A Comprehensive Guide on How to Get an EIN in Chicago
Getting an EIN Can Be a Headache for Chicago Entrepreneurs3 min read
For many entrepreneurs in Chicago, getting an Employer Identification Number (EIN) - also known as a Tax Identification Number (TIN) - can be a real headache. Instead of spending hours researching to figure out how to get an EIN in Chicago, why not make the entire process much simpler and hassle-free by enlisting the assistance of an experienced business attorney? Working with an experienced lawyer can significantly reduce the amount of time, money and effort required to obtain an EIN, particularly for businesses located in Chicago.
In this comprehensive guide, we will discuss everything you need to know about how to get an EIN in Chicago. We will start by talking about why you would need an EIN, the application process for getting an EIN, how to properly use an EIN, and how a business attorney can help in the process.
Why Do I Need An EIN?
An EIN is a unique 9-digit number that is used to identify a business entity for federal and state tax purposes. It’s used to file state and federal taxes, open a business bank account, and hire employees. In short, if you are a business owner or a stakeholder in a business, you need an EIN for your business.
How Do I Get An EIN In Chicago?
Once you’ve determined that you need an EIN, the next step is to begin the application process. There are three main ways to apply for an EIN in Chicago: online, via a telephone interview, or in-person.
The fastest and most common way to apply for an EIN in Chicago is online. To apply for an EIN online, you will need to fill out an online EIN application and upload copies of the required documents. Depending on the type of business entity you are applying for, the list of required documents can vary.
The second way to apply for an EIN in Chicago is to have a telephone interview with an IRS representative. This is a good option for entrepreneurs who don’t have access to the necessary paperwork or have difficulty completing the online application. This process can usually be completed in a few hours.
The third option is to file for an EIN in person at the IRS office in Chicago. This is a good option for businesses that have multiple owners or shareholders. It is also a good option for businesses that have many documents or complex business structures.
Using Your EIN
Once you have obtained your EIN, you will need to use it for all of your business activities. This includes registering for taxes, opening a business bank account, applying for licenses, and hiring employees. Make sure to keep the EIN in a safe, secure place and to tell your employees about it.
How An Experienced Business Attorney Can Help
For many entrepreneurs in Chicago, the process of obtaining an EIN can be a daunting task. An experienced business attorney can provide invaluable assistance in the process of obtaining an EIN in Chicago. An experienced lawyer can guide you through the entire process, advise you on the necessary paperwork, and make sure that everything is taken care of in a timely and efficient manner.
At UpCounsel, we provide access to experienced attorneys from across the United States who can provide you with legal advice and assistance on everything from how to get an EIN in Chicago to forming a new business entity. Our experienced attorneys have an average of 14 years of experience and can provide you with high-quality, cost-effective legal services when you need them the most.
Obtaining an EIN in Chicago can be a complex and arduous task. However, by enlisting the assistance of an experienced business attorney, you can significantly reduce the amount of time, money and effort needed to obtain an EIN. At UpCounsel, we provide access to experienced business attorneys that can provide you with high-quality legal services at cost-effective rates.