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January 24, 2023
Question

Change of small business ownership and EIN

  • January 24, 2023
  • 1 reply
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I am aware that when one purchases a business the EIN Has to change. In order to open an account for business transactions the EIN is required. NOW,  the question is this... since the previous owner Has To MAIL in a form (8822B) for the ownership Change, Does the current owner have to actually wait for the "Snail Mail" to get to it's destination? A business account Needs to be set up for every aspect in order to run the business in compliance with the IRS. It's just easier with this  in place. Please, help. The IRS just disconnected my call after a 45 min hold...😖

thank you in advance

    1 reply

    January 24, 2023

    You don't need to wait, you can apply for the EIN as soon as you are the legal owner of the business.

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