How Can One Pay for Their EIN?        

There are several expenses that come up at the start of a business. It is important to maintain good records and separate personal and business expenses as much as possible to avoid problems with the IRS. However, businesses might not be able to secure a separate checking account or credit card until after receiving an EIN, or employer identification number. This leads to the question, how can one pay for it?

Know the Cost

Before deciding how to pay for the EIN, it is important for a business to know how much it costs. Filing directly through the IRS tends to be the least costly in terms of money, but it can take a lot of time and effort, and in business, time is often money. Working with a filing service streamlines the process and removes any common frustrations and fears associated with working with the IRS.

The service providers have different fees. When assessing the different companies, review what services come along with the fee. It is always a good idea to understand whether there are any guarantees or refund policies in place as well.

Paying for the Service

Once you have decided on which service to use, you must decide how to pay for it. Generally, businesses can pay using major credit cards, such as MasterCard and Visa. It might also be possible to use an electronic check or ACH withdrawal. Businesses wishing to use a different form of payment might need to discuss it with the company directly to determine if it is possible. It is essential to retain the receipt to help you demonstrate that you paid for this business expense when it comes to filing for taxes for that year.

Businesses often have to have an EIN to set up a bank or line of credit. Those unsure whether they have one can use an EIN number lookup tool. This can also work to verify an EIN number that already exists. Contact IRS-EIN-Tax-ID Filing Service to learn more.