@GeorgeDenseff wrote:
No, this is not OK. Having a different EIN company name from the one that you will use on your tax return can cause the IRS computer to flag your return to be investigated for fraud.
This needs to be corrected before you use the EIN to file taxes with the IRS Contact the state where you filed for the EIN and ask them what procedure they need to make the EIN name change. It will probably require a signed letter or completing a name change request form for that state.
I disagree for several reasons.
As mentioned below, I think it is probably not allowed to remove "LLC" from the business name. LLCs are regulated by state law, and that may be a requirement.
Second, because LLCs are regulated by state law, they don't really exist for federal income tax purposes. Your LLC will be treated as a sole proprietorship or an unincorporated partnership, unless you file a special form for be taxed as an S-corp. I suspect that the difference between "Smith Renovations" and "Smith Renovations LLC" is not as disastrous as George suggests.
You have two options.
1. Create a new EIN (you can only create one per day so you might have to wait) and only use the new EIN. The old EIN will remain dormant in the system and should not cause any harm as long as you don't use it by accident.
2. Stick with your current EIN, and write to the IRS to change the name. I found these tips on a blog.
How Do You Change The Information Associated With The EIN Number?
Currently, there is no IRS form available to change previously filed information associated with the business or entity's EIN number. To change or update the information that the IRS has on file, submit a letter (on company letterhead if possible) to the appropriate IRS office (depending on the state or country the business or entity is located in) with the following information:
- The responsible party's full legal name;
- The responsible party's Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN);
- The business or entity's full legal name;
- The business or entity's employer identification number (EIN);
- The business or entity's mailing address; and
- The information associated with the EIN number that needs to be changed.
You would use the same procedure to inform the IRS of a change of address of the business.
