EIN (Employer Identification Number)
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If you plan to start a new business, one of your first steps should be to obtain an Employer Identification Number (EIN). The EIN acts like a Social Security Number for businesses. You’ll have to use your EIN for all of the items that you send to the IRS and the Social Security Administration (SSA). Additionally, most banks require an EIN in order for you to set up a business bank account.

Now that you have a better idea about how EINs work, the quickest way to obtain your new business’s EIN is to apply online at IRS’s website: www.irs.gov. Make sure you have all your business’s information readily available to fill out the online form. You’ll receive a new EIN instantaneously upon completing the application, and the process is free.