Why pay social security taxes?
Social Security benefits are based upon the worker’s earnings as reported to the social Security Administration. The worker’s earnings are also used to determine insured status for entitlement to retirement, survivors, and disability insurance benefits. Accordingly, it is important that these earnings are reported promptly and accurately. Employer Identification Numbers (EIN) The Social Security Administration issues an EIN upon receipt and processing of a completed application for an Employer Identification Number. The applicant must submit a copy of business license and evidence of the ownership, inception date of business, form of business and nature of business and others upon applying for an EIN. All employers in the FSM must get an employer identification number and must indicate this number on the employer’s tax return. Applicants with more than one business must have one EIN for each business. The EIN must be entered on the Employer’s Quarterly Tax Return. If you change the nam
