Tax ID number?
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Tax ID number? Brian Wilhelm asks,
We just started an investment club at
the beginnig of this month. We were curious about the tax
implications for this coming year, most notably the Tax ID number.
Is the Tax ID number something we need to apply for now, before we begin to
invest? If so, which form(s) do we need to use to do
so?
Good question Brian,
Yes, you'll need a Tax ID (EIN) for your club prior to
opening any accounts or making any investments in the name of the
club. Getting a Tax ID (EIN) is easy. To obtain an EIN you
will need Form SS-4. Simply contact the IRS or go to the IRS web
site at http://www.irs.ustreas.gov/forms_pubs/forms.html to obtain Form SS-4. Complete instructions are available
on the Form SS-4.
Jerry
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