An EIN, or Employer Identification Number, is a unique nine-digit number issued by the IRS for tax identification purposes.

Businesses, non-profits, trusts, estates, and certain other entities are required to obtain an EIN, while individuals may also choose to obtain one for certain purposes such as opening a business bank account or hiring employees.

To obtain an EIN, entities can apply online through the IRS website, by mail, fax, or by phone, and will need to provide certain information about the entity such as its legal name, address, and type of entity.

Tips to Help Start Your Business

Once the application is processed and approved, the IRS will issue an EIN immediately in most cases, which the entity can use for various tax and financial purposes such as filing tax returns, opening a business bank account, or applying for business credit.

It is important to keep in mind that while obtaining an EIN is a relatively straightforward process, entities should ensure that they use the correct EIN on all tax and financial documents to avoid potential penalties or other issues with the IRS.

Are you worried that you have not done the paperwork right, to start you business? Would you like someone to complete and file your information correctly?

Contact The Business Depot today, and let us help you start your business right!