If you are running a corporation, one of the big questions you will often have is whether you will need an Employer Identification Number or EIN. A Tax ID (EIN) number is going to be a requirement if you intend to be in good standing with the Internal Revenue Service. You want to think of your EIN as your unique identifier. Any business activity that you take on will be tracked to that identifier. It carries a lot of weight and it is also a need to do a normal business activity.
So what are some things you will need the Employer Identification Number for? One of the big reasons you will need the Tax ID (EIN) number is to file your corporate tax returns. You will also need it for other basic tasks such as opening a bank account in the name of the corporation, taking out a loan, hiring employees, and so on.