Taxpayer Identification Numbers TIN Internal Revenue Service


To be considered a Partnership, LLC, Corporation, S Corporation, Non-profit, etc. a business must obtain an EIN. This applies to business with no income, which are not exempt from filing federal income tax returns. By distinguishing the difference between EIN vs TIN tax identification, you circumvent any confusion about TINs in general. Besides an EIN, the IRS lists 4 other basic TINs⁠—SSN, ITIN, ATIN, and PTIN⁠—that you can use while preparing federal taxes. Regardless of their specific purpose, each tax ID number makes it possible for the IRS to identify the taxpayer, dependent, or preparer on a federal tax return form. But the importance of obtaining an EIN for your business doesn’t stop at tax season. PaymentCloud provides a host of crucial merchant services, such as a merchant account, for which you must provide your EIN to obtain.

How Long Will It Take to Get an EIN?

When applying online, you can get an EIN immediately. An EIN application can be faxed to the IRS, though this mode of application may take up to two weeks. The IRS also accepts paper mail applications, though it quotes an expected turnaround time between four and five weeks.

Read on to learn everything you need to know about the difference between an EIN and tax ID and how these terms apply to your business accounting. This is also referred to as a “federal tax identification number” or “federal employer identification number.” EINs identify business entities, like Social Security numbers for businesses. This article is for business owners looking for the proper type of tax identification number to operate their business and comply with tax payment requirements. An individual taxpayer identification number is a tax number given to some non-U.S. Residents and resident aliens, as well as their spouses and dependents, who are not able to obtain a social security number.

Small Business/Self-Employed

Since this is a series about EINs, let’s explore what you need to know about obtaining TINs if you have an EIN. Your EIN, as a quick refresher, is a federal tax identification number.

business entity

This is my favorite part of the article because I get to list off all of the benefits that come with obtaining an EIN for a business! If you’re on the fence about filing for an EIN, these reasons might persuade you to get started. The five types of tax ID numbers differentiate the wide range of taxpayers. You can find or apply for most types of tax ID numbers through the IRS, SSNs being a notable exception. However, after Executive Order 9397 was signed in 1943, the SSN began being used by federal agencies as a way to keep accurate records for individuals.

How to pay yourself in an LLC

However, be mindful that an EIN still works to protect personal information. Don’t write it just anywhere or leave the number laying around for everyone to see. Take care of this number as much as you would an SSN when using it on official documents and paperwork.

  • There’s a better way to access your retirement funds to start or buy a business without triggering penalties.
  • Take care of this number as much as you would an SSN when using it on official documents and paperwork.
  • Businesses are legally required to identify their companies with either an SSN or EIN and many choose to use their EIN.
  • If you provide the requisite identification and proper proof of authorization, the IRS employee will give you your EIN number over the phone.
  • Even though it is used mainly for identifying and reporting companies, it is also needed for opening bank accounts, getting permits and licenses, and handling payroll for employees.

It is important not to confuse the Number with the VAT Number. The VAT number is required for businesses, unless registered as a small business , and is requested by filling in the same form as above . Small businesses are not required to collect and pay VAT. Download Siemens-Betriebskrankenkasse brochure for a professional and complete overview of the health insurance services they provide in Germany.

What Is an EIN Number?

FacilitaIs There A Difference Between Ein And Tax Id Number? g a move to Germany is seamless when you rely on the Welcome Center Germany. You can obtain an ITIN Number by completing Form W-7 and mailing it to the IRS.


This ensures that you are able to apply for and receive your EIN in one session without repeatedly coming back again and again. There is no time limit to applying for an EIN online. That being said, do not stay on any one page for more than 15 minutes.. If you do, your session on that page will expire and you will need to apply all over again. MyCorp advises checking in on the site regularly to make sure you are mailing the application to the proper point of contact. Once your form has been received in the mail, expect up to four weeks for the EIN application to be processed. The IRS has set a daily limitation to the number of EINs that may be issued out.

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