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EIN is Mandatory for the Business and Individual Tax Form E-filings

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Employer Identification Number (EIN) on a clipboard.

An employer identification number (EIN) is a nine-digit number assigned by the IRS for the purpose of identifying taxpayers who are required to file various federal tax returns. An EIN or the Federal tax Identification Number is commonly applied by filing an SS-4 application or by contacting the IRS @ (800) 829-4933.

However, most tax payers are not aware about the fact that one must wait until 15 business days for the EIN to be recorded in the IRS e-file database before e-filing a tax form. This fact has been stated by the Federal law of the United States and this thumb rule remains in common for all the Federal Tax Forms such as follows:

  1. Form 2290 ( Heavy Highway Vehicle Used Tax Return)
  2. Form 720 (Quarterly Federal Excise Tax Return)
  3. Form 8849 ( Claim for Refund of Excise taxes)

Unaware of this above mentioned fact, may tax payers tend to use their newly applied EIN while e-filing any one of the Forms listed above would encounter a rejection of application by the Internal Revenue Service since the EIN might not reflect on their database.

At this time, a tax payer has 2 options to sort surpass the rejection, likely either to wait until 15 business days before re-transmitting their application to the IRS (or) By Scheduling an appointment at the local IRS office to File & pay their tax form using the newly applied EIN or SSN.

For any questions on queries feel free to reach our handpicked, Industry’s Best Tax Experts @ 1-866-245-3918 or write to them @ support@Taxexcise.com or ping them using the LIVE CHAT Option on the website.

 

Importance of EIN, When You E-file Your Form 2290

ECG Stands for electrocardiogram, In Trucking Industry ECG stands for Engine, Clutch & Gear. These are the very important things that your check before you hit the road with your Heavy Rig. Likewise EIN is one of the most important things that you need before you could E-file your Federal Excise tax Form 2290.

What is EIN?

EIN Employer Identification Number, Also known as Federal Employer Identification Number (FEIN) or the Federal Tax Identification Number. The EIN is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to business entities & Individuals operating any kind of business in the United States for the purposes of identification. Continue reading →

Misconception between TIN & EIN

TAXPAYER IDENTIFICATION NUMBERS (TIN)

A Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. It is issued either by the Social Security Administration (SSA) or by the IRS. A Social Security number (SSN) is issued by the SSA whereas all other TINs are issued by the IRS. Continue reading →