Applying for an Employee Identification Number (or EIN) with the IRS might seem daunting. You must first check to see if you qualify, then assuming you do locate the appropriate forms, fill them out correctly, send it to the proper IRS location, and then wait for your results. If you live in Arizona you might have additional questions relative to your home state. Here is a guide designed to help you apply for an EIN in Arizona.
An EIN is a 9 digit set of unique numbers used for tax identification purposes. These are especially helpful if you have just started your business and you don’t want to give out your personal SSN. Most banks require an EIN before any business loans and a few different business entities are required to have one by the IRS. In the state of Arizona, all business (traditional, at home, or online) are also required to have a state business license (sometimes called a state tax ID).
Before starting the application process, it’s a good practice to gather all the necessary information in one place; this allows for a faster and pain-free application session. First things first, you’ll need the legal name of your business. If you don’t have a legal name just yet you can put your name instead.
Next, have all the responsible parties’ information. If you are filing for someone else or if you are the responsible party simply include all the personal information that is available. This is the person who is responsible for controlling the majority of the companies funds. After that gather your business addresses, both the physical location, and if different, the correspondence address (Usually where the responsible party is located).
Lastly, include your contact information in case the IRS needs to contact you about your application.
Before you begin the EIN application process, first consider how you would prefer to apply. The most popular method is also the fastest, an Online Application. On the IRS website, you can apply for free and, while you are not able to save your progress (meaning you will need to complete it in one session), you are given your number immediately after the session. This allows you to print and use your number without having to wait for the mail.
If you prefer going through the postal service, allow yourself 4-5 weeks for any results. This wait time does not include any extra time needed for answer clarification. Faxing is also an option, and this usually takes up to a week for results. If you are an international applicant, there is a telephone number on the IRS site you can call for assistance.
After you’ve decided how to apply, you must fill out the proper forms. A Form SS-4 is a one-page application with 18 different lines of needed information. You can find the SS-4 online and it comes with a set of instructions. Filling out this form before applying will help ensure you are not missing anything important and show faster results. If you are unsure about anything on the SS-4 form go ahead and preemptively call the IRS for any needed clarification. Once the form is filled out, send it to the IRS and you should receive an EIN in short order.
An EIN makes owning your own business that much easier and has many benefits. Taking the time out of your day to apply early will make sure you’re not in a time-crunch near tax season, so take your time, find the best answers for your application, and get your Arizona EIN today.
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