What is Federal Tax ID EIN?
It is simply an Employer Identification Number (EIN) or, “Federal Tax ID Number”) that IRS assigns.This Number can be used to open a bank account and it becomes the id number for the business as a social security identifies an individual.The number is used by the federal government (IRS) to regulated business tax returns. The number is used by many inividuals or entities such as employers, sole proprietors, corporations, partnerships, nonprofit associations, trusts, estates of decedents, government agencies, and other businesses. An EIN is for business only, and should not be used in lieu of a Social Security Number (SSN).
