EIN
Business & Finance abbreviation · Tax
| Stands for | Employer Identification Number |
|---|---|
| Categories | Business & Finance |
EIN stands for Employer Identification Number, a tax abbreviation.
Nine-digit federal tax ID, formatted XX-XXXXXXX, that the IRS assigns to businesses, nonprofits, estates, trusts and household employers for filing returns, running payroll and opening bank accounts. It is free and can be obtained online in minutes.
Example: The bank won't open the LLC's business account until we provide the EIN confirmation letter.
Usage notes
Also called a Federal Employer Identification Number (FEIN) or federal tax ID. Sole proprietors without employees may use their Social Security number instead but often get an EIN to avoid handing out their SSN. An EIN is never reissued to another entity, even after a business closes. The IRS confirmation notice is known as a CP 575.
Related abbreviations
More tax abbreviations
- CP2000 – IRS Notice CP2000 (proposed adjustment to income tax return)
- CRS – Common Reporting Standard
- CTC – Child Tax Credit
- DAF – Donor-advised fund
- EA – Enrolled Agent
- EFTPS – Electronic Federal Tax Payment System
- EITC – Earned Income Tax Credit
- ETR – Effective tax rate
- FATCA – Foreign Account Tax Compliance Act
- FBAR – Report of Foreign Bank and Financial Accounts (FinCEN Form 114)
- FEIE – Foreign earned income exclusion
- FICA – Federal Insurance Contributions Act tax