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Obtain a Federal Tax ID Number from the IRS
Congress enacted the DCIA to improve collection of delinquent government debts. As a result of the DCIA, the FCC and other executive agencies collect the SSN from each individual or organization doing business with a federal agency, including applicants for, or recipients of, a federal license or permit. In the unlikely event your entity does not have a SSN, you will be permitted to indicate the reason it does not.
When registering as in individual, the Social Security Number is confidential and cannot be viewed by the public. As a result of the DCIA, the FCC and other executive agencies collect the EIN from each individual or organization doing business with a federal agency, including applicants for, or recipients of, a federal license or permit.
It is unlikely that your organization or agency has no EIN. All employers, including state and local government agencies and non-profit organizations, have an EIN.
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EIN / Tax ID Number | How to Apply for a Federal EIN
Everything that you need to know to start your own business. From business ideas to researching the competition. Practical and real-world advice on how to run your business — from managing employees to keeping the books.
Our best expert advice on how to grow your business — from attracting new customers to keeping existing customers happy and having the capital to do it. Entrepreneurs and industry leaders share their best advice on how to take your company to the next level. One of the most important responsibilities as a new business owner is preparing your business for tax season. Each of these is a nine-digit number that identifies a business for tax purposes and are used interchangeably. Simply put, a FEIN is used to identify a business entity.
What is a Federal ID Number (FEIN)?
Not every business is required to obtain a FEIN, though the vast majority do need one. However, there are many benefits of having a FEIN , even if you are not required to get one.
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For example, if you want to separate your personal and business finances, banks will often ask for a FEIN to apply for loans, issue credit cards or to even open a business bank account. You will also need a FEIN if you ever wish to bid on a government contract. Additionally, getting a FEIN can help protect your identity by withholding your Social Security number from additional tax documents.
Keep in mind, however, that you also need to keep your FEIN secure, as corporate identity thieves can use this number to target your business and do serious damage. If your principal business is located in the United States or a U. You may apply for one FEIN per day. Getting your FEIN may be a mundane task, but it is a very quick and straightforward process. Most business owners would not consider it worth the cost of paying a service to do it for them.
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