If your business operates as a corporation or partnership or employs workers, then you need an Employer Identification Number. IRS requires you to obtain business tax ID which is also known as Employer Identification Number (EIN). Employee Identification Number is a unique number like Social Security Number and helps IRS to identify your business and also provide all your tax documentation. Obtaining a Federal Tax ID or Employer Identification Number requires to fill SS4 form of IRS.
What is an Employer Identification Number (EIN)?
Employer Identification Number or Business Federal Tax ID works same as Social Security Number and helps you file tax returns for your business. It will require you to open a bank account for your business and helps you properly pay and account the payrolls that your business involves or else it will allow you to establish credit for your business and helps your business’s official to stand as a legal entity of your business. If you require business federal tax ID or Employer Identification Number, then PRofficeDOCS can help you get your documentation done professionally.
PRofficeDOCS is a top-notch document processing service available to assist you and your business with Tax and other documentation needs. PRofficeDOCS can help get your Employer Identification Number (EIN) easily with professionals having knowledge and Experience to get done your work in Fraction of time. To apply for your EIN or Federal Tax ID online and obtain your EIN number quickly or to know more about EIN get in touch with PRofficeDOCS at www.profficedocs.com
Where and when you will use business Federal Tax ID or EIN
Your Business EIN is necessary for many situations when working as a service or business. It will help you fill your tax returns for your organization or business. If your company runs as a service, then it will help you fill W9 form for clients. Employer Identification Number is also necessary to open a bank account for your business and apply for business credits. EIN helps you manage your business in many ways as social security number for an individual. Business entities like partnerships, multiple and single-member LLCs, Corporation taxed as LLCs or Sole proprietorships with employees requires EIN to run business and their services. For single-member LLCs, you are planning to hire employees you will require EIN, and it is also good to get an EIN because many banks and lenders will prefer EIN to work with you.