Skip to main content

10 Best Online Brokers for Stock Trading of March 2023

11 online brokers stood out as the best for stock trading due to their low fees, strong trading platforms and quality customer support. Best Online Brokers for Stock Trading Broker Rating Fees Account minimum Promotion Learn more Fidelity 5.0 /5 $0 per trade for online U.S. stocks and ETFs $0 Get $100 when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply. LEARN MORE on Fidelity's website E*TRADE 5.0 /5 $0 per trade $0 Get up to $600 or more when you open and fund an E*TRADE account LEARN MORE on E*TRADE's website Merrill Edge 4.7 /5 $0 per trade $0 Up to $600 when you invest in a new Merrill Edge® Self-Directed account. LEARN MORE on Merrill Edge's website Interactive Brokers IBKR Lite 5.0 /5 $0 per trade $0 Up to $1000 no promotion available at this time LEARN MORE on Interactive Brokers' website J.P. Morgan Self-Directed Investing 4.7 /5 $0 per trade $0 Get up to $700 when you open and fund a J.P. Morgan...

Getting 147C Online (EIN Designation Confirmation Letter)

 It may happen that you misplaced or lost your Employer Identification Number (EIN).

Without an official letter from IRS with the company’s name, address, and EIN, it is usually impossible to open a bank account, verify Payoneer or Paypal business profiles, etc.

The good news is that you can get a same-day online 147C replacement if you don’t mind hanging on the phone for 30 minutes. Here is how:

  1. Get yourself a virtual fax, write down your fax number;
  2. Get your company documents ready (for verification of your relationship to the company);
  3. Call IRS at 800–829–4933;
  4. Request a new verification letter to be faxed to your virtual fax.
  5. Download the pdf.

Detailed description of the steps below…

Get your fax ready

Oh, you don’t have one? Don’t worry, everyone stopped using fax 20 years ago (except IRS, obviously). To work this around, we will use a virtual fax service. I recommend faxburner.com since it doesn’t require installing malicious chrome plugins as others do.

Disclaimer: fax is not a secure way to trasfer data. A third party, such as virtual fax service provider, may potentially access your tax information.

Get the company information ready

The IRS agent will want you to prove your relationship to the company by asking questions such as your position at the company, incorporation date, state, number of employees, current address, phone number, EIN number, etc.

Call IRS at 800–829–4933

I use Google Hangouts or Google Voice to call from outside of the US for free.

Once in the main menu, press #1 for EIN information, and then for #3 to get the EIN confirmation. You might have to wait up to one hour to be connected to a representative. Once connected, ask the person to fax you a copy of the verification letter.

Voila! It should show up in your virtual fax inbox instantly. If it doesn’t, give it a few minutes, the IRS operator would not mind holding the line.

Example of IRS replacement received through virtual fax.

Popular posts from this blog

Best Places to Open a Business Checking Account Online

Opening a business checking account online can be faster and simpler than visiting your local branch and submitting an application—plus, you can do it on your schedule. Here, we’ll break down some of the best places that allow you to open a business checking account online, so you can find the right solution for your business. Seven Best Options to Open a Business Checking Account Online Click on a bank name to jump down (or keep scrolling) and learn more about our top options for opening a business checking account online. BANK KEY FACTS 1.   LendingClub Best for: Fee-free ATM access, earning interest, digital tools. Online applications are processed in two to five business days. 2.   Brex Cash Best for: Alternative to traditional business bank account with tech-friendly features and perks. Brex generally reviews applications in five to seven business days. 3.   Novo Best for: Free, online business checking for startups and freelancers. Novo typically reviews applic...

Franchise Tax

Franchise tax is a tax levied on the state stage towards companies and partnerships that operate inside that state.  1. What Is Franchise Tax? 2. Breaking Down Franchise Tax 3. How Businesses Pay Franchise Taxes 4. Local Franchise Taxes and Fees 5. Understanding the Franchise Tax 6. Which States Have Franchise Taxes? 7. How States Define Franchise Taxes 8. Examples of Franchise Tax Computation 9. How Do You Pay Franchise Taxes in Your State? What Is Franchise Tax? Franchise tax is a tax levied at the state level on companies and partnerships that operate in that state. Only companies pay franchise taxes. What companies owe is based on their complete income minus what they pay in compensation to staff or for purchasing packaged or processed items. The distinction between income and these prices is called the margin, which is why the tax is frequently called the “margin tax." The most important Texas tax paid solely by companies, the franchise tax had been the second-larges...

10 Best Online Brokers for Stock Trading of March 2023

11 online brokers stood out as the best for stock trading due to their low fees, strong trading platforms and quality customer support. Best Online Brokers for Stock Trading Broker Rating Fees Account minimum Promotion Learn more Fidelity 5.0 /5 $0 per trade for online U.S. stocks and ETFs $0 Get $100 when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply. LEARN MORE on Fidelity's website E*TRADE 5.0 /5 $0 per trade $0 Get up to $600 or more when you open and fund an E*TRADE account LEARN MORE on E*TRADE's website Merrill Edge 4.7 /5 $0 per trade $0 Up to $600 when you invest in a new Merrill Edge® Self-Directed account. LEARN MORE on Merrill Edge's website Interactive Brokers IBKR Lite 5.0 /5 $0 per trade $0 Up to $1000 no promotion available at this time LEARN MORE on Interactive Brokers' website J.P. Morgan Self-Directed Investing 4.7 /5 $0 per trade $0 Get up to $700 when you open and fund a J.P. Morgan...