My son wants to change the name of his DBA. Does he submit a form to the IRS? If yes, what form? Presumably, the IRS response will be slow. Should he just use the current name on the 2024 tax return until notified of the change by the IRS?
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You don't need to notify the IRS of a DBA name change.
The current DBA has a tax identification number. Does the fact of a TIN affect the name used on the tax return?
It depends on the type of return you are filing. If you are filing a personal return and reporting a Schedule C on your return, the business may have a different Tax ID number or EIN. This is perfectly acceptable and will not affect your own tax return. As you prepare your schedule C, you will be asked if the business has its own Tax ID number.
If you are filing a business return in the name of the disregarded entity or DBA, then the return is filed in the name of the business with it's tax id number (TIN). Then as a result of the filing, a K-1 is issued to you in your name to file your own personal tax return with your own social security number.
Let us know if this answers your question and reach out if you have additional questions.
The plan is to file a personal return and use a Schedule C. In that case, are you saying that we keep the current TIN of the DBA but change the name of the DBA to the preferred name?
You should file the current DBA with the EIN that has been assigned to it, if your son has employees. If not, then his social security number (SSN) will suffice. If he wants to change the name of his 'doing business as' (DBA) company the state may require him to ask permission making sure he is not taking a name already established. Check with your state for the required procedure before applying for a new name or EIN.
Secondly, a new EIN would need to be obtained if it will be used because of employees or an entity change. Entity is partnership, limited liability company (LLC), corporation or s-corporation. The IRS has a method of identifying a business name and EIN for the reasons noted. Likewise they do not want to issue an EIN when it's not required.
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