IRS Tax ID (EIN) Application

Frequently Asked Articles

42 ITNS FAQ ENTITY SOLE Does a Sole Proprietorship need a Tax ID EIN

Does a Sole Proprietorship need a Tax ID (EIN)?

Quite a few sole proprietorships are schedule C proprietorships. They don’t have an EIN. They just pay taxes through their SSN/ITIN. If there are forms that the company needs to fill out, or permits the company needs, they use their SSN. And if the sole proprietorship has to open a business bank account or get a […]


40 ITNS FAQ GEN GEN Why Do I Need a Tax ID Number

Why Do I Need a Tax ID Number?

First: Everyone needs a tax ID number, and everyone has a tax ID number. Individuals usually have a social security number (SSN) or individual taxpayer number (ITIN). These numbers are used so that they can file their taxes, and everyone has to file their taxes. But these numbers alone aren’t always enough. Some people need […]


38 ITNS FAQ GEN GEN When Do You NOT Need a Tax ID Number

When Do You NOT Need a Tax ID Number?

If you have a business, you might be wondering whether you really need a tax ID number. There are situations in which you don’t. If you are a sole proprietor (a single member business) and you don’t hire employees, then you probably don’t need an EIN. A lot of people fall under this banner, such […]


36 ITNS FAQ GEN GEN How Long Will it Take to Receive my Federal Tax ID Number

How Long Will it Take to Receive my Federal Tax ID Number?

How long it takes to receive your federal tax ID number is based on two things: how you filed for it and whether there were any errors in your application. First, you can file for an EIN/Tax ID online, through mail, through fax, or through phone. If you file online (the best method), you should get it […]


34 ITNS FAQ ENTITY SOLE What is a Sole Proprietorship IRS Definition of a Sole Proprietorship

What is a Sole Proprietorship? | IRS Definition of a Sole Proprietorship

A sole proprietorship is a company with a single owner. Often, this single owner will file for their sole proprietorship with a Schedule C on their own 1040 tax return. Consequently, the sole proprietorship is the individual for all intents and purposes. Sole proprietorships may not need an EIN if they never hire employees, though having one is […]


31 ITNS FAQ ENTITY SOLE Where Can I Find a Sole Proprietorship Tax ID Application

Where Can I Find a Sole Proprietorship Tax ID Application?

Do you need a tax ID for your sole proprietorship? First, you might not need one. If you have a sole proprietorship that doesn’t hire any individuals, you can use your own social security number rather than having to get a tax ID, also known as an Employer Identification Number. But if you do hire […]


27 ITNS ENTITY NPOWhere Can I Find a Non Profit Organization Tax ID Application

Where Can I Find a Non-Profit Organization Tax ID Application?

A non-profit organization isn’t taxed. But it still does need to file tax returns, and it needs to fill out a tax ID application; some of its tax returns even need to be public. For most non-profit organizations, the ideal time to fill out a tax ID application is during the formation of the non-profit. But […]


ITNS FAQ ENTITY PTNR How to Open a Bank Account for a Joint Venture

How to Open a Bank Account for a Partnership

When opening a bank account for a partnership, the bank account will function very much like a business joint account. You and your partner (or partners) will meet with a commercial banking specialist. They will need information from every partner about their identity and will likely check both their credit and their banking history. They […]


19 ITNS FAQ ENTITY SCORP How to Open a Bank Account for a S Corp

How to Open a Bank Account for an S-Corporation

To open a bank for an S-corporation, you should first collect all your corporation documents. Make an appointment with a business banker at the bank of your choice, and go in with all majority shareholders of the business. Those who are going to be able to withdraw funds from the bank account will need to bring […]


17 ITNS FAQ ENTITY S CORPWhat is an S Corporation IRS Definition of a S Corp

What is an S-Corporation? | IRS Definition of a S-Corp

An S-corporation is a type of small business corporation that has what’s known as “pass through income.” The income simply passes through from the S-corporation into the business owners themselves, and the business owners become responsible for any profits and losses for the business. S-corporations are chosen because the funds involved aren’t taxed twice. Instead, the […]


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