You’re probably already aware with the idea of a Social Security number since you’re an American citizen. The Social Security Administration issues each person with a unique identification number that is used for a number of things, including tracking earnings and benefits. The Employer Identification Number (EIN), also known as the Federal Employer Identification Number (FEIN), may not be as well known to you. We will examine the Social Security EIN in this post, addressing some often asked issues and provide understanding of this crucial identification number.
No, an EIN and a Social Security number are not interchangeable. Although both are used to identify people, they have different objectives. The Social Security Administration (SSA) issues Social Security numbers to people, whereas the Internal Revenue Service (IRS) issues Employer Identification Numbers (EINs) to businesses and other entities. In essence, a Social Security number is used for personal identification, whereas an EIN acts as a business’s tax identification number. Is it possible to check my EIN number online?
You can find your EIN number online, yes. Businesses and other entities can apply for and retrieve their EIN number via the EIN Assistant, an online resource provided by the IRS. You must enter some basic information about your company, including the legal name and address, in order to utilize the program. The program will provide you your EIN number when you have entered your information. Can I Use My EIN on My W2 Instead of My SSN?
No, on a W-2 form, an EIN cannot be used in place of a Social Security number. An employee’s wages and taxes withheld are reported on the W-2 form to the Social Security Administration, which keeps track of this data using the employee’s Social Security number. An EIN cannot be used to identify an individual employee, even though it is used to identify a firm for tax purposes.
To sum up, the Social Security EIN is a crucial identification number that is used to identify corporations and other entities for tax purposes. In the corporate world, it performs a comparable purpose to a Social Security number even though they are not the same thing. The IRS’s EIN Assistant tool can be used to check up your EIN number if you need to do so online. On a W-2 form, you cannot substitute an EIN for a Social Security number, it is crucial to understand this.