New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.

Answers

Business federal tax number

Asked by: Aaron Freitas  — 30 July, 2012

Is the federal tax id your EIN number?

Answered by: admin  — 30 July, 2012

Aaron,

EIN stands for “Employer Identification Number”, and is often called FEIN (“F” for “Federal”). IRS uses this number as the tax ID for companies.

However, in some cases your company’s tax ID would be your Social Security Number, for example for sole proprietorships or single-member LLCs with no employees.

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