1099 forms are used to report to the IRS the different types of income paid to non-employees, specifically independent contractors. They are part of various tax regulations, and failing to file them results in huge penalties. An EIN is a special business identifier used in the tax process including the 1099 fillings. It is important […]
You may be somewhat surprised if you have received an EIN and did not request it. However, there is no need to panic, as there is more than likely a reasonable explanation. Below, we’ll look into how you may be in this situation and what to do if it happens to you. Why you may […]
Businesses need to understand the differences between an Employer Identification Number (EIN), Social Security Number (SSN), and Individual Taxpayer Identification Number (ITIN) in order to remain tax compliant. These unique identifiers serve a distinct purpose, from identifying business entities to tracking personal earnings and years employed. In this guide, we will take a look at […]
We know there are several benefits to getting an EIN, so you may be asking yourself whether you need to have a registered business to get one. Here’s everything you need to know about getting an EIN, even if you don’t have an officially registered business. Do you need to be registered as a business […]
Many new business owners may be concerned about divulging sensitive information about their business. However, sharing your EIN is a perfectly normal practice and a whole lot safer than sharing your personal information. Let’s take a look at the specifics. Can You Share Your EIN? You absolutely can share your EIN. An EIN is a […]
An EIN (Employer Identification Number) is a nine-digit identifier issued by the IRS (Internal Revenue Service) if first applied for. Many businesses obtain one to help with various tasks, similar to a Social Security Number. But when you’re first starting up a small business, do you need one straight away? The simple answer is that […]