The alphanumeric identifier assigned to Walmart by tax authorities, typically the Internal Revenue Service (IRS), is essential for the company’s employment-related tax obligations. This number, used for reporting employee wages and withholding taxes, facilitates accurate tracking of payroll information and ensures compliance with federal and state tax regulations. For example, it appears on W-2 forms issued to employees annually, allowing them to correctly file their individual income tax returns.
This unique identifier is vital for Walmart’s efficient management of its workforce and financial operations. It streamlines the process of reporting employee compensation to the government, aiding in the prevention of errors and potential penalties. Furthermore, it provides a consistent reference point for tracking employment data over time, assisting with internal audits and financial planning. Its historical significance lies in its role in the broader tax system that supports government funding and public services.