Obtaining your Internal Revenue Service-Employer Identification Number-Tax Identification (IRS-EIN-Tax-ID), or simply known as the EIN, is totally free. You do not have to worry about huge fees when filing as there are none!
The EIN is the nine-digit number that the IRS assigns to tax accounts of employers and others entities who have no employees. This number will tell the IRS what business tax returns — among the various types there are — each taxpayer needs to file.
Incorporation Service Providers
There are many reliable and affordable companies whose business it is to help you set up your business. Their service usually includes obtaining your EIN for an additional $75 or more.
If you’re very busy with other transactions and aren’t that strapped for cash, then having your service obtain your EIN for you might seem like the most logical choice. However, you should know that you can easily apply online to get your EIN. You can do it in less than five minutes — and it’s free.
While the company you’re working with to set up your business may charge, be assured that the IRS does not charge you for this service. You may want to consider saving that extra fee and applying yourself as it is a simple process. There are advisors online awaiting to assist you throughout the process should you have any questions.
Transacting With the IRS
Even when a loved one dies, you will still need to deal with the IRS in settling his or her estate (for that you would need an EIN Number for estate. Therefore, if you’re serious about the business you’re starting up, you might as well get used to dealing with the IRS.
And obtaining your EIN would be a good way to start. It’s a very easy transaction so you won’t get discouraged and back out. So log on to the IRS-EIN website now and get started.