08/22/2011
Currently, when we receive a IRS Tax Levy, we look at the Social Security Number or EIN Number on the Levy and the name. We then research this information in our system to see if they have an account(s) and what funds are available to hold on the day the Levy is presented. We base this on the Name and EIN or Social Security Number provided on the Levy. My question is if we perform our search and determine that the primary name and Social Security number on the account does not match the Levy but the person the Levy pertains to is a signer or secondary owner to the account (Joint Account), should we hold those funds? Should this be done even if it's a Business, Minor Account, IOLTA, Escrow etc.? I would think consideration should be given to the relationship the person upon whom the Levy is presented has to the account.
07/18/2011
Can a check made payable to a dba by an account holder be exchanged for a cashiers check made payable to the same dba if presented by a non account holder? If so, are dba papers required?
07/11/2011
Can an LLC open an account as a DBA under another LLC? Example: Seattle Coffee Bean, LLC DBA Pier Management-Houston, LLC.
04/25/2011
Is it okay to cash checks made payable to a DBA? For example: John Doe DBA Joe's Carwash.
04/18/2011
Is it possible for an account to be set-up as the following ACME, Inc DBA ABC LLC?
03/21/2011
I have a customer who wants to open an account as a limited partnership dba a nominee trust. They then want to deposit checks made payable to themselves (the trustees), the trust, the limited partnership and other small trusts (rental property) into this 1 account. I say that should not be done but the client is insisting it can be done. Am I right? They only have 1 tax id number
02/28/2011
We have an account with husband and wife d/b/a; can they add a third party to this account?
02/07/2011
What documents are needed when a husband dies and the spouse wants to take over the business? The husband is the owner on all the DBA forms. The wife is an authorized agent on the accounts, and wants to remove his name from the accounts. Do we need her to apply as a DBA or would we need a copy of the Will leaving the business to her? Would she need to close the accounts and reopen them as new accounts? What is the best way for the DBA owner to be removed? We have a copy of his Death Certificate.
12/06/2010
When the owner of a DBA dies, are the authorized signers still authorized to sign? The account uses the deceased owner's social security number.
11/08/2010
If a sole ownership is to be opened, using an EIN, does it matter what order the name lines are in at the account level as long as the tax reporting is under the EIN? We are thinking: 1. Sally Joe ... 2. DBA Sally Joe Crafts EIN and tax reporting Line is #2.