How to Change EIN in QuickBooks – A Comprehensive Guide | |
Changing your Employer Identification Number (EIN) in QuickBooks is a crucial process if your business undergoes changes such as a merger or reorganization. Here’s a step-by-step guide to help you through it: Backup Your Data: Before making any changes, ensure you create a backup of your company file. This step is vital to prevent data loss. Update Company Information: Open QuickBooks and go to the Company menu. Select My Company and then click on Edit Info. In the Company Information window, update the EIN field with your new number. Update Payroll Information: If you use QuickBooks for payroll, you need to inform QuickBooks of the EIN change. Go to the Employees menu, select Payroll Center, and then choose Payroll Setup. Update your EIN in the relevant fields. Notify the IRS: Changing your EIN in QuickBooks doesn’t update the IRS records. You must notify the IRS separately using Form 8822-B to update your business address or responsible party. Consult with a Professional: If you’re unsure about any step or the implications of changing your EIN, consult with your accountant or a QuickBooks professional. By following these steps, you can ensure a smooth transition to your new EIN in QuickBooks. | |
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