When it comes to starting a business, there’s never a shortage of red tape to navigate. Fortunately, payment processing for an EIN is easy, and you only have to pay the cost of EIN one time.
EIN is an acronym for Employer Identification Number. The Internal Revenue Service (IRS) uses this nine-digit number to track tax obligations of various legal entities.
How to Apply for an EIN
There are many ways to obtain an EIN; the easiest and fastest way is to apply for an EIN online. You may also choose to apply by phone, or by mail. However, these application processes can take up to two weeks to complete. Online applications are generally processed within 24 hours, and you can start using your EIN as soon as you get it.
Once payment processing for an EIN is completed, you will not need to pay for it again. An EIN will remain with the business entity in perpetuity unless the business changes entity types, or the business declares bankruptcy.
Depending on the type of business you establish, there may be other circumstances that require a new EIN, but in most cases an EIN is locked in for the life of the company.
The cost of EIN depends on the service provider you choose, and the method you prefer in the application process.
Don’t Wait to Apply for an EIN
EINs are important tax ID numbers that most businesses will need to perform essential business tasks. Payment processing for an EIN will occur once when you apply for an EIN; beware of services that require multiple payments.
Apply for an EIN today and you can start using it tomorrow. GovDoc Filing is the best choice for simplified payment processing, and an easy application process.