You know that getting your taxes done, and done correctly can save you an unpleasant run-in with the IRS, and possible fines in the future. If you have started a new business this year, you will need to obtain an Employer Identification Number, or EIN, before you can file your taxes. An EIN number serves to identify your business in the eyes of the IRS- much like a social security number for an individual. You can obtain the number by filling out Form SS-4. If you have not yet obtained an EIN for your business, here are some advantages of getting an EIN online:
Speed: In the age of email, teleconferences, and next day delivery, it seems ludicrous to wait two to four weeks for an EIN to arrive- which is exactly what you will need to do if you apply by fax or mail. When you apply online, you will get your EIN number after you have finished completing your application. You will need your EIN to file the taxes for your business, and getting your number quickly can help ensure that you do not file late.
Convenience: Having to print and fax, or print and mail the form can be a hassle and will take extra time out of your day. When you apply for an EIN online, all you need to do is enter the information and store the EIN number that you receive for your records. As an added perk, you will also be helping the environment by reducing the amount of paper used to obtain your EIN.
Assistance: It is perfectly natural to be nervous about filing your EIN. After all, you are not a tax expert. When you apply online, you have access to a variety of resources that can help you avoid mistakes on your SS-4, and help you learn more about the taxes on your new business.
Overall, with today’s technology, the process of achieving an EIN online has become very proficient, and probably the easiest of all methods. This isn’t something that will be a nagging, back-and-forth effort. This is a one-and-done approach, and you can move forward.
The great news about obtaining an EIN is that you only have to do it once for a given business. Once you have an EIN for your business, you will use that number every year during tax season. For more, please visit www.irs-ein-tax-id.com.