What Is a Tax Identification Number ?
A Taxpayer Identification Number (TIN) is a identification number the is used by the internal revenue services to track the expenses for people, trust,estates, and business in the united states. Most situations will cause you to need some type of identifying number to track expenses or report any gains to the IRS.
DO I Need a Tax Identification Number (TIN)
If you are looking to establish or do any type of business in the united states, then it is required by law for you to obtain a tax identification number (TIN). If you are not establishing a new business or are just looking to do some spring cleaning and sale some belongings on ebay, then it is not a requirement for you to have obtain a tax identification number(TIN). But be aware that if you are making gains of more than a 1000$ annually then you might want to seriously consider applying for your Tax id number.
How Do I Apply For a Tax Identification A common question is how do I apply for a tax Identification number (TIN) and it just depends on what the time frame that you are needing to obtain it. One of the first options you can take is to contact a local attorney and have he/she complete the process for you, in some cases that can cost up to 200$. Another option you can take is by completing an IRS tax form and mailing to the irs, this process can take up to 2-3 weeks and if the tax form is filled out incorrectly, your tax identification number (Tin) can be declined. The third options you can take to obtain a tax identification number is by simply filling out a tax identification number application online by a 3rd party service provider. We recommend – service price is only 49.99 and they can ensure your tax identification number (Tin) will be delivered in less than 24 hours or it’s free.