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What is an FEIN?

April 26, 2017FEIN

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What is an FEIN?

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A Federal Employer Identification Number is a nine digit code used by businesses in order to classify and identify them as a tax payer, for banking services and other official and legal purposes. Businesses with no employees and sole proprietorship may use the Social Security number for tax reporting. But companies with employees must have a FEIN. It is unique to a business just like Social Security number is unique to an individual.