FEIN Meaning and
Definition
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FEIN is an acronym for the term Federal Employer Identification Number. It is a unique nine-digit identification number assigned to businesses and organizations by the Internal Revenue Service (IRS) in the United States. The purpose of the FEIN is to identify these entities for taxation and employment purposes.
The FEIN functions as a social security number for businesses and nonprofit organizations, ensuring accurate tracking of tax obligations. It is used for reporting employment taxes, filing annual tax returns, opening business bank accounts, applying for business licenses, and in any other interactions with the IRS related to tax matters.
To obtain a FEIN, businesses and organizations must complete an application with the IRS. The application typically requires information such as the legal name of the entity, the type of business structure, the reason for applying, and the responsible party's personal details. Upon approval, the IRS issues a unique identifier, which is then used by the entity throughout its existence.
The FEIN is crucial for maintaining proper tax compliance, as it helps the IRS monitor businesses and organizations for tax-related activities. It also assists in ensuring fair taxation by accurately classifying entities and tracking their financial transactions.
Common Misspellings for FEIN
- feijn
- fekin
- feikn
- feoin
- fe9in
- fei9n
- fe8in
- fei8n
- feinb
- feimn
- feinj
- feinh
- ffein
- feiin
- feinn
- f ein
- fe in
- fei n
Similar spelling words for FEIN
- feint,
- fin,
- Fenn,
- fen,
- feign,
- FEMA,
- fern,
- feeney,
- rein,
- feehan,
- vein.
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