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In this video tutorial, the speaker discusses the procedures for canceling an Employer Identification Number (EIN) with the IRS. An EIN is a tax ID number assigned to businesses, trusts, estates, joint ventures, and charitable organizations. Once an EIN is assigned, it remains attached to the entity name and is never reused or recycled. Therefore, EINs cannot be canceled in the traditional sense. There are only two options to effectively "cancel" an EIN, although the term "cancel" is not entirely accurate due to the permanent nature of EIN assignment.