Identity theft is a serious threat, not just to you, but to your businesses as well. Partnerships, trusts, estates, non-profit organizations and all other entities that are EIN (Employer Identification Number) holders are vulnerable.
If you encounter some of the issues below, this might be a signs of tax related identity theft:
- You get an IRS rejection notice when trying to file the business federal extension stating an extension for your EIN has already been filed
- You can’t e-file the federal tax return because the return was already filed with the same EIN
- Your IRS tax transcript does not match anything you submitted
- You receive a notice from the State that an employee applied for unemployment, although you did not lay off any employees recently.
It is important for you to be alert and take strong security measures to protect your business and its data. Communicating any business information changes to the IRS and your State is one such step you can take towards protection against identity theft.
Update Business Information With The IRS
The business is required to report any change in the responsible parties and/or address with the IRS within 60 days of change. You can update your business information using Form 8822 B-Change of Mailing Address or Responsible Party:
Update Business Information With The State
You also want to make sure that you business information is current with the state.
Make sure the registered agent information is up to date with the Secretary of State. In Texas, you can update this information using Form 401:
One other institution you want to have current information with, is the State Comptroller. Use the following link to update the business information with the Texas State Comptroller:
If you need help with your federal or state taxes, give us a call or schedule an appointment.
This material is for informational purposes only. It does not constitute tax, legal or accounting advice.