Your employer identification number, or EIN, is a nine-digit identification code used by the IRS to identify employers for the purposes of tax reporting and other forms filing requirements. As such, this is one of the first things new employers must do. Some businesses need to do this practically from day one. Low-budget start-up companies may go some number of months or years without any meaningful payroll.
Thus, an EIN is not necessary for all businesses. The employer part, however, is a bit misleading. In today’s economy, many companies use contract labor for their productivity needs. You also need an EIN number for the purposes of filing 1099-MISC forms for your self-employed contractors.
How to Get an EIN Number Online
While the options include mail, fax, and even the telephone for international applicants, most new employers get their EIN through an online request. The key here is to set aside a little bit of time to complete the online application is one sitting. The IRS requires it, as they do not save your information from one session to another. The upshot is that, once you satisfactorily complete the application materials, you’ll receive your EIN number immediately. Find more complete instructions for online application here.
More Planning for New Businesses
Naturally, getting an EIN number is only one of many things new businesses need to do. It’s all too easy to underestimate the time and hassle involved with business and tax accounting forms. Especially for businesses that plan on growing their payroll and labor force in future years, it’s never too early to think about software that will serve as a resource this year and next.
Advanced Micro Solutions (AMS) has developed a software solution that allows you to choose and implement additional software features as they become relevant to your business. Our W-2/1099 Forms Filer platform and module catalog enables our customers to build a cost-effective, personalized software package. We match the versatility of cloud-based software while still delivering cost-certainty and sensible prices. It also allows us to serve a wider range of business sizes and industries, further driving down our price points. Along with the popularity of our intuitive, menu-driven platform and specific software capabilities, this custom approach and ongoing dedication to developing new software resources speaks to our more than 30 years providing support for w-2, 1099, and payroll services.
AMS Software Products and Costs
- W-2/1099 Forms Filer : This platform is required for all other purchases, but already includes all the support you need for your w-2 and 1099 form preparation, including data entry, client reporting, information printing, and security and networking features.
- Payroll Module : For comprehensive payroll support that can be tied directly to your end-of-year tax filing and data management tool.
- E-File Direct : For e-filing an unlimited number of end-of-year forms and payees. A third-party software vendor can also take care of smaller e-filing services charged per filing form.
- Software-Generated Forms : For printing your own blank tax forms and MICR checks, either as a primary payroll method or a backup for direct deposit processing.
- 1042-S Filer : For all your filings related to payments made to foreign persons/foreign institutions.
- ACA Filer : For your 1094s, 1095s, and filing support related to your client’s/business’s Affordable Care Act filing requirements.
- Forms Filer Plus : For all your unemployment tax filings and other specialized forms filing.