A Federal employer identification number is a requirement for some businesses. Even if you don’t need one to run your business, it is still a good idea to obtain one. An approved EIN application allows you to establish a separate credit history for your business. This not only helps to protect your personal assets but makes it more likely that you will receive the funding you need to operate successfully. Your EIN will also allow you to do several other things.
- Open a bank account under your company’s name
- Apply for a credit card for your company
- File your business taxes more easily
- Apply for necessary business permits
Using Your EIN Effectively
Using your employer identification number is easy once you receive the number, especially when you consider that it works much like your personal social security number. Simply include it where asked on IRS forms and business-related applications. The more you use it in place of your personal social security information, the more likely your business is to become recognizable. The EIN also provides a level of protection for your personal finances since it allows you to keep your social security number private.
How to Apply for an EIN
Applying for your employer identification number is rather simple. In fact, you can even apply for your EIN online. Simply provide some information about yourself and your business, submit the application and wait. In most cases, you will receive an approval and your number in a matter of a few days. Some people even receive them the next business day. Once you submit your application, you can use a tracker to keep tabs on your status and learn when you are approved.
Are you ready to learn more about obtaining an employer identification number for your business? IRS EIN Tax ID Filing Service, also known as IRS-EIN-Tax-ID online, is ready to assist you. Contact the company via email, telephone or online for more information.