Last Updated: February 2, 2023
Handling a company comes with the burden of legal formalities. You might have become an expert in filing your company’s taxes, but there are still a few terms that may confuse you like the 147c letter. In this article, we will discuss everything from what it is, to how to get one. By the end of the article, you’ll be feeling confident and assured!
What Is a 147c Letter?
Simply put, a 147c letter is sent by a company to request their EIN, or Employment Identification Number, from the IRS. It is also commonly known as an EIN letter.
Just like how every person has a unique social security number, companies have an individual EIN used for identifying the company. In addition, authorities have to ask for an EIN before granting any permits or licenses to your company. This letter is not like a regular tax return form that you receive—it is a form that is sent by the IRS by request. Companies either send this letter so a third party can verify their EIN, or because the company cannot locate its EIN.
It is important to understand that this letter only requests an existing number and is not meant to request a new EIN.
|DID YOU KNOW? An EIN doesn’t expire! They are unique to your business and will remain exclusive to your company forever.|
When Do You Need an IRS 147c Letter?
Here are a few situations where you might need this letter:
- You lost your EIN: One of the main reasons people send this letter is because they’ve lost their EIN number. A 147c will ensure that you get your official EIN number from the IRS.
- You got a CP 575 (EIN confirmation letter): This is the actual letter issued by the IRS that provides a new company with its EIN. It also contains other information like the type of taxes the new company will be required to file.
- It’s required by a third party: Your business will obviously be in contact with other businesses. To verify individual companies, people ask for the EIN. The letter serves as proof that the EIN is correct, was issued by the IRS, and is obtained with your permission.
|A letter 147c is a document sent by a company to the IRS to request their EIN.|
|The letter is not sent to request a new EIN, but for an already existing number.|
|It may be asked for by a third party as a form of verification, or it may be requested if you’ve lost your EIN.|
|Sending the letter is not compulsory, unlike any taxes owed. It is only sent when your company needs it.|
How to Get an EIN Letter From the IRS
While taxes are complicated, getting an EIN letter isn’t. It is a very simple process, and there are multiple ways you can get in touch with the IRS to request one. Here are a few of them:
- The easiest way for an individual to request an EIN verification letter is through the IRS directly. You can contact taxation authorities at the Business and Specialty Tax Line, 1-800-829-4933. The number is operational from Monday to Friday, 7 am to 7 pm.
- You will be asked several security questions when calling them to confirm your identity. You might have to wait up to 30 minutes to talk to an IRS employee.
- If you don’t want to speak on the phone, you can also mail or fax them a letter. After confirming the application, the IRS will fax you your EIN in an official copy.
Do I Have Other Options?
If, for some reason, you don’t want to contact the IRS at all, here are a few other ways you can get your EIN.
Find your CP 575 letter
Per U.S. tax laws, you should have received this letter when you first registered your company with the IRS. It provides a new company with their EIN. If you can find this letter, you won’t have to ask the IRS for your EIN again.
Request the EIN from your bank
As a business owner, you should have provided your bank with the EIN when you first opened a bank account. If you’re on good terms with your bank, you can request your EIN through them.
Check your tax return
Although tax returns usually have a tax ID number, a TIN is different from an EIN. If you’ve lost your EIN number, try looking through your tax returns. Just like bank accounts, tax returns should have them listed.
Authorize a third party to request on your behalf
There are many agents who can help with this. If you have an LLC, LLC services also help in applying for and keeping your EIN for future reference. You can authorize any third party to request your EIN on your behalf.
|DID YOU KNOW? Even business tax software requires your EIN! However, you only need to enter it once, and you can refer to the software if you’ve lost your EIN as well.|
The IRS letter 147c is sent by individuals to request the IRS give them their EIN. It only provides an existing EIN and does not provide a new EIN. The main reason people send this letter is they’ve lost their EIN, or it is required by a third party. The easiest way to request your EIN is to call the IRS or send them a fax. You can also check your bank records, tax returns, or authorize a third party to contact the IRS on your behalf.
Your Employer Identification Number is a unique 9 digit number assigned to your business. It serves as proof of identity for the business.
Once you’ve requested the IRS for your EIN, they will mail or fax you the official document within 4-6 weeks. You can download and print the document as well.
To request a 147c letter, you can call the IRS Business and Speciality Tax line. They are open Monday to Friday, 7 am to 7 pm.