IRS Tax ID (EIN) Application

Frequently Asked Articles

122 ITNS FAQ ENTITY NPO What is a PTA PTO or School Organization IRS Definition of a PTA PTO or School Organization

What is a PTA/PTO or School Organization? | IRS Definition of a PTA/PTO or School Organization

Both PTA and PTO (Parent Teacher Association and Parent-Teacher Organization) groups are an incredibly important part of developing parent-teacher relationships. But there is a distinction between the two. The PTA is an organization that certifies specific entities to operate under their brand, while a PTO is a more general term for any parent-teacher organization. Either way, […]


120 ITNS FAQ ENTITY NPO What is a Government Federal Military IRS Definition of a Government Federal Military

What is a Government, Federal/Military? | IRS Definition of a Government, Federal/Military

Under the United States government, there are four major branches of the military: the Air Force, the Army, the Marine Corps, and the Navy. There are also four other uniformed services that are considered to be adjacent, though they are not part of the military proper: the Coast Guard, the USPHS Commissioned Corps, the NOAA Commissioned […]


119 ITNS FAQ ENTITY NPO What is a Social or Savings Club IRS Definition of a Social or Savings Club

What is a Social or Savings Club? | IRS Definition of a Social or Savings Club

Social clubs or savings clubs are independent entities formed by members to save and raise money towards group events and activities. Often, a social club is considered by the IRS to be a tax-exempt enterprise. No one in the social club owns shares or is taking money, instead the social club is acting together in […]


117 ITNS FAQ ENTITY NPO What is a REMIC IRS Definition of a REMIC

What is a REMIC? | IRS Definition of a REMIC

A REMIC is a Real Estate Mortgage Investment Conduit. It’s a fairly complicated type of investment that is most easily understood as a way by which investors are able to invest in mortgages and mortgage-backed securities. Real estate mortgages and mortgage-backed securities are packed up, and then they can be sold and resold. Because the REMIC […]


116 ITNS FAQ ENTITY NPO What is a IRA IRS Definition of a IRA

What is an IRA? | IRS Definition of an IRA

An Independent Retirement Arrangement (IRA) is a way that individuals can set aside dollars, usually pre-tax, towards their eventual retirement. This is different from Employer Plan 401K, Money Purchase Plan.  By setting aside money pre-tax, they can allow it to grow far more than they would have otherwise been able to. There are multiple types […]


112 ITNS FAQ ENTITY S-CORP Where Can I Find an S-Corporation Tax ID Application

Where Can I Find an S-Corporation Tax ID Application?

You’ve started an S-Corporation and you need a Tax ID application. In fact, you need it as soon as possible; you can’t hire employees without it, you can’t open business bank accounts without it, and you definitely can’t file your taxes without it. Finding a Tax ID application isn’t a problem. The Tax ID application is available […]


110 ITNS FAQ ENTITY NPO What is a Employer Plan 401K Money Purchase Plan etc IRS Definition of a Employer Plan 401K Money Purchase Plan

What is an Employer Plan (401K, Money Purchase Plan, etc.)? | IRS Definition of an Employer Plan (401K, Money Purchase Plan, etc.)

An employer plan is an employer-provided type of retirement, pension, or contribution plan. Many employers provide these types of benefits to employees as a way of increasing their total benefits package, and keeping their employees happy and financially stable. An employer plan can range from a traditional 401k to a money purchase plan. Either way, it’s […]


109 ITNS FAQ ENTITY NPO What is a Homeowners Condo Association IRS Definition of a Homeowners Condo Association

What is a Homeowners/Condo Association? | IRS Definition of a Homeowners/Condo Association

A Homeowners Association or Condo Association is an organization formed out of homeowners within a specific development, or condo owners within a specific condominium complex, to create and enforce rules on the property. An HOA or CA (also known as an Apartment Owners Association or AOA) will have a board that oversees it, will collect […]


105 ITNS FAQ ENTITY TRUST Why Do I Need an EIN Number if I have a Trust

Why Do I Need an EIN Number if I have a Trust?

First: You might not. But you probably do. If you have a revocable trust, you don’t need an EIN Number. Instead, you can use your own social security number for the trust. But having a revocable trust is also a bit of a double-edged sword, because while you still have control over your assets, you’re […]


101 ITNS FAQ ENTITY TRUST Why Should a Trust Apply for a Federal Tax ID

Why Should a Trust Apply for a Federal Tax ID?

There are a wide spectrum of trust accounts, from living revocable trusts, to funeral trusts. But the basic rule of thumb is: If you are putting money into a trust, and you aren’t going to be responsible for the taxes, then that trust needs a federal tax ID. While this is a simplistic point of view […]


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