What is FEIN Lookup?
Many a times you fill in a form at a bank or any other government form that requires your federal tax identification number. But unfortunately you don’t have a FEIN lookup. This is one field that business owners have to pay attention to, and here comes the need to understand what exactly federal tax identification number is and if your businesses lookup does it or not.
It’s also called an employer identification number or EIN, and is assigned by the IRS to your business. The tax identification number is employed to verify your business as per the regulations of business laid down by the different federal agencies.
Now the question arises if your business actually requires a federal tax number or not. Remember that a federal tax identification number is desired by any business, which is offering its customers taxed services or products. That means that if your businesses lookup to the collection of sales tax, a federal tax number is a must. The forms that have anything to do with the government as far as your business is concerned need tax identification number or a social security number.
It can also be put like this that if you’re are a business owner who has a staff of employees and/ or are eligible to pay taxes of any nature, then your will require an FEIN lookup.
How to get a Federal tax number?
The best way to get your EIN is to contact the local IRS office. There are IRS business hotline numbers, wherein one can call and get to know the procedure for the same. One can also apply online through the IRS web site for EIN. There you may be asked a few questions related to your business, in a form format. By downloading the form, you can answer the desired questions and the confirmation notice for EIN can later be printed to present as a proof.
Then there is the regular way of applying through IRS form SS-4. This option is a more time consuming method and takes quite some time as compared to the online method, which is the one that mostly people consider these days.
While filing the form, ensure that in case you don’t have any employees under your firm, then you have to mark at the top of the form with “For Identification Purpose Only”. This way it saves time for you as well as the IRS since the purpose of filling the form is clearly mentioned.