An Employer Identification Quantity (EIN) is a novel nine-digit quantity assigned by the Inner Income Service (IRS) to enterprise entities working in the USA. It serves as a tax identification quantity for companies, just like a Social Safety quantity for people.
Acquiring an EIN is essential for varied enterprise operations, comparable to opening a enterprise checking account, submitting taxes, and hiring workers. Traditionally, companies needed to apply for an EIN in particular person or by mail, however the IRS now permits on-line purposes via its web site.
