TP is a partner with his wife. For the last several years, including 2004-2005 their return was filed under a previous biz name. They started using a new company name in 2005, but previous preparer filed under previous company name. Nothing has been done to change the name and now 2006 return is due. I should add that none of the quarterly reports have been filed either, nor have w-2's been issued. TP would like to continue to use the same tax id's, etc. He was told by someone at the IRS that he would just have to send a letter explaining this to the IRS? TP wants to do the right thing. Is there a way he can continue to use the previous tax id numbers and change the name without going through the process of ending the previous partnership?
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Check this out
Skyhyatt,
Maybe this will help, I know that I have done this in Calif.from IRS website.Generally, businesses need a new EIN when their ownership or structure has changed. Although changing the name of your business does not require you to obtain a new EIN, you may wish to visit the Business Name Change page to find out what actions are required if you change the name of your business. The information below provides answers to frequently asked questions about changing your EIN.
http://www.irs.gov/businesses/small/...=98011,00.html link to entire q & a.
Sandy -
checked it out
Thanks for the link Sandy. If I'm reading correctly, TP will not have to change ID number. They are going to remain a husband/wife partnership, that is not changing. They would be changing the name of their business.
skhyattComment
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I think so
I think IRS is easier. Just notify them of change of name, Didnt look to see if there was a form or not.
Depending on the state, it could also be that simple. Calif, says fine no problem on change of name, in fact, even in change of ownership they will keep the same EIN #, however I do believe they have a form.
So also check with your State Agency
SandyComment
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In California
I think California is similar to IRS? I am also in California. As usual though, seems like finding info on Calif rules is more difficult than the IRS. I still have yet to find a quality reference guide for Calif.Comment
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Make the call
Sky-
call EDD they will let you know what to do. Very helpful in this area and they really like to keep the same account #.
http://www.edd.ca.gov/taxrep/taxprof.htm then contacts, then probably new employee registry.
Franchise Tax Board, I don't think really cares about the number, since t/p is not registered with the Sec of State ( a partnership).
so you should be good to go!
SandyComment
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Apparently TP is already registered with the EDD under the new name. Know what to do with the IRS now. Still need to check on the BOE. Are you saying that he doesn't need to do anything with the FTB since it is a Partnership? I guess in his case, he is not required to register with the SOS. Thanks so much for your help Sandy.
skhyattComment
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Finally
I finally got through on the phone to the practioner hotline for California. Basically confirmed that I really don't have to do anything with the name change for FTB purposes. I think I'm about good to go. Thanks again for your help.Comment
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Good Job
Great to hear that you made progress! Calif likes to keep same account number on changes of ownership, you will probably encounter another issue with IRS.
Calif gives me "headaches" every now and then" like when I changed a Schedule C to an S Corp, had to apply for a new EIN# with IRS, but California wanted to keep the same number. That was a fun year to prepare W-2 forms, and now as a matter of fact I have a notice from SSA saying they can't match. Wish all the agencies would adopt the same format.
SandyLast edited by S T; 03-14-2007, 10:55 PM.Comment
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