Hi, I am in the process of filing a business return with the help of TurboTax Business.
I need to inform the IRS of the business name change from ABC to XYZ. TurboTax Business software does not seem to be showing a prompt with the name change question that is Form 1120-S: Page 1, Line H, Box 2.
I checked this box in the Forms mode, but it is not clear where to include the new name.
Do I simply put XYZ as the legal s corp name and never mention ABC?
Do I put XYZ (formerly ABC) as the name?
Do I put ABC and use 8822-B to enter XYZ?
Thank you
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Just enter the new name after checking the box.
They do not need the old name because an officer of the corporation (responsible party) has to sign the return (or sign the e-file transmittal).
If you change the responsible party, then you file an 8822-B.
"If you are filing a current year return, mark the appropriate name change box of the Form 1120 type you are using:
Form 1120: Page 1, Line E, Box 3
Form 1120-S: Page 1, Line H, Box 2
If you have already filed your return for the current year, write to us at the address where you filed your return to inform us of the name change. In addition:
The notification must be signed by a corporate officer."
I haven't filed yet, so I checked "Form 1120-S: Page 1, Line H, Box 2", but I am still not seeing where to enter the new name if I must file with the old name which IRS has on file. Of course, a letter is always an option, but I'd rather know how to do it when actually filing the forms.
Just enter the new name after checking the box.
They do not need the old name because an officer of the corporation (responsible party) has to sign the return (or sign the e-file transmittal).
If you change the responsible party, then you file an 8822-B.
Thank you
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