Federal tax ID ?

[brewercm]

Ah, it was from the Texas workforce commission. I don't need to fill it out since I don't employ anyone.

[ronocnikral]

Originally Posted by Tom

When you are doing contract work for other companies. You just need to provide the EIN rather than your SSN on dozens of W9s.

True and valid point. But since I don't do contract work, I don't have to worry about this. Even if I did, I'd have no problem turning over my SSN.

I personally wouldn't get a TIN/EIN. I'm more worried about some ripping off my actual CC numbers, not neccessiarly my SSN to apply for credit. to each their own.

[XtremePhoto]

Originally Posted by brewercm

On the paper they sent me they have a spot that they want you to put your federal tax id. What would they need that for. I'll need to look at it again.

In my experience, the only time that State and Federal Government work together is when they are extracting taxes or money from you. Hence they want your Federal EIN as well.

You are not required to have a EIN (Employer Identification Number) unless you have employees. However, as Thomas pointed out, if you do any work with corporations, large business, Schools, non-profits, etc. they will REQUIRE a W-9 from you and some companies won't even do business with you unless you can provide them with an EIN. May not be required, but that is how they do business.

Just a note, if you have employees, you will also have to have a TWC Account as well. The State has to get their dime for Unemployment as well as the Federal Government.

Having an EIN is just smart business.

-G-

[ronocnikral]

I made the mistake of assuming one would run their business the same as I do.

I know almost 12 years of being in business isn't a lot to some people here, but we have never needed one. "smart" business or not. If we ever do, we'll cross that bridge when we get there. ymmv.

[groovyone]

Originally Posted by ronocnikral

I made the mistake of assuming one would run their business the same as I do.

I know almost 12 years of being in business isn't a lot to some people here, but we have never needed one. "smart" business or not. If we ever do, we'll cross that bridge when we get there. ymmv.

Aren't you under 30?

[ronocnikral]

Originally Posted by groovyone

Aren't you under 30?

Yes, I am. But, since my wife robbed the cradle, she is well over 30, and has had her business approaching 12 years. I've only been along for the ride for around half that. But, the principal still holds true. Please let me rephrase:

The business that I am now apart of, as a general partnership, has never needed a EIN in almost 12 years.

would anyone like to send me a 4506 form to further this inquisition?

[groovyone]

http://www.irs.gov/pub/irs-pdf/f4506.pdf

[ronocnikral]

so, you are on a witch hunt?

Such kind overlords in the land of unicorns and rainbows.

[groovyone]

Just screwing with you. You got defensive suggesting the form on what was just an honest question based on your 12 year comment. If we were on a witch hunt your forum bashing wouldn't have lasted this long.

[ronocnikral]

touche. have a good one.

[Buddha]

Re:4506 Fee $57
Let me save you some money and some time. A Return Transcript has the same data as your return, is easier to read and is accepted at finer financial institutions everywhere on a daily basis. I sent out many of them as an IRS employee.
You can call and ask for one and they will mail you one for free. Better yet, if you are standing by a fax machine and can give them the ph#, they will fax you a transcript in less that 10 minutes. For anyone who will need to fill in a FAFSA for school, this is the way to go. They send out hundreds every month. There are several versions of them, for school, for home loans, etc. I'm not what the difference is, but tell the contact rep why you want it.

[Howard Barlow]

Originally Posted by XtremePhoto

Having an EIN is just smart business.

If you need one. If you don't, it is totally useless. I had a few employees in the 80's. Never will again. Haven't used it since.