An Employer Identification Number (EIN), also known as a federal tax ID number, is issued by the IRS to identify businesses for tax purposes. It serves a similar function as a Social Security Number (SSN), but it’s specifically for businesses.
When Do You Need an EIN?
You’ll generally need an EIN in the following situations:
•Hiring employees
•Opening a business bank account
•Changing your business structure
While single proprietors can often use their SSN for government forms and other official documents, many experts recommend obtaining an EIN for added security and privacy.
Additionally, most banks require an EIN to open a business account. If you’re ready to apply for an EIN, our team of documentation experts can guide you through the process.
Contact us today to get started!
SEE OUR ARTICLE ABOUT :
