Drake Software blog for tax pros, covering tax, IRS news, and more

IRS Tightens EIN Regulation

IRS Tightens EIN Regulation

The Internal Revenue Service says getting a tax ID number for a business is going to be a little tougher after May 13. After that date, the IRS will require the taxpayer listed as the “responsible party” on the EIN application to have a Social Security number (SSN) or an individual taxpayer identification number (ITIN) in order to receive an Employer Identification Number (EIN) from the IRS.…

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