Are you in need of a Tax ID (EIN) number for your C-Corporation? All types of corporations are going to require an employer identification number. Taking action to acquire the number early in the lifespan of the corporation is important. Waiting too long can leave you in a situation where you cannot keep up with business activity due to the lack of the number. On top of that, you will also not be able to properly file tax returns without having the federal tax identification number. Understanding the online Tax ID (EIN) number process, the whole application flow can help shed light on what is otherwise a confusing area.
Steps to Obtaining a Tax ID (EIN) for a C-Corporation
- Gathering Up the C-Corporation Mandatory Business Information
- The Benefits of an Online Application
- Application Options Through the Mail or Fax
- Steps to Obtaining the Tax ID (EIN) Number
- Why You Need an EIN as a C-Corporation
As a C-Corporation, there will be a series of mandatory business information details for you to obtain. Getting these details together can help you make the whole employer identification number application process that much easier. The business information is going to include details on the business as well as details around who will be known as the responsible party in the eyes of the Internal Revenue Service.
Details on the business you will need as a C-Corporation will include the legal name of the business, the principal address of the business, and details around when it formed for the first time.
You will also need to name who is known as the responsible party. This will be the individual that will represent the C-Corporation in the eyes of the Internal Revenue Service. If there is ever a disposition of assets or anything of that nature, the responsible party has control to perform these types of actions. The details you will need on the responsible party for the application will include:
- The individual’s full legal name
- The individual’s official date of birth
- The person’s Social Security Number or Individual Taxpayer Identification Number
- The legal address of the person
Once you gather up all of this information you can proceed to the full application process for your employer identification number.
As a C-Corporation, you have a lot going on in terms of trying to get the organization to a state where it is established. You want the organization to stand on its own, to be front and center in the eyes of customers. You do not want to be wasting time trying to go through administration form filings and such as these do not help contribute to a healthier bottom line. Taking this into account, you want to consider the many benefits of the online application for a Tax ID (EIN) number.
- The online application for an employer identification number lets you complete the application in full in a matter of minutes.
- You can submit everything to the Internal Revenue Service for processing in rapid fashion. If there are any types of follow-up and such you want to take action on, you can do that right through the online portal to the IRS.
- A Tax ID service provider is available to help you go through the online application process one step at a time. This can allow you to complete it quickly.
When you have a lot going on with your C-Corporation, an online application form can help you get through things rapidly.
There are a few other choices you have when thinking about an online application for an employer identification number. The application process will include applying through the mail or via a fax machine. Both of these options will require you to obtain a physical and up-to-date copy of the form you need to obtain the identifier.
- The mail method will have you completing the physical form in full. You will need to have the mandatory information about the C-Corporation at the ready to put into all of the required fields. Once you do that you will be putting the form in an envelope and mailing it to the IRS for processing.
- The fax method is similar in that you complete the physical form with the mandatory and required information from the Internal Revenue Service. Once you get the form done, fully complete, you will be using a fax machine to be sending it to the IRS to have everything executed.
There are options to have a Tax ID service provider help you through this process and complete the forms timely.
When you need to obtain a Tax ID (EIN) number, you will want to follow some of the formal steps to getting the identifier. These steps will include:
- Gathering all of the mandatory information necessary to complete the application form.
- Deciding as to how you will apply for a Tax ID (EIN) number.
- Getting assistance from a Tax ID service provider to complete and submit the form.
- Wait for the IRS to generate your employer identification number.
There is a multitude of reasons as to why a C-Corporation would need an employer identification number. These could include even basic things such as the need to open up a business banking account, whether it be a checking or savings account. You will also need the number to even file tax returns in the name of the C-Corporation.
You want to take the time early in the lifespan of the C-Corporation to obtain your employer identification number. Do not hesitate or wait to take action. Instead, put in the time early so that you can be ready for any business activity that presents itself. If you want to open up a bank account in the name of the business, file a tax return, etc, all of this will need an employer identification number. Following the online Tax ID application process and have the number in-hand when you need it.