Do I Need a Taxpayer Identification Number for my Business?

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Do I Need a Taxpayer Identification Number for my Business?

A taxpayer identification number (TIN) is a number used by the Internal Revenue Service (IRS) to identify people and companies. Most companies need to file with the IRS to receive an Employer Identification Number (EIN). Those who do not need an EIN typically use their social security number unless they fall under a limited exception to the general rule. A business needs to obtain an EIN if the business has any employees, if it operates as any type of corporation or partnership, if it has to file special tax returns for employment, excise or alcohol, tobacco and firearms or if it is involved with certain types of organizations such as estates or non-profit organizations.

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