What is an EIN?

 An Employer Identification Number (EIN) is a unique identification number that is assigned to a business entity so that it can easily be identified by the Internal Revenue Service (IRS). It is commonly used by employers for the purpose of reporting taxes. An EIN, or Employer Identification Number, identifies a business with a series of 9 digits. It helps the IRS track and file taxes for a business entity. It functions very much like a Social Security number, but instead of an individual, it refers to a company. When you apply for an EIN, you’ll need to provide your SSN with the IRS. It connects you with the business and makes you a responsible party. Responsible parties are usually owners. The responsible party controls the business in all its movement of funds and assets.

Do I need an EIN?

Employer Identification Numbers (EIN) are required for most businesses. If your company hires employees, it needs an EIN. Indeed, the only businesses that do not require an EIN are sole proprietors. In other words, companies consisting of 1 person can generally avoid filing for an EIN.

However, if you incorporate, form a partnership or limited liability company (LLC), or acquire another business, you must apply for an EIN. Even if you run an additional business as a sole proprietorship, you need an EIN. However, even if you don’t legally need an EIN, there are some advantages to acquiring it.

How DOT Filing can help you? 

In order to save time and effort, we file on your behalf. Our team eliminates the possibility of any mistakes. We also work with the IRS in the event further documentation or clarification is required. Our expertise in this field works to your advantage. We expedite the process and take care of every detail so you can focus on your business.

Call us at 818-568-0644 to file for your employer identification number in less than an hour.