You may have a business that you want to establish but you honestly do not know how to begin. It is normal that you will be very enthusiastic about starting your own business. You do not immediately realize that there are legal matters that you have to take into consideration.

There are different corporations that would require the use of an EIN. Do you know that even if you are not required to get one, you may still benefit from it? You would need to use an EIN if you want to get the following benefits:

  •  You would like to open a bank account in the name of your company.
     You can apply for a loan for your company.
     It is best that you can use this when you start hiring employees.
     The EIN can be used to get some permits for your business.

 

How to Apply for an EIN

It is easy to apply for an EIN as long as you know what to do. If you have a US-based business, this is not something that you have to worry about. The EIN online assistant will be there to help you. You need to answer some questions about your business. If you are not able to answer the questions, you need to close your session and try again another day.

For those who do not live in the United States, there are still other ways that you can get an EIN number:

1. Get a tax form that you can answer. You can ask the help of lawyers to answer the questions if you do not understand how to answer them.
2. Once you are done with answering the questions, you can submit the form through fax or through snail mail. If in case your business is US-based, you can just re-answer the questions when you go online.
3. If you send the form through fax, you are going to receive the EIN in about 5days. If you send through snail mail, expect that you will get in about a month.

Once you get the EIN number, you can try out the IRS EIN lookup to check if your number is already registered..

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