Every business owner knows that they must have a federal tax ID number for their enterprise. Commonly called as the Employer Identification Number (EIN), the federal government and the Internal Revenue Service use it to keep track of your business’ tax records and payments.
Keep in mind that it is vital information that you must always protect. However, unforeseen circumstances can sometimes arise wherein you misplace the document itself. This does not mean that the EIN assigned to you is lost. Like with other Tax ID’s, there are ways to look it up and find it again. This article presents the specific ways you can do just that.
What is the EIN?
As you are probably keenly aware, the EIN number is used to identify your business for tax purposes. In particular, it is used to file reports regarding employment taxes and income taxes. Take not that it is a requirement for all registered businesses to have one. It would also be impossible for your company to have its own bank account without submitting a copy of this particular document.
Your business’ EIN is best compared to an individual’s Social Security number. It performs the same function, but instead of keeping track of one person, it keeps track of an entire business enterprise. That being said, one can imagine just how important this document is.
In the event wherein you have misplaced or lost your Tax ID containing the EIN, do not fret. It is vital that you have wits about as you try to search for your lost ID number. Keep in mind that the IRS has put in place a number of safeguards to ensure that you can retrieve your EIN in case of loss. Here are a few specific ways on how you can do just that.
- Contact the IRS Directly – Directly contacting the IRS is probably the easiest way to go. They have a dedicated Specialty Tax Line which you can call. The IRS representative would probably be more than happy to guide you through the whole process. Alternatively, you can also go to their website and check the status of your business’ EIN there. Keep in mind, however, that this information will not be given to anyone as only authorized company owners and personnel are legally mandated to inquire on the matters relating to a business’ tax ID number.
- Visit the Local IRS Branch – If you have more time, then you can also swing by the local IRS Tax center in your area. There are many assistance centers whose main purpose is to assist taxpayer in matters such as this.
- Go Online – There are many websites that can be of service in times like these. For instance, you can visit the Securities and Exchange Commission (SEC). It hosts the largest business database in the United States.
Your Tax ID and your EIN are vital and must be protected at all costs. After all, they are crucial to your business enterprise. This article presents readers with the different ways they can look up the information they need in case they have been misplaced or lost.