There are several major differences between an Employer Identification Number (EIN) issued by the IRS and the Fictional Identification Number Example (FINE).
First, you may need to apply for an EIN number if:
- Your business operates as a corporation or partnership.
- You need to file reports with the local or state tax organization, Department of Alcohol, Tobacco and Firearms, or IRS.
- You have at least one employee.
- You have a self-employment retirement plan.
- You’re running other organizations, like charities, trusts, or S-Corps.
Getting an EIN is easy, either follow this link to IRS.gov or go there yourself and search for “EIN” using the search bar at the top. You’ll be able to print your confirmation and get your number immediately after going through the questions there.
Second, you might need a FINE if:
- You are making large imaginary gifts to your imaginary best friend.
- You want to look your absolute best for your boyfriend/girlfriend that lives in Canada.
- You need to declare receipts for your multiple daily tea parties with your real life daughter.
- The Fictional Internal Revenue Exaggerated Service (FIRES) has decided to audit your imaginary activities.
Getting a FINE is even easier, you just make one up.
Don’t get these two numbers confused, since the EIN is an important actual number that you need to do important things for your company, and the FINE is not. If you need help keeping track, give us a call and we’ll do our best to sort things out for you.
Tags: weirdly funny