A Federal Employer Identification Number (FEIN) is a unique number assigned by the Internal Revenue Service (IRS) to businesses and other entities. It is used to identify the business for tax purposes and is required for businesses that have employees or that file certain types of tax returns. To apply for a FEIN, you can use the IRS website or you can complete and mail Form SS-4. If you apply online, you will receive your FEIN immediately, while if you mail in the form, it may take several weeks to receive your FEIN.
There are several benefits to having a FEIN. First, it allows you to open a business bank account. Second, it allows you to hire employees and pay them wages. Third, it allows you to file certain types of tax returns, such as the Form 1040, U.S. Individual Income Tax Return. Finally, it allows you to apply for certain types of licenses and permits.
