Wednesday, June 23, 2010

What information do I need to have and how do I apply for a Federal Tax ID for our condo association?

We are a self-managed building of 3 units.What information do I need to have and how do I apply for a Federal Tax ID for our condo association?
The atty who incorporated you should have one; or should get one.





Easy enough thru IRS.govWhat information do I need to have and how do I apply for a Federal Tax ID for our condo association?
Any legal entity, including a condo association, will discover that it is virtually impossible to open a bank account without providing a ';taxpayer identification number” to the depository institution. The Internal Revenue Service assigns taxpayer identification numbers (also called ';employer identification'; numbers) upon request. Obtaining taxpayer identification is done by completing IRS Form SS-4. Numbers can be assigned over the phone by calling into the Internal Revenue Service (per instructions provided in the SS-4 package). Just do an Internet search on SS-4 and you will find out the information that is required to fill out this form.





If you are looking for other things that you should be doing to set up a self-managed condo association, the site www.condopresident.com may be helpful.





Good Luck


JoeK
You can go online to apply for an EIN. Google ';FEDERAL EIN';


You do not pay to get one - they are free.

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