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Understanding Employer Identification Numbers (EIN) and Individual Taxpayer Identification Numbers (ITIN)

Understanding Employer Identification Numbers (EIN) and Individual Taxpayer Identification Numbers (ITIN)

Employer Identification Number (EIN)  Employer Identification Number or Federal Tax Identification Number is a 9-digit number assigned to a business by Internal Revenue Service (IRS) for identification’s purpose. It has an important function in the implementation of federal tax laws; it enables the IRS to monitor taxes due from a variety of institutions.  Importance of…