Beware of Scam Targeting New Businesses

Over the last few weeks, I have worked with several new business owners who have fallen victim to companies who are charging them to obtain their Employer Identification Number (EIN) from the IRS. These business owners have paid as much as $130 to companies online to apply for the EIN and, ultimately, the business owners never receive their EIN. Not only are those business owners losing the money they paid for the EIN, the business owners are also providing those companies with their personal information (including their social security number). The IRS does not charge a fee to obtain an EIN. As such, business owners can either apply for their EIN themselves or pay a reputable accountant or attorney a small fee to apply for the EIN on their behalf.