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Many business owners wonder if they need a new EIN if the structure of their business has changed. When adding employees or altering certain aspects of the business, questions of needing a new EIN might come up. If you are unsure as to if you need a new EIN, your daily life can become stressful. Below are a few instances where a new EIN is needed for a business to help you figure out your dilemma. IRS-EIN-Tax-Id can help you if you need a new number.
Changes that Require a New EIN
There are certain changes you can make to a business entity that will require an application for a new EIN. A sole proprietor that decides to incorporate the business is one such example. This change will require a new EIN. Changing a partnership also requires a new number.
If the company becomes subject to bankruptcy proceedings or a new business chapter is provided by the secretary of state, a new EIN is needed. A new number is also required when forming a new corporation after a merger.
Knowing when to file for a new EIN is crucial in the setup of your business. Whether you need a new estate tax ID number or an EIN for a partnership, IRS-EIN-Tax-ID can help. Using the online service will ensure you choose the right path for your business.
Assistance is offered online at the site for any questions or concerns you may have. Businesses can file for their very first EIN online as well as speak to support to find out if changes made to an existing business require a new EIN. Support is always available to help with filling out the appropriate forms as well as knowing when to file for a new EIN.
Taking the proper steps to have the EIN in place ensures that your business is ready to function properly.