Obtaining an Employer Identification Number (EIN) is crucial for businesses in the United States. It’s a unique nine-digit number issued by the Internal Revenue Service (IRS) that identifies an organization for tax purposes.
Applying for an EIN is essential for businesses to open bank accounts, file taxes, hire employees, and comply with tax regulations. Historically, businesses submitted paper forms to apply for EINs, but the IRS now offers an online application process.