What Is An SS-4 Form?
When it comes to tax season, there is a great variety of forms that you must file with the IRS. If you are an employee with a social security number, you will use that number as your tax ID and file a 1040, 1040 A or 1040EZ. However, if you happen to own a business or be an independent contractor, you may also need to fill out a SS-4 Form. Here is a bit more information on the SS-4 form:
When do You Need an SS-4 Form? Filling out an SS-4 form will allow you to obtain an IRS EIN Tax ID number, or IRS Employer Identification Number. The EIN is typically required for businesses including corporations and partnerships. If you are not sure whether or not your business requires an EIN, you can look at the full list of requirements on irs.gov. If you are an independent contractor, there are a few perks to filing for an EIN. First, having an EIN that is different from your own social will help protect your business from identity theft. In addition, having an EIN will allow your company to look more professional in the eyes of potential employers.
Submitting Your SS-4 Form: You can find the IRS SS-4 online at irs.gov and submit the form by mail, fax or online. If you submit by mail or fax, you can expect a bit of a wait time before you get your EIN- not a good idea if you are already pressed for time during tax season. However, submitting your SS-4 form online will allow you to get your EIN almost instantly, which can be extremely helpful in allowing you to get your taxes filed in a timely manner.
Remember that the SS-4 will allow you to obtain an EIN number, but you will still have to file your actual taxes, which can also be done on your own or with the aid of an expert.