147c

What is an IRS Letter 147c?

An IRS Letter 147c, also known as an EIN verification letter, is a document issued by the IRS to confirm a business's EIN. This letter is typically requested when a company has lost or misplaced its original EIN documentation. It's important to note that a 147c letter does not create a new EIN but simply verifies an existing one.

Understanding Your EIN and the 147c Letter

An Employer Identification Number (EIN) is a unique nine-digit number assigned by the IRS to businesses for tax identification purposes. It's essential for various business activities, including filing taxes, opening bank accounts, and obtaining business licenses.

When Do You Need an EIN Letter?

You may need to provide official proof of your EIN in several situations:

• Tax Filing - When completing federal tax forms, you'll need to include your EIN.
• Opening a Business Bank Account - Most financial institutions require an EIN to open a business account.
• Obtaining Business Licenses and Permits - Many state and local government agencies require an EIN for business licensing purposes.
• Hiring Employees - When you have employees, you'll need an EIN to file employment taxes.
• Business Loans - Some lenders may request your EIN as part of the loan application process.

How to Request an IRS Letter 147c

If you cannot locate your EIN and need to request a 147c letter, follow these steps:

• Contact the IRS - Call the IRS Business and Specialty Tax line at 1-800-829-4933. The line is open Monday through Friday from 7:00 AM to 7:00 PM, taxpayer local time (Alaska and Hawaii follow Pacific Time).
• Provide Information - Be prepared to answer several security questions to verify your identity and business information.
• Receive Your Letter - The IRS will mail or fax you the 147c letter containing your EIN.

If you believe your EIN has been compromised or stolen, contact the IRS immediately to report the issue.

FAQs

• What is an EIN?
  • An EIN, or Employer Identification Number, is a unique nine-digit number assigned by the IRS to businesses for tax identification purposes.

• Why do I need an EIN?
  • You need an EIN for various business activities, including filing taxes, opening bank accounts, hiring employees, and obtaining business licenses.

• How do I get an EIN?
  • You can apply for an EIN online, by phone, or by mail. Visit the IRS website for detailed instructions.

• What if I lose my EIN?
  • If you lose your EIN, you can request an IRS Letter 147c to verify your EIN.

• How long does it take to receive an IRS Letter 147c?
  • The IRS typically takes several weeks to process a request for an EIN verification letter.

• Can I use my Social Security number instead of an EIN?
  • In most cases, you cannot use your Social Security number for business purposes. You need a separate EIN for your business.

• Is there a fee to obtain an EIN or an IRS Letter 147c?
  • There is no fee to obtain an EIN or an IRS Letter 147c.

• What should I do if my EIN is compromised?
  • If you believe your EIN has been compromised, contact the IRS immediately to report the issue.

• Can I change my EIN?
  • You cannot change your EIN once it has been assigned. If you need to make changes to your business information, you can update your business record with the IRS.