What is an EIN? – 5 things you need to get it for free
An Employer Identification Number or EIN is a nine-digit tax ID number that sole proprietors, small business owners, corporations, and other entities can obtain from the IRS.
As a business owner, you’ll need an EIN to open a business bank account, apply for business licenses and file your tax returns. It’s helpful to apply for one as soon as you begin planning your business. This will ensure that there are no delays in obtaining the necessary licenses or financing to operate.
Don’t pay someone to create an EIN number for business! It’s free, and it’s quite simple to obtain.
To obtain an EIN number for business, please make sure you have the following:
- Know the way in which you want to report your taxes. As a Sole Proprietor, Corporation, LLC, S Corp, etc. You will need to select this when starting your EIN application.
- Have the legal name of your corporation and mailing address ready. You will have to enter this. Try to make this address one that you will always have access to, and separate from your personal address. Check our resources section in the library for office address options if needed.
- You will also need to provide an email address and phone number as well.
- Outside of these things, they will have general and self-explanatory questions throughout the application about your business type, etc.
- Let us know if we forgot anything, but the application should take less than 5 minutes. Most times when you apply before 9 pm EST they provide your number right away, otherwise, it will take about a day if you do it after hours, though the system is available 24/7.
Here is the Link to the EIN number for business Application portal on the IRS. If you don’t want to spend the 5 minutes and would prefer someone to pay for these services there are many that provide it, but why not try to give it a shot on your own? Good Luck!
Well, that’s all for now! We hope this information is valuable to you. Come back in the future for updates on this and other topics.
Speak to your business coach for more details if you already have A&M Membership. If you don’t have one, sign up for any of our business coaching plans 🏆
You can also book a consult with us. 🚀
More business knowledge reads are available on our blog 📝
Also, subscribe to our newsletter, Cerebral Dope, and get the latest on microbusiness topics and upcoming info sessions.
Disclaimer: This article is for information purposes only hence not directly related to Addy and Mark in any way. Always check the official website for updated information.
Last Update: January 27th, 2023