Federal Tax ID
A unique nine-digit number assigned to individuals and businesses by the Internal Revenue Service (IRS) for tax purposes.
U.S. citizens and eligible individuals are assigned a Social Security Number (SSN). Non-citizens and ineligible residents are issued an Individual Tax Identification Number (ITIN)). Business entities are assigned an Employer Identification Number (EIN). A Federal Tax ID is a unique identifier assigned to businesses by the IRS for tax purposes. It is essential for legal compliance, financial reporting, and conducting business transactions across the United States.
Used in a sentence
The federal tax ID is required for all financial transactions and compliance reporting.
Synonyms/variation
FTID
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