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  • taxea
    Senior Member
    • Nov 2005
    • 4292

    #16
    And on top of everything else...some banks require an EIN before they will open a "business account". Then for tax purposes the EIN is not used and the IRS starts asking for returns. The banks just don't understand that an EIN is not required of a sole-proprietorship unless the business has employees.
    Believe nothing you have not personally researched and verified.

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