If you have been told you need to complete an SS-4 form but didn’t know what it was or what to do with it, then hopefully the following will be of some help.
With information gleaned from the IRS, we will try to explain, in simple terms, exactly what the form is, what it is used for, and how to complete it, helping you to make sure there are no errors that can delay the processing of the application.
What Is an SS-4 form?
Form SS-4, available from the IRS, is used to obtain an employer identification number (EIN). The EIN is a unique nine-digit number, in the format of two numbers, a dash, then seven numbers, for example, 21-9876543. It is assigned to any employer, sole proprietor, partnership, corporation, limited liability company, estate, trust, certain individuals, or any other entity for tax filing and reporting.
According to the IRS, the SS-4 must be kept up-to-date. Any changes to your responsible party, location, or address must be reported to the IRS within 60 days of such change.
An EIN is not only used to identify an employer. Many other purposes legally require the production of your employer identification number, such as opening a business bank account, applying for a business loan, or if you wish to accept credit and debit cards as forms of payment.
The purpose of form SS-4.
You use form SS-4 to get your EIN, which distinguishes you from every other employer as far as tax reporting and filing is concerned. The information contained in the form will establish your business tax account.
It should be used for business purposes only. Your EIN must never be used in place of a social security number or an individual taxpayer ID number.
The form has lines numbered 1 through 18, some of which have more than one box to check, depending on your situation, and we’ll explain each of them in more detail below.
How to apply for your EIN.
You can submit an application for an EIN in a variety of ways depending on how quickly you need to use it. Applications can be made online, by telephone, by mail, or by fax. Choose whichever method will suit your circumstance better.
Applying online for your EIN.
This is by far the most common way used by US-based businesses to obtain an EIN. The process is basically the same as completing the SS-4 form by hand but is streamlined to make it easier, and after submitting the online form, you will receive your EIN almost immediately.
The process is like a question-and-answer interview. The application also has embedded hyperlinks to help topics and definitions, so there is no need to keep switching windows from the application screen to the instructions screen. The one drawback is that you must complete the online application in one session. If you get interrupted, you cannot save and return to continue later, and after 15 minutes of inactivity, the session will automatically close and you will have to start all over again.
If you don’t have time to complete the process yourself, or you would like a professional to handle this task for you check out LLC Formations. LLC Formations is a reputable company that provides business filing assistance to both help start and maintain your business.
Once the application has been completed and your answers verified, you will receive your EIN from the IRS immediately. You can then download, save and print the notice of confirmation to keep with your records.
Media Details -
Company Name - LLC Formations
Email - [email protected]
City - Miami
Country - USA
The above review statements are those of the sponsor (Source of content) and do not necessarily reflect the official policy, position or views of the content publisher. The content distribution company is therefore not responsible for the content and its authenticity and legal standing of the above subject matter. Each individual is required to exercise its content when making a purchase from the above offer. The information does not constitute advice or an offer to buy. Any purchase made from the above press release is made at your own risk. Consult an expert advisor/health and professional advisor before any such purchase. Any purchase made from this link is subject to the final terms and conditions of the website's selling as mentioned in the above as source. The content publisher and its downstream distribution partners do not take any responsibility directly or indirectly. If you have any complaints or copyright issues related to this article, kindly contact the company this news is about.
DISCLAIMER of Liability. IN NO EVENT SHALL OUR PR COMPANY BE LIABLE OR RESPONSIBLE TO YOU OR ANY OTHER PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR EXEMPLARY DAMAGES OF ANY KIND, INCLUDING WITHOUT LIMITATION, LOST PROFITS OR LOST OPPORTUNITIES, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES IN ADVANCE AND REGARDLESS OF THE CAUSE OF ACTION UPON WHICH ANY SUCH CLAIM IS BASED, INCLUDING, WITHOUT LIMITATION, ANY CLAIM ARISING OUT OF OR IN CONNECTION WITH ANY OF THE CONTENT, INCLUDING, WITHOUT LIMITATION, AUDIO, PHOTOGRAPHS, AND VIDEOS, OR OF THE ACCURACY, RELIABILITY, OR LEGALITY OF ANY STATEMENT MADE IN OR OMITTED FROM ANY advertisement, sponsorship, endorsement, testimonial, opinion, or other product-related or service-related statement or review appearing in the Websites or in ANY post or article distributed via the Websites.