A tax ID number is an EIN number provided by the IRS in order to establish a filing system for businesses. An IRS EIN number can assist with a number of business needs including hiring employees as well as filing taxes for the business as well as bank account needs. With an LLC tax ID number, a business is legitimized and begin the basic hiring processes as well as opening up bank accounts for the business, etc. If you have inherited or acquired a new business, then you will need the EIN information in order to take over ownership. So how do you locate the tax ID number for a business?
Looking up an EIN Number
To begin, you can reference original materials provided by the IRS if you are able to locate them within the paperwork of your new business. You can also contact the IRS Business & Specialty Tax Line at 800-829-4933 to find this information. If the number was used to open a bank account number or to obtain a business license, then the organization used should also have this info on file. You can also find an old tax return of the business for this number.
New EIN Number
Once you have the information, you are ready to operate. However, you may need a new EIN number if you have decided to incorporate the business or if you receive a company that you will be running as a sole proprietorship. If you are unsure as to if you need a new EIN number, contact a tax ID company for assistance. Irs-ein-tax-id.com offers an online chat service that can easily assist with helping you to find the right answers to your tax ID questions. Speak to a customer service rep to find out if you need to obtain a new number for your recently acquired business.