A federal employer identification number (FEIN), also known as a tax identification number, is issued to entities that do business in the United States. The FEIN is a unique nine-digit corporate ID number that works the same way a Social Security number does for individuals. A FEIN is required for businesses to get a business license.
Read on to learn what a FEIN is and how to get one.
What is the purpose of a FEIN?
A FEIN is a way for the IRS and other government entities to identify and track business entities’ tax and financial activities. It’s required to file tax returns, as well as to set up retirement accounts and health accounts to offer medical and dental benefits to employees, among other uses.
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