IRS Tax ID (EIN) Application

Frequently Asked Articles

What is a Partnership?

A partnership is a business relationship under which a single business is owned by multiple individuals. Partnerships are required to have their own EIN/ITIN because they need to file their own tax returns. A partnership will be taxed with flow-through income, which means that each individual partner is responsible for their income and their loss. […]

What is a Non Profit Organization? | Definition of a Non Profit Organization

A non profit organization is an enterprise that does not have owners and does not generate profit for any individuals. For the purposes of the IRS, a non profit organization may also be called a tax exempt organization. Otherwise, a non profit is often created very similarly to a business structure, but rather than being […]

How to Open a Bank Account for a Church-Controlled Organization

Opening a bank account for a church-controlled organization is the same process as opening a bank account for a church or for a business. To open a bank account for a church-controlled organization, you will need the following: -The initial formation documents for the church-controlled organization. -The employer identification number for the church-controlled organization. -A […]

How to Open a Bank Account for a Church

Opening a bank account for a church is similar to opening a bank account for any other business or organization. First, the church is going to be required to have all its formation documents. Like a business, the church has to have articles that describe its organization, how it works, and who is ultimately in […]

Does a Community or Volunteer Group Need a Tax ID (EIN) Number?

A volunteer or community group is a type of non-profit organization, designed to enrich the local community or volunteer for specific causes. An informally organized non profit or community group is not legally required to have an EIN, but there are situations in which an EIN might become necessary. For instance, if the community group […]

Does a Church-Controlled Organization Need a Tax ID (EIN)?

A church-controlled organization, being a separate organization from the church itself, does need its own Church Tax ID or EIN Number. This EIN will be used to open bank accounts, hire employees, get permits from the state, and generally operate and run the organization. An EIN functions much like a social security number, but for […]

Does a Church Need a Tax ID (EIN)?

As a church generally doesn’t need to pay taxes, some might think that it doesn’t need a tax ID. However, a church does need a tax ID, as it still needs to file taxes even though it may not pay them. A church uses its tax ID number to identify it to the government, as […]

How to Open a Bank Account for an LLC

Opening a bank account for an LLC (Limited Liability Company) requires that you first organize your documentation. You will need your company’s state certificate, your Limited Liability Company’s EIN Number, and information about the principal owners of the company (anyone with more than 20% ownership). Your bank may or may not also request your Articles […]

Does an LLC Need a Tax ID (EIN) Number?

A Limited Liability Company (LLC) will usually need a tax ID number. A tax ID number is also known as an employer identification number (EIN) as it fulfills both roles; it identifies the business for the purposes of taxes, and also identifies the business when hiring employees. There’s only one exception: a single member LLC […]

How to Open a Bank Account for a Bankruptcy Estate (Individual)

As an individual, when you declare bankruptcy, a bank account will be opened for your bankruptcy estate. This bank account will be used to manage your assets, liquidate necessary assets, pay off your debts, and dissolve your debts. Your bankruptcy trustee will be in charge of this bank account and will manage your assets for […]

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