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    E-baseball's Avatar
    E-baseball Posts: 1, Reputation: 1
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    #1

    Sep 26, 2007, 04:38 PM
    Tax form for youth baseball team
    Which tax form should my youth baseball team use for opening a checking account and to use when getting donation?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Sep 27, 2007, 11:39 AM
    Most banks do NOT require completion of Form W-9 when you open a checking account for such a small non-profit organization. If they do, you MAY need to get a Tax ID number from the IRS, which can done over the phone (see www.irs.gov).

    In my opinion, while a youth baseball team IS a non-profit organization, it is probably NOT recognized by the IRS as a charity (unless you go through the trouble of registering it as a 501C organization, a VERY expensive process). Hence, donations to the baseball team are NOT legally deductible as charitable donations.
    treynolds's Avatar
    treynolds Posts: 1, Reputation: 1
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    #3

    Jul 26, 2012, 10:43 AM
    I'm starting to take over from our coach all finances for my sons travel baseball team. How do you suggest we open the bank account
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    Jul 26, 2012, 10:56 AM
    First, go to the bank and ask THEM how to proceed.

    I suspect they will tell you to open the account under YOUR SSN and make the team a joint owner. Given that the account may earn MAYBE 1% interest, the tax consequences will be insignificant.

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