What is an Employer Identification Number (EIN)? EIN meaning and definition
An employer identification number (EIN) is the unique nine-digit federal tax ID the Internal Revenue Service gives each employer — kind of like a social security number for a business. It’s typically in the format of 00-1234567, and the IRS uses it to track employment tax history, tax filings, and payments.
What is an EIN used for?
Sometimes referred to as an FEIN (Federal Employee Identification Number), an employer identification number is used on all of an employers’ tax filings. An EIN is the way the IRS identifies your business and verifies your activities with federal and state governments, banks, lending offices, and payroll services. Some states issue their own employer identification number as well, but many use the same EIN issued by the IRS.
