IRS Form 8822-B walkthrough (Change of Address or Responsible Party - Business)
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- Опубліковано 9 кві 2024
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Here are links to articles and videos we've created about other tax forms and schedules mentioned in this video or its accompanying article:
IRS Form 8822, Change of Address
Article: www.teachmepersonalfinance.co...
Video: • IRS Form 8822 walkthro...
IRS Form SS-4, Application for Employer Identification Number
Article: www.teachmepersonalfinance.co...
Video: • Form SS-4 walkthrough ... - Навчання та стиль
Thank you for very much for sharing this information!
Thank you so much, you are awesome for the education and I appreciate you so much😊
What does tittle mean cuz my wife registered the company as consultant does that mean the tittle should be consultant or its president
Hello and thank you for this video! So if I'm only changing my business mailing address and nothing else, I should not check off boxes 1, 2, or 3? Thank you.
You would need to check the appropriate box, since your change of business address will impact at least *one* of your tax returns (such as a business income tax return, whether filed on Schedule C, Form 1120-S (S-corporation), or Form 1065 (partnership).
For our LLC, we mailed the form from our new mailing/business address. Does it matter which we mail from (new or old)? Thanks for the thorough information!
It should not matter which address you mailed your form from, as long as the fields are properly completed on the form itself.
If I am changing my business location and mailing address to the same location which is new, would I check boxes 1 and 3? And if I check those boxes, would I still be able to take my home office expense as normally on my schedule C, even if my business address is not the same as my home? To elaborate, I am thinking I need to update my business address to my new virtual office address (which will also be my new mailing address), but I work out of my home. So I am doing this to keep my home address private, but my concern is that this change would affect my home office deduction. I hope I made this question clear.
I will also be updating my name to my new married name. Is this necessary? Thank you!
I'm sorry that I didn't see this earlier.
You should be able to check both boxes 1 and 3.
If you have legitimate home office expenses, you might be able to claim a home office deduction, but it will be tough. According to the IRS, your home office must be the primary place of business, which you're indicating that it's not. But if you are using a virtual office address (as many businesses do), then you should be able to justify it when audited.
At the end of the day, it seems that you have a decent understanding of the impact caused by your filing Form 8822-B. As long as you feel like you can walk an auditor through your process, and if you believe that your auditor would still credit you with your home office use, then I don't see a problem with you doing this.
You should update your name to your married name, as this should be irrelevant.
Hey! Thank you for the video, its very helpful! I'm sending this form on behalf of my client and I dont have any official written authorisation letter from them, just verbal agreement. Am I able to sign it or do I need my client to sign it? If I can do it by myself, do I write my name and signature/my company name and signature? And title will be representative? Thank you!!
As I see it, your client would need to sign, unless they grant you permission with a power of attorney form (i.e. IRS Form 2848).
According to the form instructions:
If you are a representative signing on behalf of the taxpayer, you must attach to Form 8822-B a copy of your power of attorney. To do this, you can use Form 2848. The Internal Revenue Service will not complete an address or responsible party change from an “unauthorized” third party.
Below is more information about the power of attorney form.
IRS Form 2848, Power of Attorney and Declaration of Representative
Article: www.teachmepersonalfinance.com/irs-form-2848-instructions/
Video: ua-cam.com/video/VOeWSHKXr1g/v-deo.html
@@teachmepersonalfinance2169 got it, thank you so much!
I recently changed my business type for my llc from e-commerce to real estate do i need a new ein?
It doesn't seem that you would need a new EIN simply because you changed your business' direction from e-commerce to real estate. The IRS has a page that can help you navigate this for yourself, depending on your circumstances: www.irs.gov/businesses/small-businesses-self-employed/do-you-need-a-new-ein
Can't do it at the Local IRS office?
You can change your address of record at your local IRS office. Most offices require you to make an advance appointment, but if you are able to avoid a long wait, this might be a preferable option for you.
My dad gave my husband the business as he wanted to retired. I want to make sure my dad is no longer associated with this business because my husband is horrible at business and I know he will mess things up…will completing this form as a change of responsible party enough to process the change?
Updating the change of responsibility should be sufficient for the IRS to recognize that your father is no longer the business owner. However, you may want to check with your state's business office (i.e. Florida's Division of Corporations, also known as Sunbiz) to see if there are any additional requirements for reporting ownership change.
What is tittle on the form cuz I see you wrote president is the tittle the info you used when registering the comoany cuz my wife used consultant is that the tittle. ?
The title is defined by you. So if your wife is a consultant, that’s probably fine.
Here's my issue. The guy I got tonset up my LLC filed the wrong address on my EIN and he won't respond to any communications via direct message, email, or his office personel. What can I do about this? He put someone else's PO Box on it and I don't have access to it. This seems to be a very big deal and I'm not sure how to fix it.
In your situation, you might be better off calling the IRS, validating your information, and changing your address over the phone. There's more detail on the IRS website: www.irs.gov/taxtopics/tc157
Hi, I already submitted 8822-B to IRS on Nov,2023. However, I haven't got any information from IRS so far. Could you pls advise me how to do this case. Thank you so much !
Call them