A tax ID number (EIN) is crucial for taxes, banking, and payment.
Without an EIN, your business simply can't get off the ground. It’s necessary to file federal tax returns and to receive a tax ID number from most states.
Aside from taxes, you need an EIN to open a business banking account or credit card. And when it comes to invoicing, many companies won’t pay you without an EIN on file.
EIN FAQs