EIN

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Closing your business? Communicate with tax authorities

If you are closing your business, you need to communicate to the tax authorities (Federal, State and local) which requires filing a final tax return, pay any liabilities to employees or vendors, pay any taxes outstanding, etc. Additionally, you need to keep the business records for a few years based on the period of limitations

By |2021-11-07T21:51:11+00:00November 7th, 2021|Categories: Business|Tags: , , , , , , , , , , |

Businesses, charities, and others must update responsible party within 60 days of any change

In the IRS IR-2021-161, the IRS reminded that businesses, charities, and others with Employer Identification Numbers must update responsible party information within 60 days of any change. IRS regulations require EIN holders to update responsible party information within 60 days of any change by filing Form 8822-B, Change of Address or Responsible Party - Business.

By |2021-08-19T15:53:50+00:00August 1st, 2021|Categories: Business|Tags: , , , , , , , , , , |
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