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I wanted to buy items from legitimate wholesalers and drop shippers, however, I needed a sales tax ID to be able to buy from them. I thought that in order to get my sales tax ID, I would need an EIN (employer identification number). So I got the EIN from the IRS. Then I got my IBT (Illinois Business Tax number or sales tax ID). Then I contacted someone from the Illinois Revenue and I found out that I do not need an EIN. You see, all I want to do is buy items from wholesalers or drop shippers and then sell those items on eBay. That is it. I will never have employees so I will never need an EIN. I am no corporation or anything; just a regular guy. I fear that having an EIN may make my tax paying unnecessarily more difficult so this brings me to my question: How do I erase my EIN? I know I should call the IRS...but my phone just broke. Therefore, I am basically asking how I can get rid of this thing online. Thank you all.

I looked here: http://www.irs.gov/businesses/small/article/0,,id=98350,00.html

but no luck

2007-06-29 05:22:24 · 3 answers · asked by James 1 in Business & Finance Taxes United States

3 answers

An EIN basically links your social security number to an ID number for your business. Your tax paying will not get more difficult it will remain the same. Its actually a great thing to have because you will be able to use that number in conjuction with your business and never have to use your social security number that others may see. Plus if you are ever in need of employees you are set to go.

2007-06-29 08:45:46 · answer #1 · answered by T D 2 · 0 0

Frankly, if you ever need a tax ID in conjunction with your business you'll be much safer using an EIN than your SSN. I'd hang onto it myself.

2007-06-29 08:29:16 · answer #2 · answered by Bostonian In MO 7 · 0 0

NEVER USE YOUR EIN.

NEVER USE YOUR SSN.

2007-06-29 05:36:18 · answer #3 · answered by rhett_madison 3 · 0 2

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