In today's fast-paced business world, having an Employer Identification Number (EIN) is essential for any entrepreneur or small business owner. An EIN is a unique nine-digit number assigned to a business by the Internal Revenue Service (IRS) and is used to identify the business for tax purposes. If you're a student or alumni of Ivy Tech, obtaining an EIN can be a straightforward process. In this article, we'll explore five ways to obtain an EIN from Ivy Tech.
Obtaining an EIN is a crucial step in establishing a business, and Ivy Tech provides resources to help students and alumni navigate this process. Whether you're starting a new business or already have one, having an EIN is essential for tax purposes, opening a business bank account, and hiring employees. In this article, we'll delve into the importance of having an EIN and provide step-by-step instructions on how to obtain one from Ivy Tech.
Why Do I Need an EIN?
Before we dive into the ways to obtain an EIN from Ivy Tech, let's discuss why having an EIN is essential for your business. An EIN is required for:
- Filing tax returns
- Opening a business bank account
- Hiring employees
- Obtaining business licenses and permits
- Applying for business loans and credit
Having an EIN is essential for establishing a legitimate business and separating your personal and business finances.
Method 1: Apply Online through the IRS Website
The fastest way to obtain an EIN is by applying online through the IRS website. This method is available to most businesses, including those owned by Ivy Tech students and alumni.
To apply online, follow these steps:
- Go to the IRS website at
- Click on the "Apply for an Employer Identification Number (EIN)" link
- Fill out the online application, providing your business and personal information
- Submit the application and receive your EIN immediately
Method 2: Apply by Phone
If you prefer to apply by phone, you can call the IRS Business and Specialty Tax Line at (800) 829-4933.
When applying by phone, be prepared to provide your business and personal information, including your name, address, and social security number or individual taxpayer identification number (ITIN).
Method 3: Apply by Mail or Fax
You can also apply for an EIN by mail or fax by completing Form SS-4, Application for Employer Identification Number.
To apply by mail or fax, follow these steps:
- Download and complete Form SS-4 from the IRS website
- Attach the required documentation, including your business license and social security number or ITIN
- Mail or fax the application to the IRS address listed on the form
Method 4: Apply through Ivy Tech's Small Business Development Center (SBDC)
Ivy Tech's SBDC offers free business consulting and low-cost training to students and alumni. They can also assist with obtaining an EIN.
To apply through the SBDC, follow these steps:
- Contact the Ivy Tech SBDC at (317) 921-3122 or
- Schedule an appointment with a business advisor
- Provide the required documentation, including your business license and social security number or ITIN
- The business advisor will assist with completing the EIN application
Method 5: Apply through a Third-Party Service
There are several third-party services that can assist with obtaining an EIN, including BusinessLicense.com and Incfile.com.
To apply through a third-party service, follow these steps:
- Research and select a reputable third-party service
- Provide the required documentation, including your business license and social security number or ITIN
- Pay the service fee, which can range from $50 to $200
- The third-party service will assist with completing the EIN application
Gallery of EIN Application Methods
FAQs
What is an EIN?
+An EIN is a unique nine-digit number assigned to a business by the IRS and is used to identify the business for tax purposes.
Do I need an EIN?
+Yes, an EIN is required for most businesses, including those owned by Ivy Tech students and alumni.
How do I apply for an EIN?
+You can apply for an EIN online through the IRS website, by phone, by mail or fax, through Ivy Tech's SBDC, or through a third-party service.
Obtaining an EIN is a crucial step in establishing a business, and Ivy Tech provides resources to help students and alumni navigate this process. By following the methods outlined in this article, you can easily obtain an EIN and start building a successful business.