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    pheobe3's Avatar
    pheobe3 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 26, 2008, 12:28 PM
    Not in Business
    I received my federal tax i.d. number two years ago for a home based business that I ended up never starting. What should I do?
    Clough's Avatar
    Clough Posts: 26,677, Reputation: 1649
    Uber Member
    		  
    #2

    May 29, 2008, 05:00 AM
    Hello, pheobe3!

    I just moved your question from Home-Based Business over to this topic area so that it would be more likely to get answered by someone who really knows about tax issues. I hope that you don't mind. It will be more likely to be answered correctly and accurately over here.

    Thanks!
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    May 29, 2008, 06:11 AM
    You mean EIN-- Employer's Indentification Number. You don't need to do any thing.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    May 29, 2008, 06:35 AM
    To expand on MuKat's answer, just don't use it. You don't have to return it or inform the IRS that you aren't using it. As long as they receive no 1099s or returns, using that number, they don't care.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #5

    May 29, 2008, 09:03 AM
    Agreed; after a number of years of inactivity, the IRS re-issues the EIN to another taxpayer who will use it.
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