Start-Up Documents to Get You On Your Way
I received a call recently from a good friend who started the conversation with "I seem to have gotten myself into a bit of a jam". Luckily for my friend his 'jam' was a very minor one. He had recently done some freelance work for a client and with the holidays looming he was unable to receive payment from the client without having established an Employer Identification Number (EIN)-also known in IRS terms as Form SS-4. The best way to describe an EIN is to think of it as a Social Security Number for your business that identifies it as a distinct entity primarily for tax related purposes. In addition, if you plan on opening a business bank account (which I highly recommend) most banks won't allow you to do so without an EIN. In my friend's instance we were able to resolve this problem in less than five minutes.
You have four options for applying for an Employer Identification Number, the first and the quickest is to contact the IRS assistance line at 800-829-4933, in most cases you will be instructed to the correct prompt in order to apply and get your tentative number instantly-right over phone. Next, you can log on to the following link Apply Online Now or go to www.irs.gov for more information. The other two options are just as effective but will take more time as they have to be processed manually . To mail or fax your EIN form simply call 800-829-4933 and ask an agent for the appropriate fax number or mailing address for your particular location. However you choose to apply be sure to only apply through one channel as you could end up with multiple EINs and that could spell confusion come tax time. To print out a copy of this form click the following link Print EIN Form SS-4.
Got a small business question? Send me an email, Cavanaugh L. Gray at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
