IRS Changes EIN Limit To One Per Day !!
Effective May 21 , the IRS will begin issuing only one EIN (employer identification number) per responsible party each day, a change from the current limit of five per day. This limit applies to all requests for an EIN whether online or by phone, fax or mail. This policy was implemented to ensure fair and equitable access to all applicants with legitimate tax administration-related needs. It also ensures the EIN system continues to operate effectively. What is an EIN? An Employer Identification Number (EIN) is a nine-digit number that IRS assigns in the following format: XX-XXXXXXX. It is also known as a Federal Tax Identification Number and is used to identify the tax accounts of employers and certain others who have no employees. However, for employee plans, an alpha or the plan number may follow the EIN. The IRS uses the number to identify taxpayers that are required to file various business tax returns. EINs are use...