Posted: Tue Sep 04, 2007 4:58 am Post subject: What actually a FEIN is!
Hi friend!
Let me try to get you a fair idea of what this FEIN is all about!
A FEIN number is a Federal Employer Identification Number. It is often regarded as the Federal Tax Identification Number. It is also regarded as a corporate substitute of your social security number which is also a nine digit number. It is used to report employment taxes. Now, this FEIN is offered to you from the Internal Revenue services Dept. in order to identify you as a valid business entity belonging to the US business industries.
Now, whenever it is meant to be used for identification purposes then it is often termed as a TIN and when it is associated with tax reporting then it is called a EIN. Hope the confusion is not there anymore! Regards, Fatman
Posted: Tue Sep 04, 2007 6:46 am Post subject: EIN vs SSN
Hi ..thats quite right!
It is just the other word for an EIN. EINS are associated with Business organizations, non-profit organizations corporations, agencies etc
While identifying the tax payers' contributions towards the business returns, this number has a crucial role to play. It is the employers' choice whether they would like to use their EIN or the SSN towards reporting the volume of taxes that have remained pending for their employees.
It is easy for the credit bureaus to demarcate between the SSN & EIN as SSN is associated with one's place of origin & likewise records. Thanks, Juanita
Posted: Tue Sep 04, 2007 7:08 am Post subject: Pour more topics relevant to our industry!
Hi all!
This is good to see some of the vital financial queries are coming up at our forums everyday! But at the same time I also noticed that a majority of them like 'this one' are general finance queries. Therefore I feel the urge to appeal to all of you members to add more queries referring to global insurance !
Regards,
Lakemen _________________
Posted: Tue Sep 04, 2007 8:38 am Post subject: the different ways..
hi, I have found out that there is a slight difference between the way these EIN & SSN are projected....EIN comes in the form 00-0000000 while the SSN comes in the form 000-00-0000. Incase a businesshouse doesn't have an EIN then it can't file its yearly tax returns. Yeah, for the ownership businesses the SSN is used for the tax purposes instead of the EIN.
PolyPtolemus _________________ Register Now to have your Insurance queries solved.
Hi,Ganesh,the fein number stands for the Federal Employer Identification Number. The Office of Business Affairs at the University of Illinois requires that every requester provide their FEIN. if you have some doubts ,you can give us respond.
Posted: Sun May 11, 2008 6:51 pm Post subject: business taxes
I don't have employees and I wanted to know if an EIN or FEIN would be suitable for me instead of my social. I don't want to use my social. _________________ Register Now to have your Insurance queries solved.
