Carl
Level 15

Get your taxes done using TurboTax

I'm assuming one can't file for an EIN retroactively?

You're assuming incorrectly. If the SCH C business has been in existance since 2017, go to the referenced website and get a ***FREE*** EIN now. Takes a whole10 minutes if you're a "hunt & peck" typer.

 

When you reference calling them "Employees" can they be either W-2 or 1099?

No. Only an employee can be W-2. A contractor is issued a 1099-MISC. 

 

Either way, your fines for issuing the tax documents late (either W-2 or 1099-MISC) are going to be steep. That's just on the federal taxes. So if your state taxes personal income you can double those fines and penalties. It will make the cost of professional help on this seem like a pittance.  Please seek professional help on this because a local CPA/Tax Professional may be able to reduce the fines, penalties and late fees that you *WILL* be assessed and *WILL* pay, enough to make it worth the comparable pittance you will pay that professional.

While you're at it, might as well have the pro do your 2018 taxes too since you'll be assessed fines, penalties and late fees for issuing those same documents late for the 2018 tax year.