Setting up of a new business involves many important tasks like setting up financial arrangement like loans and bank accounts, getting necessary permits and licenses to operate the business, charting out marketing and sales plans and many more important activities. All these activities like opening business bank accounts, getting a line of credit from the banks, inventory purchases, hiring employees and filing tax returns require an EIN number and a state tax ID number. IRS issues the Employee Identification Number to the business organizations. It is a unique number consisting of 9 digits and helps the IRS to identify businesses for the purpose of taxation.
Business organizations can obtain EIN in Michigan by telephone, mail or through online application available on the website of IRS. Filing for an EIN through phone requires the business owners to answer a series of questions in a telephonic interview with an IRS employee. Business owners, who want to apply for EIN through fax or mail, can download the application from the IRS website and submit it by fax or mail. Filing for an EIN through the online process is the most fastest and efficient way of obtaining EIN in Michigan.
Filling up of the EIN application needs some important information. Business owners must keep all the information handy when they are filling an EIN application form. They should have the details like, the legal or registered name of the business as mentioned at the time of incorporation, the name of the responsible party to take care of the funds and assets of a business organization, the physical address of a business, the mailing address if you are not able to accept mail at the physical address, the type of business conducted by the party, phone numbers and valid Email ID and so on. Business owners must furnish correct information in the application to obtain EIN in Michigan without any glitches.
If a EIN number is lost is misplaced, the business can easily find the number by locating the number on the computer generated IRS notice issued at the time of issuing the IRS number. They can also get it from the banks as they maintain the file of the business organizations along with the EIN number. Business organizations can also obtain EIN number in Michigan that is lost or misplaced, by contacting the IRS. They provide the number to the company after confirming the details with the information in the original form.