Announcement

Collapse
No announcement yet.

Old FEIN# Issuance

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Old FEIN# Issuance

    Appx 10 years ago taxpayer applied (and received) a FEIN for a new business. Business never opened and FEIN was never used.

    Taxpayer recently quit his job in 2016 and now wants to start a business. Can he use the old FEIN issued years ago? Or has the IRS run out of numbers and begin using some of the nine-digit numbers again?

    FEIN numbers are being issued today like never before. Requirements for estates in probate, bank accounts, and commerce in general are insisting on FEIN numbers even if they will never be used.
    Tags: None
    #2
    It's still his number I think

    Originally posted by Snaggletooth View Post
    Appx 10 years ago taxpayer applied (and received) a FEIN for a new business. Business never opened and FEIN was never used.

    Taxpayer recently quit his job in 2016 and now wants to start a business. Can he use the old FEIN issued years ago? Or has the IRS run out of numbers and begin using some of the nine-digit numbers again?.
    According to this at irs.gov, they do not reuse numbers. I am thinking there are 10^9 (10 to the 9th power) combinations of nine digits possible, which is one billion. So, I think we're good on no need to reuse a number. I could be wrong, it's been awhile since I thought about that type thing.
    Canceling an EIN - Closing Your Account | Internal Revenue Service
    https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Canceling-an-EIN-Closing-Your-Account
    Find out how to close your employer identification number (EIN) account.


    According to this at irs.gov, he needs a new number if ownership or structure changes. Technically, I don't think that happened.
    Do you need a new EIN? | Internal Revenue Service
    https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Do-You-Need-a-New-EIN
    Generally, businesses need a new Employer Identification Number (EIN) when their ownership or structure has changed. Determine if you need a new EIN.
    Last edited by RitaB; 04-29-2016, 10:48 AM.
    If you loan someone $20 and never see them again, it was probably worth it.

    Comment

    Previous template Next

    Disclaimer

    Collapse

    This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

    Working...
    X