The EIN Number also called Tax ID is an employer identification number required for businesses. For those who find it daunting to apply for Tax ID through the IRS website has the option of online resources that provides unique features and services. It can take time to locate the Tax ID application from the IRS website but Zoom Filings is prepared to assist to get the job done faster and more efficiently.
The commercial real estate sector has emerged unscathed from the Republican tax rewrite. For months, the industry of commercial real estate development has been seriously concerned with the tax plan that is in the works. There are fears that the tax plan may make it more difficult or expensive to take out huge bank loans. There is also the possibility for the tax plan to damage demand in the property market.
However, if the tax plan that was unveiled this week by the House Republicans was to be the basis, the industry has little to worry about. According to Thomas Bisacquino, president of NAIOP, a commercial real estate development group, the industry was left as a whole and the old provisions will still work.
Real estate developers were rather fearful of the special tax treatment of “carried interest” fees that are taxed as capital gains instead of income. If there will be an amendment the developers may no longer be able to deduct any interest expenses from their taxable profits. There were also certain concerns that exchanges of commercial property that currently enjoys tax deferral could face immediate taxation.
Developers are thankful because the bill did not include changes to the industry. Taxes have a big effect on the industry. In 1991, a tax overhaul was responsible for sinking prices of commercial real estate. It also ushered in an economic downturn.
Even real estate developers are required to obtain Tax ID before they can proceed with business activities. For a more simplified and efficient process, a better option is Zoom Filings that provides an easy one-page form which will allow a business to apply for Tax ID within a few minutes without any hassle.