Employer Identification Number (EIN) from Vancy's blog

Do you conduct business online? Are you considering it? If this is the case, getting an EIN number from the IRS is one of the first things you need to do, or you can do right now if you already run a business. Your finances may become a little disorganized if you don't get an EIN, but more importantly, you risk identity theft.

A business entity's Employer Identification Number (EIN number) is also known as a Federal Tax Identification Number. In most cases, businesses require an EIN. There are a variety of ways to apply for an EIN, and you can now do so online.

What is the EIN?

Your company's EIN number from the IRS is similar to a social security number. Another name for it is a "Federal Tax ID Number." You can get an EIN from the IRS even if you are just a sole proprietor. Your EIN will have nine digits, like 20-1234567.

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How to Use It and Why to Use It If you have ever joined an affiliate program, you are aware that they require your social security number to file taxes. However, supplying this information can result in numerous issues. The company now has a complete personal profile of you after you give them your social security number, which could lead to identity theft.

Even if the business is reputable, do all of its employees exist? Who else has access to the data, too? Is it safe to store their data? Your EIN number cannot be used for personal credit, unlike your social security number. As a result, you will use the EIN whenever you are asked for your social security number.

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How to Get an EIN The IRS makes the process of getting an EIN very easy. First, visit irs.gov, their website. There is a section labeled "most requested forms" in the upper left corner. The application for an EIN can be found by clicking on Form SS-4. You can typically fill it out in your browser and print it because it is a PDF. This form can be sent to the IRS via fax or mail.

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In the IRS's search box, type "online SS-4" if you want to apply online for an instant EIN. The online SS-4 page will typically be the second listing. Follow the steps to obtain your new EIN quickly.