Should the name of a person coincide with what is on the IRS tax return when incorporating a company?
Recently, when we incorporated the company, one of the partner’s name used was the one that he regulary uses in his daily life and it is different from the one on his IRS returns. The question we have is whether the name on the IRS return and on the Incorporation document be identical? If they are, will there be any conflicts at the time of tax reporting?
How could the error be corrected if the names should match on both the documents. Any comments/advice is appreciated.
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August 9th, 2010 at 6:26 am
A corporation is a separate legal entity from its shareholders. It doesn’t matter what the name of the partners are.
August 9th, 2010 at 7:07 am
He could call himself Thurston Fuzzwater the Weak if he wanted to, as long as no fraud was intended it doesn’t matter what he calls himself.
August 9th, 2010 at 7:43 am
The business should apply for an employer identification number (by filing out the online Form SS4), that way the business is identified by its number and the taxpayer is identified by their number (i.e., their social security or similar number). That is how the IRS keeps track of different taxpayers who have the same names.
Kreig Mitchell
http://www.irstaxtrouble.com
http://www.irstaxtrouble.com/blog.htm