I have a new business name and tin for my sole proprietorship, where do I enter this information?

[espearce]

I have a new name for my existing sole proprietorship business and a new tax id number for it. Where do I enter this information?

[Carl]

First, terminology matters here. A TIN (Taxpayer Identification Number) sometimes referred to as an ITIN (Individual Taxpayer Identification Number) is for a person that does not have a social security number for whatever reason. Such a number will always begin with the digit "9" and is used in any spot that specifically and explicitly asks for a social security number.

EIN (Employer Identification Number) is used by a business such as yours, and will be entered on the SCH C in the business income and expenses section, when you get to the screen that asks if you have one. The first digit of an EIN will NOT be a 9.

[wikaworld]

Filed 2020 Taxes and accepted BUT looking through my taxes noticed I didn't put in my EIN on Schedule C for my company.

What do I do to rectify this? Amend? Form?

Thanks for your time. 

[CatinaT1]

This is ok.  A schedule c does not need to have an EIN.  It will be processed without it.  You and your business are one in the same.

[wikaworld]

OK, what about a TIN?

[CatinaT1]

That's a Tax Identification Number, like your Social Security Number.

[wikaworld]

That’s correct, But I did not put in my TIN for my company on my schedule C. What do I do if anything? 

[AnnetteB6]

You should probably amend your return only for a couple of situations. 

If you have employees or contractors that you paid and issued either W-2s or Form 1099-NEC using your company TIN, then you should amend to include the TIN on your return.  Or, if you entered income from Form 1099-NEC that was issued to your business using the business TIN, then you should amend to include the TIN.  

Even in the situations above, the IRS may process your return without any issues or without an amended return.  

Otherwise, just remember to enter the TIN when you work on your return next tax season.  

@wikaworld