EIN
Apply for a federal tax ID
After your business is formed, you’ll need to apply for Employer Identification Number (EIN).
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EIN
Employer Identification Number
An EIN (Employer Identification Number) is a nine-digit number issued by the IRS used to identify businesses and certain other entities. An EIN number (also called a Federal Tax ID) is commonly used for taxing and banking purposes and to register your business with the federal government.
Why Do I Need an EIN?
You will need an EIN/ Tax ID Number if you:
• Started a new business
• Hired or will hire employees, including household employees
• Opened a bank account that requires an EIN for banking purposes
• Need to open a business bank account or want to start a business line of credit
• Changed the legal character or ownership of your organization (for example, you incorporate a sole proprietorship or form a partnership)
• Formed or created a trust, pension plan, corporation, partnership, LLC
• Represent an estate that operates a business after the owner’s death.
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Daily, weekly, or monthly data entry from your bank accounts to your accounting software.
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Reconciliation of all cleared transactions, open deposits, and open checks.
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Matching bank reconciliation balances to your trial balance for financial statement review.
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We handle the paperwork
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We make it easy by filing with the IRs on your behalf and providing you with your employer identification number once complete.
How long does it take to receive my EIN?
Your transition will be seamless with us.
Express delivery will be completed the same day if placed during business hours. Orders placed outside of business hours will be fulfilled the next business day.
Penthers’ Business Hours:
Monday through Friday, 7 AM – 6 PM PST
What does the EIN filing service cost?
The fee for our service is only $49 and includes a simplified EIN application and comprehensive application review by our team of experts before submitting it to the IRS.
We work directly with the IRS on your behalf to address any follow-up questions to ensure your EIN order is completed. We also provide support along the way and a customer portal to check your order status and retrieve your EIN and business information at any time.
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Apply for an EIN – Only $49
EMPLOYER IDENTIFICATION NUMBER FAQS
An Employer Identification Number (EIN) is a federal tax identification number similar to a social security number. Generally, all businesses must have an EIN in order for the Internal Revenue Service (IRS) to identify taxpayers who are required to file various business tax returns. Here are some answers to commonly asked questions regarding EINs.
I recently formed a limited liability company (LLC). The LLC has no employees. Do I need a separate Federal Tax ID number for the LLC?
No, you will not need a separate Federal Tax ID number for the LLC if you are the sole owner of the LLC and the LLC has no employees. If you are not the sole owner of the LLC or if the LLC has employees, you will need a separate Federal Tax ID number for the LLC.
Is an employer ID number the same as a tax ID number?
Yes, an employer identification number, or EIN, is also known as a taxpayer identification number, or TIN. A sole proprietorship that has no employees and files no excise or pension tax returns is the only business that does not need an employer identification number. In this instance, the sole proprietor uses his or her social security number as the taxpayer identification number.
As a sole proprietor, do I need an employer identification number (EIN)?
As a sole proprietor, you would need to obtain an identification number if either of the following applies:
- You pay wages to one or more employees, or
- You file pension or excise tax returns.
Is an employer identification number (EIN) required if the spouses are the only persons working in the business?
If both of you carry on a business together and share in the profits and losses, you are a partnership and each would receive a Form 1065, Schedule K-1 that is important for determining your self-employment income. If you work for your spouse, you should receive a Form W-2, showing taxes withheld and the owner spouse would claim the wages paid to you as a deduction. Both a partnership and a sole proprietor with an employee must have an EIN.
Does a small company need a tax ID number?
A sole proprietor who does not have any employees and who does not file any excise or pension plan tax returns is the only business person who does not need an employer identification number. In this instance, the sole proprietor uses his or her social security number as the taxpayer identification number.
Under what circumstances am I required to change my employer identification number (EIN)?
If you already have an EIN, and the organization or ownership of your business changes, you may need to apply for a new number. Some of the circumstances under which a new number is required are as follows:
- An existing business is purchased or inherited by an individual who will operate it as a sole proprietorship;
- A sole proprietorship changes to a corporation or a partnership;
- A partnership changes to a corporation or a sole proprietorship;
- A corporation changes to a partnership or a sole proprietorship; or
- An individual owner dies, and the estate takes over the business.
Have more questions?
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EIN (Employer ID Numbers)
An EIN is an employer identification number. EIN is a nine-digit number like a social security number. The IRS uses it for tax purposes. When you place an EIN order on our website, we start the process for you immediately.
Receive Your Official EIN Today!
The process of applying for an EIN can be confusing and strenuous for small business owners and entrepreneurs. Whether you’re a business owner, entrepreneur, executor, administrator, or representative of an estate, we’ll work with the IRS on your behalf as your third-party designee.
Our team of accountants, tax professionals, and small business experts is standing by to process your application. We’ll review all the information you provide and advise on anything you may need to add or revise in order to get your application accepted. Once your application has been thoroughly reviewed by our team, we’ll submit it electronically to obtain your EIN. If any additional documents are needed, our team will work with the IRS directly to save you time.
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