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leafoAdmin6 years ago (2 edits)

To answer your first question, you should enter your own name, as the representative of the company. That is used to prepare the tax interview. Once in the interview you should follow their instructions, and if you have to enter an entity name then you should do that.

The most important thing you provide is your tax identification number. If you're collecting payments on behalf of your business then you'll generally be using an EIN, otherwise for personal income you can provide your SSN.

The system we use has a "name change queue" that gets processed asynchronously that we go through after you've submitted the interview.  We can verify any changes if necessary after they've looked up your information in the IRS database. If a name needs to be corrected it's generally not a big deal, the most important thing is you provide the correct tax number, since that's how the IRS is going to associate the income to either you or your business when we file 1009k.

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MR_Games6 years ago

Yes, I got it to work by using SSN, since that's the info in the IRS database, even for the business activities because it is a single-member LLC, so IRS disregards the business entity for filing purposes.  I have an EIN, but can't use it because IRS doesn't recognize it, since I never filed with it, because they disallow it.  So, no matter.  It's still for the business, but is all filed together with personal income.  Since you guys payout through Paypal generally,  the bank account linkage is all controlled by me, so I can keep distinct bank records for business which is my goal.   I would like to use the EIN to keep things truly distinct, but those are the IRS rules I guess.  

So, in light of this, one more general question...  to get through the tax interview, if you have a new EIN that you have never filed taxes with IRS before, would it be rejected until you have filed with IRS at least once?   Say, my business status changes from single-member LLC and I add an employee.  IRS would then allow me to file distinctly for the business under the EIN, but the EIN wouldn't be in the database until I file, correct?  So, it wouldn't be allowed on itch.io, being rejected by the tax interview?   I suppose this would be a question relevant for all new businesses with multiple employees in the year they form as well.   Would they not be allowed to use the EIN on itch.io until the following year after they formed/incorporated, being rejected during the tax interview because it is not in the IRS database yet?   Or is this only an issue with single-member companies that maybe the IRS removes the EIN from their database?   

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firecat6 years ago(+1)

I can answer that:

1) The IRS loves SSN because it is the easiest way to track people, once you have it you need to use it all the time.

2) EIN is for business yes but what i think the IRS thought is that you do not have anyway to do business. I do not know it is tricky but not important or something to worry about because...

3) Once you have someone you do need a EIN this helps IRS not track you, its like an easier way to keep things in order.

4) I think you need to ask itch.io support if any changes is needed for taxes.

another website can explain this in full detail if you are still confuse: https://www.nolo.com/legal-encyclopedia/ein-employer-id-number-for-business-3612...

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MR_Games6 years ago

Thanks firecat.  

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