Starting an accounting business in Illinois in 2026 requires careful planning, including obtaining an Employer Identification Number (EIN) from the IRS. This guide provides a step-by-step approach to securing an EIN for your CPA firm, bookkeeping service, or tax preparation business. You can learn more about LLC registration in Illinois to understand the full picture. Lovie's AI-powered formation platform can streamline this process, ensuring accuracy and compliance.
An EIN, or Employer Identification Number, is a unique nine-digit number assigned by the IRS to business entities operating in the United States. It's essentially a Social Security number for your business, used to identify your company for tax purposes. We cover this in depth in our resource on [starting a business in Illinois](https://www.lovie.co/formation/resources/llc-formation/agency-illinois). Whether you're forming a Professional Limited Liability Company (PLLC), a Professional Corporation (PC), or another entity type for your accounting practice, an EIN is generally required.
| State Filing Fee | $150 |
| Annual Fee | $75 |
| First Year Total | $225 |
| Processing Time | 6.2 days avg (official: 5-10 days) |
| Corporate Tax Rate | 9.5% |
Recommended Entity: LLC or C-Corp
Key Tax Benefit: Professional development, licensing fees
Compliance Priority: SEC/FINRA registration, state money transmitter licenses
Data sources: State Secretary of State offices, IRS, Tax Foundation (2026). Platform metrics based on anonymized Lovie user data.
Employer Identification Number (EIN) serves as the federal tax identifier required for business banking, hiring, and tax filing. Key components include IRS Form SS-4, federal tax identification, and responsible party designation, each playing a critical role in the ein process. Understanding federal tax ID number and business banking requirement is essential, as these factors directly impact payroll tax compliance.
When evaluating ein options, factors such as ITIN alternative for non-residents and same-day EIN approval should inform your decision-making process.
Understanding S Corp Cost is essential for business compliance and operational success. The specific requirements vary by state and industry.
This aspect of business formation directly impacts your legal standing, tax obligations, and operational flexibility.
Start your formation with Lovie — $29 one-time, plus your state's filing fee.
State-specific formation guides, cost breakdowns, compliance checklists, and expert comparisons — updated for 2026.