Why Do I Need An EIN#? What Is Its Purpose? What Happens After I Get One?

In this video, I go over the purpose for the EIN# in the private domain, what form to fill out (SS4) and the boxes to check.

**For my paid clients I give a referral that takes care of this for you. It's totally worth it. ; ) **

In your association/ministry, the EIN# is for banking purposes only.

When you receive the EIN#, you'll get a letter from the IRS with the #. it also contains "scary" language that makes us all think we need to fill out a form 1023, which we do not because a filing exception does belong to us as unincorporated Faith-Based Organizations.

Furthermore, under the U.S. federal tax code 26 U.S.C. Section 508(c)(1)(a), "churches, their integrated auxiliaries, and conventions or associations of churches," fall under a "mandatory exception" to the filing requirements that charitable organizations must follow to receive tax-exempt recognition by the IRS and are therefore not required to file form 1023.

The mandatory exception of section 508 is recognized and confirmed in the instructions for Form 1023 as well as supported by IRS Publication 557. This publication is quite enlightening, go to page 24 to read the exception reference. https://www.irs.gov/pub/irs-pdf/p557.pdf

I also cover a snippet about donors to your organization.

Book a free call now if you are ready to get started or have questions
https://calendly.com/drlayne/new-client-application-call

David Edwards - the PMA OG - www.getyourpma.com

My fellow PMA advisor Aaron Bowman has a badass YouTube Channel - Rebel Alliance, Check him out here
https://www.youtube.com/channel/UCrSq3NYegawhTUlS7HC3sWQ

Fellow PMA Advisor Guy Stinson and David created a short course for those of you who want to learn more - it’s fantastic!
A Guide to Starting Your Own PMA - https://courses.thenextsky.net/courses/my-pma?ref=a2c93c

Get your money backed by silver and work with another PMA at Liberty Dollar
https://ldrep.nl/dclaynel

You Tube
https://www.youtube.com/channel/UCEl3OzqXJpOSDRmxM4cLqMw

In health and freedom,
Dr. Layne

Disclaimer: I am not a CPA, tax advisor, attorney, or bookkeeper, nor do I hold any degrees that I am not completely transparent about. By watching these videos and using the information, you are agreeing to take full responsibility for your own experience and results.

The information in these videos and on this channel are intended for members of Layne Linebaugh, DC, PHA, or those agreeing to the bylaws of the association.