Should I get an EIN for my new tax prep business?

Employer Identification Numbers (EINs) are generally used if you hire employees and wish to keep your social security number off of their W2 or 1099 wage statements.  You can also use an EIN to open an business bank account.  Just because you get an EIN does not mean that you have incorporated your business and now how to file a corporate tax return.  Sole proprietorships can apply and receive an EIN just as corporations can.  If you would like to apply for an EIN for your tax business, contact Federal Direct and we will assist you in obtaining an EIN.

Joseph Rogers

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