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Small Business News & Notes

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In Washington, the drive to collect Internet sales taxes is heating up, as a bill that would raise the cost of shopping online nears a showdown in the House.

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The IRS May Be Contacting You About Your Employer Identification Number

Remember when you first started your business? Unless you intended to operate as a sole proprietorship or single member LLC with no employees, one of your first interactions with the IRS was to apply for your employer identification number (EIN). After you submitted the application (Form SS-4), the IRS assigned you a nine-digit number. You shared the number with a bank to open your business account, and you've been using it on your income and payroll tax returns ever since.

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