Starting a new business requires a lot beyond just providing the service or creating the product. There will be a lot of important paperwork and documentation that will need to be filled out to legitimize your business One of the first things you have to do is determine the structure of your business and submit an application for your company’s EIN number. You have the ability, and the right, to check EIN number status. What happens when you get a reference 101 error? First, take a breath. It is ok. However, there are some things that need to be reviewed with your application.
Reference 101
A reference 101 error is an error code message you can get when you are doing your EIN lookup. This means that there is some type of error in your tax ID application. This is a code created by the Internal Revenue Service and flags that there is a problem with your application. It is a very board error code that could mean that there is a small issue like you left a letter out of your name or a number out of your social security number, or something more problematic like the name of your company is too much like another company that is already in existence.
Filing Service
Using a tax filing service can better ensure that your IRS-EIN-Tax-ID application gets approved without a reference 101 error. There is a system that catches any errors on your application before it is actually sent off to the IRS. With any government agency it takes time to make the correction, so a simple mistake could set the plans for your business back months. However, using the right service can help to elevate those potential errors and delays.
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