Many people who are starting new businesses can be intimidated by or become overwhelmed with the extensive amount of questions, paperwork filings, and legal jargon. Add up the research, phone calls, paperwork, follow up, and the possibility of errors it can become a little daunting. The good news is you can now complete most of this process from the comfort of your own home with little more than an internet connection and some free tax tools online. If you get a reference 101 error, don’t worry. This is a very common error that comes up when you are applying for federal tax ID number.
Reference 101 Error
This error code is a general one when applying for EIN number with IRS. Do not be alarmed as this does not mean your application has been denied or that you are missing any pertinent information. It really doesn’t say much about your application at all. This simply means that it will take additional steps to get your application processed and get your tax ID number from the IRS. This could add additional 7 to 10 business days on top of the two weeks for your application to be processed by the IRS, and for you to receive your EIN.
What Does This Error Code Represent?
This reference code, also seen as error code 101, is created by the IRS. It is an indicator that there is an issue with your application. The issue could be no fault of your own. For example, because the IRS services companies from all over the United States your company’s name may closely resemble another company and therefore must go through further review. This is typical protocol in these instances, but it does delay the approval of your application.
IRS-EIN-TAX-ID.com has processes set in place to ensure that your EIN application process runs smoothly. If you do run into any questions or have any concerns, they will be able to assist you along the way.