What does FEIN stand for?

FEIN stands for Federal Employer Identification Number. This is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to business entities operating in the United States for the purposes of identification. A FEIN is essential for various tax-related activities, including the filing of tax returns, reporting employee income, and for opening a business bank account. It functions similarly to a Social Security number for individuals, but it is specifically designed for businesses, allowing the IRS to effectively track and manage tax obligations for employers.

The other choices do not accurately reflect the true meaning of FEIN. For example, a Fraud Employer Identification Number, Federal Employment Insurance Number, and Fraud Evaluation Identification Number are not recognized terms within the IRS or business identification context and do not carry the same legal or functional significance as the Federal Employer Identification Number. Thus, A is the only accurate definition.