What is an EIN Number Used for?
Frequently Asked Questions | FAQs
An EIN Number is primarily used to identify your business as a legal entity that is recognized by the IRS. You need to establish an Employer Identification number for your business for tax reporting purposes. When you hire employees, your payroll department or contracted accountant needs to ensure that the EIN is listed on each employee’s W-2 form. You can also use an EIN when you want to apply for business-related credit cards. Instead of using your own personal credit history for your business, you provide the bank with your Employer Identification number. The bank will issue you one or more credit cards in the name of your business. Establishing an EIN is the first step in building up an excellent credit history for your business.
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