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Getting a Federal Tax ID Number (TIN) and Employer Identification Number (EIN)
If you incorporate or if you plan to hire an employee, you will need a Federal Tax ID Number (TIN). This is very easy to obtain. You can download a simple one page form from the IRS website (Form # SS-4) at www.irs.gov. Select Forms & Publications from the pull down menu and then type SS 4 to get the correct form. Simply fill out the form and mail it to the address on the form.
The direct web address for the SS-4 Form is:
http://www.irs.gov/pub/irs-pdf/fss4.pdf.
It can take 4 to 6 weeks to receive your federal tax ID number back in the mail. A faster way is to call the IRS toll free number on the irs.gov website and request a number over the phone. The agent will give you your number right over the phone. For details download the form “Understanding Your EIN” from the same Forms & Publications section on the IRS website.
You can obtain instructions on how to apply for Federal Tax ID Number and getting the Employer Identification Number (EIN) at:
http://www.irs.gov/pub/irs-pdf/iss4.pdf
The federal tax ID number is used in place of your Social Security number when you are opening bank accounts, applying for credit, or sending invoices for your business. You use it to file your business tax return and you will need to furnish it each time someone paying you money for services requests it.
Author: Jim AntonilliPlease Rate This Article
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