So What is 147C?? Still getting confused right?
The IRS Form 147C or EIN Letter is one of the most important documents that a business owner can have.
This document proves that the business owner has an Employer Identification Number, which is required for many business transactions.
Without this document, a business owner may not be able to open a bank account, get a loan, or even hire employees.
In this post, we will have a clear discussion on the 147C letter, which is also known as an EIN letter and will also see How to Request an EIN Verification Letter From IRS.
What is 147C?
The 147c Letter is a document that is sent to businesses by the IRS. The letter requests information about the business’s EIN or Employer Identification Number. The 147c Letter is used to verify that the business has a valid EIN and that the business is in good standing with the IRS. The letter also requests information about the business’s payroll and tax obligations.
If you receive a 147c Letter from the IRS, it is important to respond as soon as possible. Failure to respond to the letter can result in penalties and interest being assessed on your taxes. If you have any questions about the 147c Letter, or if you need help responding to it, please contact a tax professional for assistance.
What Is An EIN And Why Apply For It?
An EIN is an Employer Identification Number. It is a unique nine-digit number assigned by the IRS. An EIN is used to identify a business entity.
Applying for an EIN is a free service offered by the IRS. You can apply for an EIN online, by fax, or by mail.
The process of applying for an EIN is simple and easy. All you need to do is complete and submit the application form, which can be found on the IRS website.
Once you have applied for and received your EIN, you will use it to identify your business on all official documents and correspondence with the IRS.
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How To Request An EIN Verification Letter (147C) From IRS?
If you need to verify the Employer Identification Number (EIN) assigned to your business by the Internal Revenue Service (IRS), you can request a verification letter (147C). The IRS will only issue this letter to the business owner or an authorized representative. Here’s what you need to do to request an EIN verification letter:
1) Call the IRS at 1-800-829-4933 (you have to call, it’s the only way)
• Select your language preference
• Select the option for “Employer Identification Number”
• Select the option for “If you already have an EIN, but you can’t remember it”
2) Tell the IRS agent that you have an LLC and need an EIN Verification Letter (147C)
3) The agent will ask a few security questions to verify your ownership of the LLC It’s good to have your LLC documents handy for this!
4) The IRS agent can mail or fax you the 147C Letter, CHOOSE FAX! -> This way they can fax it to you right away (you can set up a free fax # at https://hellofax.com) If you choose mail -> it will take 4+ weeks to arrive.
How Can I get a copy of my EIN Confirmation Letter Online?
However, we have a hack for you to handle the process nearly all online, here is how:
- Get yourself a virtual fax number
- Call the IRS
- Ask for your 147C letter
- When they ask how you want to receive it, tell them by virtual fax
- The IRS agent will put you on hold and fax you the 147C letter
- You’ll digitally receive the fax while you are literally on the phone with the agent
- Download your document!
What if you don’t have an SS-4 notice?
If you don’t have an SS-4 notice, you may be wondering what to do. The first step is to contact the IRS and request a copy of the notice. Be sure to have your social security number and date of birth handy when you call. Once you have the SS-4 notice, you will need to complete and return it to the IRS.
If you are unsure of how to complete the form, there are instructions available on the IRS website. Be sure to include all required information and sign the form before mailing it back to the IRS.
Once the IRS has received your completed SS-4 notice, they will process your request and issue you a social security number. It is important to keep this number safe as it will be used for all future transactions with the IRS.
What are the Alternatives to Requesting a 147c Letter?
There are a few alternatives to requesting a 147c letter. One option is to file a petition with the Tax Court. Another option is to file an offer in compromise. The last option is to request an abatement of penalties and interest.
Filing a petition with the Tax Court is one alternative to requesting a 147c letter. This option allows you to have your case heard by a judge. You will need to submit evidence and arguments to support your position.
Another alternative to requesting a 147c letter is filing an offer in compromise. With this option, you negotiate with the IRS to settle your tax debt for less than what you owe. You will need to submit financial information and supporting documentation.
The last alternative is requesting an abatement of penalties and interest.
Congratulations! You have successfully requested a 147C, EIN Verification Letter for your LLC. We recommend making a few copies and keeping them with your business records.
Hope you liked this post on 147C. If you have any questions, you can leave them in the comment section below. I will be happy to respond.