Level 6

Question

Proof of ownership

7 replies
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I have a customer sole owner of an 1120S. He has sold the property that is in the 1120S name. The title company is wanting proof of his ownership from the IRS. I know the original EIN was gotten in 1986 and he can request a copy of the letter CP575. By mail takes to long and by phone the so called business and specialty line you never get anyone.

Do y'all have any suggestions?

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Level 15

Doesn't a copy of the last tax return do that? The 1986 EIN means nothing since the stock could have changed hands fifteen times since that date.

Slava Ukraini!

judys3Author

Level 6

Title says no even though on transactions I have been a part of they accepted and EIN given over the phone for a general partnership.

Correct even though it hasn't.

Level 15

The K-1s indicate who the owners are. Are you dealing with someone at a title company that doesn't know what day it is?

Slava Ukraini!

Level 15

I like to reinforce that your taxpayer signs anything having to do with S Corp business as "President." That should show on everything.

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