We're marketing HSAs. Marketing considers this a checking account and only needs Member FDIC. Compliance says we need insurance disclaimers (not, not, may). Who is right?
When opening an IOLTA account, can it be a "doing business as" account or does the law firm have to have an EIN number?
If we have a properly certified non-resident alien, would we need to report an early withdrawal penalty to the IRS and generate a 1099 even if we do not report interest income for the customer?
What needs to be done for IRS reporting when you have an IRA spouse only beneficiary, that wants to "treat as own"?
Can a partnership report under one of the partner’s social security number, rather than filing for a EIN?
Is it mandatory that the titling of an account for an LLC (sole member) be structured to have the individual's name on it, or can it be titled as strictly the name of the company?
When you are opening a Miller Trust account or qualified income trust, whose social security number do you use to open it, the beneficiary's or the trustee's? Should the trust have its own TAX ID number?
When a bank begins backup withholding on a customer, is it required to notify the customer?
At a grand opening or moving project, we would like to use a prize wheel. The prize wheel would only have items that range in value from $1.00 to $25.00. The $25 items obviously being the single panel on the wheel. If anyone who spins the wheel is guaranteed some specialty object or prize, can we use it at an event? In other words, there would be no “Lose Turn” or “Bankrupt” as seen on TV. Prize wheel gifts will be changed on a regular basis. And, in order to be able to spin the wheel you have to bring in the direct mail piece. No account existing or new account is necessary in order to participate. Is this a problem?
We have an attorney who wants to open an escrow account; however, the funds are from an estate that is being contested. He wants to open the account with the deceased's SSN. Should he not have to get a tax ID number?