EIN numbers are used by the IRS (Internal Revenue Services) to identify that your business is a legal and recognizable entity in the United States. Essentially, you are acquiring this number so that you will not use your social security number to do business. The EIN will provide the IRS the information needed and you can do business without risking your privacy.
What if you have multiple businesses? Does this mean you need multiple EIN numbers? Most likely, yes. It primarily depends on the legal, separate entities you have and if they are eligible businesses for obtaining an EIN number. Businesses that qualify to need an EIN contain the following:
- You have employees
- You operate your business as a partnership and/or corporation
- You file excise, alcohol, tobacco, employment, or firearms tax returns
- You withhold taxes on revenue, besides pay, paid to a foreign alien
- You have a Keogh plan
- You are involved with a trust, IRA, estate, non-profit, real estate mortgage investment conduit, farmers’ cooperative, and/or plan administrator program
If your business meets any of the following above, then you will need to apply for an EIN number for that business. If, for example, you have three separate businesses that meet the following, then you will need to obtain three EIN numbers. You can apply for an EIN through IRS-EIN-Tax-ID and enjoy the convenience of our website as the application is available 24 hours a day and it is a quick and easy to follow application. There are three simple steps to applying for an EIN. First, you will select the entity type. Then, you will fill in your information. Lastly, you will submit your information. With our fast and easy service, you will usually receive your EIN number within a day!