My Company Gave Me a 1099, Do I Need a Tax ID Number?
The IRS requires businesses and individuals to fill out the 1099-MISC if they reach the $600 threshold for services rendered in the fiscal year. The Employer Identification Number (EIN) refers to the 9-digit number unique to each company. In theory, you can still process your documents even with the absence of the EIN. Hiring a Tax ID filing service will make the process easier for you.
When a business files the 1099-MISC, they need the information of other enterprises and individuals they are working with.
In fact, the business should already be working on the EIN even before going into business with anyone. This ensures that they don’t encounter any tax problems later on when it’s time to deal with the IRS.
How and Where to Get TIN and EIN
You can get your company to fill out the W-9 form or the “Request for Taxpayer Identification Number and Certification”. The company is required to give this to you at the risk of being hit with a penalty. In the same vein, you may also pay a penalty if you are not able to submit all the necessary requirements at the time of the deadline.
If you can’t obtain the EIN at the time of filing, you can just leave that blank for the time being. However, you will need to submit the EIN to the IRS the moment you are able to get it.
If you find the whole process confusing, you can just secure the services of a GovDocFiling service. With the help of the tax ID filing service, you can get the employer number within the same day sent to your own email.
The GovDocFiling process is very easy: you just need to click on the type of entity that you establish. You then fill out the online application form, and finally, you just sit back and wait for your Employer Identification Number (EIN).