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EIN (Employee Identification Number)
 

For the first time, I'm having several accounts getting hit with the "Tax info requested" message. I know how to apply and get an EIN but can someone refresh me on what needs to match? I know the business name needs to match but what about the name on the stealth?

Also, when it comes time to file taxes I usually lump all my accounts into a self-employed tax and file it as one business. Will I have to file each EIN separately from now on or can I continue filing my taxes the same way I have been for years?

Re: EIN (Employee Identification Number)
 

Trying to find previous threads where this has been discussed before but not having any luck. If you know of one, please link them.

Basically just need to know if the stealth name needs to match the name associated with the EIN and if having multiple EIN's will change the way I file my self-employed income tax.

Re: EIN (Employee Identification Number)
 

Keep in mind that if you recently apply for an ein and provide it to them and they cross check it will come up incomplete as it takes a while to show in the irs system.

Re: EIN (Employee Identification Number)
 

You are only permitted to have one EIN as a sole proprietorship. You must set up LKC's or S-corps in order to have multiple EIN's. Single member LLC'S do offer pass-through taxes to lesson some of the tax burdens of filing multiple taxes, but each will incur added expenses including, but not limited to bookkeeping, registered agents, yearly state filing charges, etc. I know you are looking for quick and easy answers, but the best advice is to speak with a business attorney and a tax advisor for comprehensive information you're not going to find in these forums. Good luck!

Re: EIN (Employee Identification Number)
 

Do you know approx how long?

Re: EIN (Employee Identification Number)
 

2 months for active status

Re: EIN (Employee Identification Number)
 

Does stealth name need to match name associated with EIN? Which in my case I would be going LLC route- so not sure if LLC is associated with it or a name.

Re: EIN (Employee Identification Number)
 

Business name must match the EIN number.

Nothing else matters

Re: EIN (Employee Identification Number)
 

Business name on the Paypal account must match business name on EIN correct?

Re: EIN (Employee Identification Number)
 

That's correct.

Re: EIN (Employee Identification Number)
 

To add to this I usually upgrade my account the same day i receive my EIN and never have had an issue. Even though it may take time to become available doesnt mean you cant use it or that adding it will fail.

Re: EIN (Employee Identification Number)
 

When I upload a EIN I got in my name it says the records aren't consistent with IRS records but the business name on my Paypal is the same that is on the EIN

Re: EIN (Employee Identification Number)
 

How did you make out?

Re: EIN (Employee Identification Number)
 

I was wondering this too, I opened an LLC back in 2014 but my tax guy suggested i file as an S corp to save more money, so to the IRS, i'm an S corp. Does that mean I can get another EIN? I have a US stealth account that i've had since 2017 but I haven't used it yet, I want a new EIN so should I be okay?

Re: EIN (Employee Identification Number)
 

Takes some time (2-4 weeks if I remember correctly) for the IRS records to update so that Paypal can accept it but it all went fine.