When most people think about taxes, numbers, and the IRS they immediately being to stress out. With IRS-EIN-TAX-ID, they make the process easier by breaking it into three steps. To obtain your EIN, you must first decide what entity you need. By visiting their website, you can view all the different entity options and the reasons why you might need them. The different entity options include:
- Sole Proprietor/Individual
- Limited Liability Company
- Estate of Deceased Individual
- Corporation/S-Corporation/Personal Service Corporation
- Church Controlled Organization
After deciding which entity is for you, you would then fill out the paperwork correctly, and submit it. You should then receive an EIN via email within one business day. If you are needing a tax id for a trust, the thought process beforehand needs to be done in more detail considering that there are different trusts. If you have a revocable trust, the grantor’s social security number will be used. If it is an irrevocable trust, no changes can be made, and an EIN is required. Knowing which type of trust, you have will make the EIN process easier since you do not need one with a revocable trust.
Your EIN number is a nine-digit set of numbers that will be set up like 12-3456789. It is used for identification for the government or IRS. An SS4 application would need to be filled out to obtain an EIN which is what is provided through the entity chosen.
It is extremely crucial to make sure all the information is filled out correctly, so the application is not rejected, and you will not have to redo it and go through setbacks. An easy way to avoid your application from being rejected is using one of IRS-EIN-Tax-ID.com’s experts to review and fill out the information for you.