09/12/2011
A new LLC has two members (husband and wife). The husband is also listed in the Articles of Organization as the registered agent. Can the LLC account be opened under the husband's social security number?
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.
08/01/2011
We have a joint account for a sister and a brother. The sister passes away. The family is in the process of establishing an irrevocable trust but is waiting for a tax ID number. The family needs to pay bills and has checks in the sisters name. Can the checks be made payable to the brother stating for deposit only and be deposited in the deceased sister and brothers account for him to pay the bills? Do they need to wait for the tax ID# to deposit into the trust account in order to pay the bills?
06/20/2011
Can a State Sales Tax Levy be executed on a LLC titled bank account with an EIN number? Also, does anyone investigate whether the funds in the account are SS Benefits?
05/30/2011
Can a grantor on a trust change her social security number to a TIN without closing that account?
04/18/2011
Is it possible for an account to be set-up as the following ACME, Inc DBA ABC LLC?
04/11/2011
A customer wants to open a trust titled "The (first name) (last name) Irrevocable Asset Trust Agreement. The customer's attorney says they don't need an EIN but instead can use the SSN of the trustee. Please advise.
04/04/2011
Who will own the funds? Account titled first line Joe Brown; second line Non-Profit Org. The Non-Profit Org. using the SSN of Joe Brown. There are two signers, Joe plus one other. I have suggested the Non-Profit Org get its own EIN, to clear up any confusion. Will the funds belong to Joe's estate at his death?
03/28/2011
Can an LLC open multiple LLCs (different names) share the same EIN? Each LLC is registered with the SOS.
02/21/2011
Is an EIN required to open an account such as a class reunion account, or is it ok to use the SSN of the signer?