Many new business owners get scared off when it comes to filing for an employer identification number. Paperwork, phone calls, and errors can make the process take longer than usual. But thanks to IRS-EIN’s easy business tax ID application process, you can register for your EIN in the comfort of your own home.
During the process, you may come across a reference 101 error. But don’t fear – we are here to explain this error, what it means, and how it can be resolved.
What Is a Reference 101 Error?
You may be asking yourself, what is a reference 101 error? Also called an error code 101 in your employer identification number application to the Internal Revenue Service, the reference 101 code simply means that there is some conflict with your application. One of the reasons that this could happen is that your company’s name closely resembles another entity name. Since the IRS deals with companies all over the country, this issue could present a problem if your business’ name resembles another name too closely.
How IRS-EIN Can Help
We will take all of the steps required to ensure that your employer identification number application runs smoothly. It may take up to seven to 10 business days for the IRS to process your federal tax identification number, but we will be with you during every step of the process to provide support and security.
Easily apply for an EIN online today via our safe and secure website feature. If you have any questions or concerns, you can also visit the FAQ section of our page to learn more.
When you are trying to get your business started, there are a lot of hiccups that can prevent you from getting on stable financial ground. Make sure you know how to properly fill out your EIN application, and how to avoid the EIN error 101. This will ensure you avoid the pitfalls that come with business ownership.
How to Simplify Your EIN Application
Whether your business has 1 or 100 employees, you will need to apply for an EIN. The EIN application can easily be completed online or through the mail. If you have successfully completed your EIN, you will receive your new tax ID number within 24 hours.
An EIN is needed for tax tracking purposes and can be used for legal entities, such as corporations, partnerships, and estates. Make sure to apply for your EIN after your organization is legally formed. Nearly all organizations are required to file a return or notice for three consecutive years.
What Happens When You Receive a Reference 101 Error?
When you see the Reference 101 EIN error that means there was a problem with your application. There are a variety of reasons that you could be seeing this error. One of the most common errors you will see on an EIN application is when the name of your company closely resembles another one.
The IRS deals with companies all over the country, so there is a chance that you could have this problem. The IRS will be able to help you if there is a problem with your application, including the 101 error. You can easily apply for your EIN on the safe and secure website www.irs-ein-tax-id.com.
To avoid an error 101, review your EIN application thoroughly. This will allow you to achieve your dreams of business ownership.