Employer Identification Number (EIN)

An Employer Identification Number (EIN) is a unique nine-digit number assigned by the IRS to businesses for identification purposes. It functions like a Social Security number but is used for business entities. The EIN is required for various functions, such as filing taxes, opening a business bank account, and hiring employees. Whether you're a sole proprietor or running a corporation, obtaining an EIN helps ensure compliance with tax regulations and facilitates business transactions. You can apply for an EIN online through the IRS website, and it’s an essential step for any business operation in the U.S.