How does one apply for an Federal EIN?

Start here:

If it's a single member LLC you don't technically need an EIN, but it's a good idea to have one anyway.

Because revocable trusts are not recognized for IRS purposes - not until they become irrevocable.

The trust may technically be the owner of your business, but for tax purposes it is all you, whether you want it to be that way or not.

It may not apply for this particular form, but aren't both H&W owners of the LLC for most tax purposes?

As an aside, what happens to an H&W trust in a divorce? It may still be a grantor trust, but probably has to change filing methods....

-- Arthur Rubin, CRTP, AFSP, Brea, CA

If the trust is drafted as a single trust for both husband and wife, normally yes.

And a husband and wife who are the only owners of an unincorporated business can elect to be taxed as a partnership, or to file separate Schedules C.

While the spouses are alive the trust doesn't file returns anyway. Generally in my experience the trust is closed, with each spouse setting up a separate trust if he/she wants to.

When I first got started in the business, most couples actually created separate trust documents. Now they generally do one that covers both spouses.

As I understand it, an H&W trust can use optional filing method 1 (assets with the ID number of one person) or 2 (assets in the ID of the trust, but issues nominee 1099s and statements). A grantor trust with more than one person may use optional method 3 (basically the same as 2, but with more elaborate statements.)

This is based on the 1041 instructions, rather than the code and regulations....