EIN
An Employer Identification Number (EIN) is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to businesses for tax purposes. It is used to identify a business and its tax accounts, and is similar to an individual’s Social Security number.
If you are starting a new business or are responsible for the finances of an existing business, you may need to get an EIN. You will need an EIN if you:
- Have employees
- Operate as a corporation or partnership
- File tax returns for employment, excise, or alcohol, tobacco, and firearms
- Withhold taxes on income, other than wages, paid to a non-resident alien
- Have a Keogh plan
To get an EIN, you can apply online through the IRS website, by phone, or by fax or mail. You will need to provide some basic information about your business, such as your business name and type, your mailing address, and the name and Social Security number of a principal owner or officer.
It’s important to note that you will need an EIN even if you do not have any employees. You can apply for an EIN online or by phone for free, and you will typically receive your EIN within a few business days. You can use your EIN to open business bank accounts, apply for business licenses and permits, and file business tax returns.