True or false: Owner-operators can use their social security number if they don’t have an employer identification number.
As an owner-operator, you are required to have an employer identification number (EIN), even if you don’t have employees, since that’s what the IRS uses to identify your business. You’ll need this EIN or tax identification number for trucking licenses, permits, tax returns and any other forms or applications that require you to file under your trucking business. You’ll also need an EIN to open a bank account for your carrier business.
How do I apply for an EIN?
If you are transitioning from a company driver to an owner-operator, applying for an EIN number is a relatively simple process. It will take you less than 10 minutes to request your EIN number over the phone with TSNAmerica, a sister product of ExpressTruckTax.
Once you apply, please keep in mind it will take approximately two weeks for your EIN to be active in the IRS database.
If you’re just getting started in trucking and need an EIN, contact us and we’ll help you out.
Your EIN is a unique code that never expires. However, you may need a new EIN if you declare bankruptcy, take on new partners, or if you purchase or inherit another existing business.
Your business name and address will also need to match what the IRS has on file, or your tax returns might be rejected when you submit them. You can see if your information matches what the IRS has on file by contacting the IRS directly at 800-829-4933.
File your IRS Form 2290 online today through ExpressTruckTax
This is a guest post by Ariel Black of ExpressTruckTax the leading e-file 2290 solution for the trucking industry.