The Small Business Tax Help Blog

Posts Tagged ‘obtain ein number online’

Question: Can you obtain an EIN number at no cost?

I need to know if it is possible to do this online for free? Where/how?

Answer: Yes, just call directly…you can do this over the phone at
(800)904-2300.

SCORE: Steps to take when setting up a payroll

Last week I had a question from a new business owner who asked how to set up a payroll system for the business.   This is a very good question and identifies a task that must be carefully done.

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Question: How to open US bank account and get Individual Taxpayer Identification Number (ITIN) for Non US Citizens?

Can I obtain an EIN ?? if I am not an US resident or citizen?
Im planing to join a network business via online which requires tax id and US bank account..

What are the details/document do i need?
What is the cost?
Can it be done via online???

Please give me an advise on this..Thanks

Answer: No, stop, don't do this.

1. If the entity you want to pay you only accepts US persons as members, do NOT pretend that you are. The entity would pay you, then issue you a 1099-Misc and a copy to the IRS. The IRS would, rightly, assume you are subject to US taxes and demand a tax return. (US taxes start at income of $400 for self-employment purposes.)

2. If the entity that is to pay you knows you are *not* a US person, they should also know they don't issue a 1099-Misc.

3. While there are US banks that will open accounts for you (and you DO NOT need an ITIN for a bank account, even if it pays interest), most won't do it unless you open the account in person, in the US.

Horizon Council: Consider these factors when doing business

The Fort Myers Regional Partnership, Lee County's Economic Development Office offers a wide range of business assistance and can also help businesses...

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