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Wednesday, December 26, 2012

IRS Not Issuing Tax IDs At End Of 2012

I went to the IRS website today and noticed that they are not issuing tax IDs for new businesses or trusts from December 27th, at 4pm until January 2 of 2013.This will make it particulary difficult to make a year end gift to a newly created trust or LLC as they will not be able to open up bank accounts without the EIN.  The IRS is officially saying that they are shutting down the website for maintenance, however, I personally wonder if it is to stop the flow of year end gifts in light of the apparent return to a $1,000,000 gift tax exemption.


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Anonymous said...

This is a very interesting observation. I saw that they were shutting down the on line stuff, but I must still believe in the tooth fairy, because I really thought it was for toward, as opposed to untoward purposes.