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Can You Have a Business Without a Tax ID?

Posted By ivanpw 1025 days ago on Business -  
Applying for federal tax ID is a must when starting a new business. Indeed, starting up is not only about turning your ideas into reality, but also about complying with the existing laws and regulations.  For the said compliance requirements, a trust tax ID number is needed to be able to distinguish your business as well as assist with the filing of employee taxes as well as your own.
However, compliance is a challenging process. There are several criteria that the IRS has set with the EIN system, requiring business owners to obtain a number in order to conduct tax-related actions where a social security would otherwise be used.…
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