Business entities operating in the United States obtain Federal Tax Identification Numbers (sometimes called Employer Identification Numbers) from the Internal Revenue Service (IRS) as it is usually required to open a business bank account. Obtaining an EIN should always be a top priority for new businesses in order to get things up and running and to avoid delaying many of the important functions of the business. These nine-digit numbers are used by employers, sole proprietors, limited liability companies, corporations, partnerships, nonprofit association and other business entities. Most often, EIN/FEINs are required if a business does one or more of the following:
- Forms a “C” or “S” corporation
- Pays wages to one or more employees
- Files pensions or excise tax returns
Additionally, many licenses which business are required to obtain, including a business license, necessitate a Tax Identification Number issued by the IRS. Without it, a business will be paralyzed and unable to operate legally.
Obtaining a Tax Identification Number for your new business can be complex and confusing; however, the Justice Attorney Group can make the process simple and straightforward for you. Our experienced attorney can assist you with almost every aspect of starting your new business including obtaining a Federal Tax Identification Number which enables you to perform essential business functions without impediment.