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Ask Lane Your Own Question
Category: Tax
Satisfied Customers: 11829
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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My brother's and my business (inherited from our Mother, passed

Customer Question

My brother's and my business (inherited from our Mother, passed March 16, 2012) received a new EIN. I was not aware of this change and I am the active partner. The accountant doing the K! this year has been both my mothers (business was a sole prop. until her death , then became a partnership) and my brothers account for many years. She set the new # ***** and all the correspondence went to my brothers address ,therefore I never received a letter saying we had a new EIN. He is not involved at all in any business activities concerning the store having a busy separate career and assumed I received the s ame letter and just filed his away. I have unfortunately conducted all business using the old EIN....until the first quarter of 2015, when I found all of this out just days before I filed. I spoke with a field office here, he said to call the business #but I have not after many tries gotten through. I hope you can help me.....
Submitted: 2 years ago.
Category: Tax
Expert:  Lane replied 2 years ago.
The answer IS to SOMEHOW contact IRS and make them aware, although I need to know exactly what "have done business under the old ID" means.
If the accountant has been doing the K-1's from the partnership return (which is what you became by default, a partnership, when you and your brother inherited) Then this may not be the issue you think it is.
If she applied for the new number and it's been the K-1 issued UNDER that EIN, then your reporting that on your return should be OK.
Can you tell me more?
Also I'll make what's called an additional services offer here, so you can discuss over the phone if you'd like ... If you accept I'll enter the office number (OR we can continue here)
Customer: replied 2 years ago.
Thank you very much. I was connected with the IRS shortly after receiving your answer. You were right there really should not be a problem, as I did start using the new number the first quarter of 2015.
Have no other questions at this time.
Best regards,
Expert:  Lane replied 2 years ago.
Your positive rating (using the STARS or faces on your screen) would be THANKS ENOUGH Angela.
Glad I could help

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