Tampa Tax Attorneys Assisting With Securing Employer Identification Numbers (EIN) In Sarasota, St. Petersburg, Clearwater and All of Florida
The Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify business entities. Basically speaking, a business needs an EIN if it meets any of the following criteria:
- It has employees
- It operates as a corporation or partnership
- It files tax returns for Employment, Excise, or Alcohol, Tobacco, and Firearms
- It withholds taxes on income other than wages paid to a non-resident alien
- It has a Keogh plan
- It is involved with: trusts (except certain grantor-owned revocable trusts), IRAs, Exempt Organization Business Income Tax Returns, estates, real estate mortgage investment conduits, non-profit organizations, farmers’ cooperatives, or plan administrators.
EINs are similar in purpose to the Social Security Number assigned to individuals. They are used by employers, sole proprietors, corporations, partnerships, non-profit organizations, trust and estates, government agencies, certain individuals, and some other business entities.
Individuals that are employers may elect to either obtain an EIN or use their Social Security Number for the purpose of reporting taxes withheld on behalf of their employees. EINs will never expire, and once an EIN is issued to an entity that number will never be issued again.
There are numerous methods for acquiring an EIN from the IRS, and there are extensive requirements and limitations for the types of entities that need to apply, when an entity needs a new EIN, and when a new EIN is not required.
The aid of a knowledgeable tax attorney, such as the lawyers at Yesner and Boss, P.L., will be of considerable use to new corporations and business start-ups, as well as for business that are restructuring. Residents of Tampa, St. Petersburg, Sarasota, Clearwater, New Tampa, and areas throughout Florida are encourage to contact Yesner and Boss, P.L. for a consultation to determine the EIN requirements for their businesses.
