What is an EIN Number? A fundamental component of a business or corporate entity’s identity, an Employer Identification Number (EIN) is a unique nine-digit number assigned by the Internal Revenue Service (IRS). For example, a business named “ABC Company, LLC” might have an EIN of 12-3456789.
EINs play a crucial role in tax reporting, financial transactions, and legal matters. They enable the IRS to identify and track businesses, simplify tax compliance, and prevent fraud. Originally introduced in 1962, EINs have significantly streamlined business operations and tax administration.
