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In this video tutorial, the speaker discusses the procedures for canceling an EIN with the IRS. An EIN is an employer identification number, which serves as a tax ID number for businesses, trusts, estates, joint ventures, and charitable organizations. Once an EIN is assigned, it remains attached to the entity and is never reused or recycled. Therefore, it cannot be canceled in the traditional sense. The only way to effectively "cancel" an EIN is to close the associated business entity or request a new EIN if needed.