FEIN / TAX ID NUMBER

An FEIN (Federal Employee Identification Number) also known as TAX ID NUMBER is needed if you have employees.

It is easy to get and it is free on irs' website. It is used to 'id' a business to the IRS for W4 and W2 forms just as a social security number is used to 'id' an employee on those same forms.

In addition, it is used to establish a bank account in your company name.

People with bad credit and criminal records start businesses(with no intention of actually doing anything with them), obtain Tax ID Numbers just to get things their bad name and criminal record will not let them get.

Like a cell phone

And....so they can pretend they are working on something- 'cause they are unemployed.
So, when somebody says;"What do you do?" they can mention the name of the company and it sounds so important.

But nothing is being worked on. Especially if it is the second business. Because once you have actually worked to start one business---the 2nd, 3rd, 4th businesses are easier than the first. It does not take long to get going.