If you plan on opening a small business, you will need to obtain an employer identification number (IRS EIN), also known as a federal tax identification number. This set of nine unique numbers is how the Internal Revenue Service (IRS) identifies your company as an operating entity within the United States, and it enables you to conduct activity that would otherwise need a social security number.
Who Needs an EIN?
If you are looking into obtaining an employer identification number, consider whether the following statements apply to you:
When Will I Receive My Employer Identification Number in the Mail From the IRS?
While you will receive a follow-up email after applying for an EIN form online the same day as applying, it can take up to a month for the Internal Revenue Service to mail you your completed IRS tax ID application.
While some banks require this official document to conduct services, most will allow you to use your tax ID number for most of your company’s needs with just the number code itself.
Apply for Your EIN Easily Online