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What is an EIN number and why does my business need one?

EIN & IRS records

An EIN is a nine-digit federal tax ID the IRS assigns to a business. It identifies your company on tax returns the way an SSN identifies a person.

You need one to open a US business bank account, run payroll, issue 1099s, and file a corporate return. Most banks will not open an account without it. Here is how to get an EIN and what the IRS asks for.

Inkle Tax prepares and files US federal and state returns for your company.

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