What is an Employer Identification Number (EIN)?
This number is a unique identifier from the IRS used to differentiate the estate from other entities.
A unique nine-digit number assigned by the IRS to businesses and entities for tax identification purposes. In estate administration, an EIN may be required for estate bank accounts and tax filings. Obtaining an EIN for an estate helps facilitate financial transactions and ensures compliance with tax obligations. Understanding the role of an EIN is crucial for executors and estate administrators, as it is necessary for proper estate management and reporting.
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