The IRS Audit Blog

Question: Cancelling an EIN?

I got my EIN in May 2008 and have yet to get any business, how do I cancel my EIN? Do I simply write the IRS a letter saying I didnt make any money and want to cancel my business? and if so which location do I sent it to? the main office in Ohio or the CT one because I live in MA?

Answer: Here is the answer from the IRS website: www.irs.go

Canceling an EIN – Closing Your Account

Once an EIN has been assigned to a business entity, it becomes the permanent Federal taxpayer identification number for that entity. Regardless of whether the EIN is ever used to file Federal tax returns, the EIN is never reused or reassigned to another business entity.

The IRS cannot cancel your EIN. However, if you receive an EIN but later determine you do not need the number (the new business never started up, for example), the IRS can close your business account. The EIN will still belong to the business entity and can be used at a later date, should the need arise.

To close your business account, write to us at: Internal Revenue Service, Cincinnati, Ohio 45999 and state the reason you wish to close your account. If you have a copy of the EIN Assignment Notice that was issued when your EIN was assigned, include that when you write. Otherwise, be sure to include the complete legal name of the entity, the EIN, and the business address.

Note: If (1) you made a Federal Tax Deposit or other Federal tax payment, (2) are liable for any Business Taxes, or (3) the IRS has notified you that a business tax return is due, you must file the appropriate tax return(s) before we can close your account. See Closing a Business Checklist for other actions you may need to take.

Colorado Business

UQM Technologies Inc., a Fred erick-based developer of alternative-energy technologies, announced that a UQM PowerPhase 145 electric-propulsion system is powering an electric Superbike being unveiled at the Battery Show in San Jose, Calif., this week by pro motorcycle racer Chip Yates and his Swigz.com Pro Racing Team.

Tax Lawyer In Cincinnati Ohio Northern Kentucky Tells How To Deal With IRS

Question: I need my w2′s & 1040EZ forms for the past 3 years but I can’t find them?

I was wondering how fast could I get them if I go to an IRS office to request them and how much does it cost?

Answer: Going to your local IRS office is a smart thing, but the wait maybe long, the IRS employee will print out the w2 wage information transcript and a return transcript, for FREE, if you need the actual F1040EZ and the w2 then you need to download form 4506 and pay $52.00 or $57.00 for each year you need. If you need these copies for bank, school etc the transcript are accept for proof of income and proof of filing. But if you have not filed your tax return and are needing the Form 1040 EZ to file then visit irs website www.irs.gov and keyword forms and then go to more forms and publications then previous years.

Good luck.

Tax Increases Expected in Aurora

Aurora taxpayers with property outside the Village of East Aurora were warned to expect a 33 percent tax rate increase in their “town outside the village” tax bill in 2011, primarily reflecting the cost of police service. Aurora Supervisor Jolene Jeffe previewed a tough budget year at Monday’s regular board meeting.

Progressive Reaction to Joe Stack IRS Suicide Plane Attack – Take Back Talking Points ep 11 part 7

We’re Late, We’re Late! | It’s a very important date, but nobody quite knows what to do with PLANiTULSA.

It’s been more than two months since the City Council concluded a two-year adoption process by formally approving the PLANiTULSA update of the city’s comprehensive plan, raising the issue of when elements of the plan will begin to be put in place. PLANiTULSA’s Draft Strategic Plan includes six spec… By Mike Easterling.

Year-End Review

Question: I typed in the wrong account number when I submitted my taxes, will I get my refund back?

I was one number off and I checked the IRS “Where’s My Refund” website and it has already been deposited to the wrong account on 6 Feb 09, obviously not my account because I checked and it never got there. I used TaxActOnline.com, I still think they are awesome, after all, I made the mistake, not them. Will I be able to get my refund back? Anybody have any advice on what I should do? Or am I just stuck without a refund?

Answer: The direct deposit probably already bounced back to the IRS when they tried to deposit it into the wrong account because it obviously did not have your name on it. You need to contact the IRS and let them know and you will still be able to get your refund. It will take a little while though because they have to wait until your refund kicks back from the bank and then they can act on it and redo it, although they may have to mail you a paper check instead. I don’t think they let you change account numbers to correct your error over the phone due to security purposes so don’t count on another direct deposit. But probably in another week to 10 days you should get your refund after you have called them and explained the error to them.

EDIT: I just found this on the IRS site about refund inquiries…question #19—-

You omit a digit in the account or routing number of an account and the number does not pass IRS’ validation check, IRS will send you a paper check for the entire refund;

You incorrectly enter an account or routing number and your designated financial institution rejects and returns the deposit to IRS, IRS will issue a paper check for that portion of your refund; or

You incorrectly enter an account or routing number that belongs to someone else and your designated financial institution accepts the deposit, you must work directly with the respective financial institution to recover your funds.

Oct. 10: Giannoulias vs. Kirk, roundtable

Transcript of the October 10, 2010 broadcast of NBC’s Meet the Press, featuring Alexi Giannoulias, Mark Kirk, Peggy Noonan and Joe Klein.

News Update: IRS to no longer facilitate refund anticipation loans

Question: Deployment readiness for military spouse (power of attorney, DEERS)?

My husband is in the Marine Corps. and deploying to Afghanistan Sept. 20th 2009. Our baby boy is due Dec. 11th.

1) I understand that I need to update with DEERS that he will have a new dependent. Is there any other place I need to update this with besides Tri-care? Do I have to go to IPAC? Also, I am confused as to if he will be paid for the new dependent?

2) I have a general power of attorney for my husband, but have been reading that this is not enough if I need to handle loan accounts that I am not on, or to be able to sell his vehicle while he is gone, handle insurance policies, file his income tax return etc. If I get a “special” power of attorney each of these items has to be listed? I thought that in the state of Texas a general power of attorney meant that I could handle anything on his behalf.

Answer: You will need a Specific POA that allows you to talk to the loan company, the bank, to sell and purchase a vehicle and anything else. This might be allowed by a Specific Financial POA but sometimes they will require one for each item. A General POA will not work when it comes to financial matters.

With having a child you will need to have a Specific POA to talk to Personnel/IPAC and have the child entered as his. It will be beyond Tricare itself. He doesn’t get any more money for having a child unless you are at an Overseas location where he gets OCONUS COLA for all of you. That is the only time it would make a difference in how many dependents there is.

Council approves budget, tax rate; higher gas inspection fees OK’d

After a budget season that began with a deficit, it officially ended Monday with a more favorable outcome.

Austin Texas Tax Attorney – IRS Tax Representation and Comptroller Sales Tax Defense