In most cases business entities (corporations, LLCs, partnerships, non-profit organizations, and the like) obtain employer identification numbers (or “EINs”) in order to facilitate their required federal tax filings and reporting. If you need an EIN or Tax ID number for your client, simply click here to complete the application and questionnaire. While you are busy focusing on other elements of your practice, we will prepare the IRS Form SS-4 and obtain the EIN number. Within 24 hours, we will fax or e-mail you a confirmation number. Express service is also available if you require the number within the hour!
When filing for an EIN, you will be required to disclose the name and Taxpayer Identification Number (SSN, ITIN, or EIN) of the true principal officer, general partner, grantor, owner or trustor. This person or entity is known as the “responsible party” to the IRS and “controls, manages, or directs the applicant entity and the disposition of its funds and assets.”
It is important to note that as of January 1, 2014, any changes to the identity of an entity’s responsible party must be reported to the IRS (using Form 8822-B) within 60 days of the change occurring. Changes occurring prior to January 1, 2014 that have not yet been reported to the IRS must be reported on or before March 1, 2014. We can help you with your IRS business filing needs.
While there is no penalty for failure to file Form 8822-B, neglecting to do so may result in the taxpayer not receiving a notice of deficiency or notice of demand for tax, in which case penalties and interest could continue to accrue on any tax deficiencies. As the professional managing a client’s business, you do not want to be the reason for any unnecessary penalties!
For more information on EINs and our business filing services, click here or contact one of our experienced business filing specialists today!