Discussion:"Eins in Minutes"
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Death&Taxes (talk|edits) said: | 26 September 2007 |
| or so says IRS: http://www.irs.gov/newsroom/article/0,,id=174316,00.html | |
Ksnoopytax (talk|edits) said: | 26 September 2007 |
| I read about it this morning. I don't understand what is the big deal? I could go online to the IRS website before today and get an EIN using their automated system within minutes. Are they just re-emphizing the ability to do this or is this something different? | |
Death&Taxes (talk|edits) said: | 26 September 2007 |
| Taxpayers, not professionals. Now all those people who write in here about setting up the MMLLCs can get their EIN without bothering us, and giving us one more thing to straighten out. | |
| September 26, 2007 | |
| This is currently the Featured Article on the Main Page of TaxAlmanac.
- Tim Doyle, TaxAlmanac Moderator - Talk to me 16:36, 26 September 2007 (CDT) | |
| 26 September 2007 | |
| The IRS never ceases to amaze me.
They expect all taxpayers to be compliant-yet they don't do any enforcement effort to assure that a minimum tax compliance training program is offered. I may have mentioned it on this board previously (maybe not) that the IRS SHOULD, at a minimum, require new business owners applying for an EI #, to submit to a webinar or teleconference given by the IRS on a weekly basis, that provides compliance information to new businesses - and confirm attendance by business name - BEFORE issuing an EI #. That way there's no excuse for not knowing about tax filings, payroll tax issues, Sub S owner salaries vs distributions, auto expense, fringe benefits, SE health insurance, etc. This continuous effort of IRS to shift administrative duties and responsibilities to the public to relieve IRS from these burdens is what compounds future problems. | |
| 26 September 2007 | |
| So far I'm not a big fan of the new "assisted" online EIN application. It seems to force the applicant to choose an ending month for the accounting period (whereas before this could be left blank). | |
Death&Taxes (talk|edits) said: | 27 September 2007 |
| Webinars, compliance training and other education sounds so great, but I read today in Kiplinger that firms have sent over 100,000 1099-MISC for payments exceeding $60,000 and with non-matching Social Security numbers. IRS does not want to assign additional staff to fix this because they feel it would not be cost effective. Penny-wise and pound foolish, you will say, but that is the budget they have.
Also, do remember not everyone files for a number to be a business: estates for one, or even if Joe next door and I form a simple partnership to buy the house across the street and rent it out, doing everything ourselves. | |
| 27 September 2007 | |
| I'm with Uncle Sam on this one, okay I can see the IRS does not have the funds to do weekly education, but if a person is going to open up a business I think it should be mandetory that they have at least a basic understanding of employment issues or many of the other issues that Uncle Sam mentioned. Maybe if it was required that they take some very basic class before obtaining an EIN they would at least know that "perhaps I could use some professional help, this isn't quite as simple as I thought it was". I don't think that would be too difficult, if you check the box for estate for example, you wouldn't be required to take the business course. | |
