An Employer Identification Number (EIN) is a special number that only your company can have, akin to a Social Security number for individuals, used for tax-related purposes to identify your company to the Internal Revenue Service (IRS). It's necessary to include your EIN on all tax documents. Obtaining an EIN is essential for setting up business bank accounts and may be required for various business licenses or permits, making it important to acquire shortly after your business is established or becomes a limited liability company (LLC).
Suppose you're looking to obtain an EIN quickly and effortlessly. In that case, there are services available that can manage the application process with the IRS on your behalf, simplifying one of the initial steps in starting your new venture.
The IRS mandates an EIN for several business structures, including:
There is no distinction between an EIN and a Federal Tax Identification Number. They are simply two names for the same identifier.
