Q:

What is the purpose of filing IRS Form 147c?

A:

Quick Answer

The Internal Revenue Service (IRS) Form 147c is not a form that taxpayers have to file. Rather, it is a form or letter the IRS supplies to taxpayers upon request. Form 147c confirms a business owner's taxpayer identification number (TIN) or employer identification number (EIN) with the business name.

Know More

Full Answer

Form 147c provides business owners with the information they need to correct errors regarding mismatches between business names and the corresponding EIN or TIN. When businesses set up multiple corporate entities or TINs, banking information sometimes goes under reported. When total receipts on 199 forms received by those companies do not match the company's own reported figures, the IRS can withhold 28 percent of credit card revenue, as of Jan. 1, 2013.

Errors corrected by use of Form 147c are sometimes very small. A difference as small as an added or omitted period or comma or a slight misspelling can cause a mismatch between the records of the IRS and those of a company's credit card processing company. Using Form 147c to match the TIN with the company name and TIN used by the credit card processing company lets business owners correct any errors.

The IRS does not provide access to Form 147c information online for security purposes. Instead, business owners must call the IRS and request that the form be sent to them.

Learn more about Taxes

Related Questions

  • Q:

    Where can you find mailing addresses for the IRS?

    A:

    The Internal Revenue Service's official website, IRS.gov, publishes a directory of addresses for taxpayers and tax professionals sending paper returns. The address used depends on the sender?s location and whether the return includes a payment.

    Full Answer >
    Filed Under:
  • Q:

    Is it free to file federal taxes online?

    A:

    There are several online services that allow taxpayers to file their federal income taxes for free; the Internal Revenue Service offers a tax preparation service that is free for almost everyone. This service is called Free File.

    Full Answer >
    Filed Under:
  • Q:

    What is an IRS 1040 Form?

    A:

    An IRS 1040 Form is one of the official forms that taxpayers in the United States can use to file annual income tax returns, according to TurboTax. There are three versions of this form: 1040, 1040A and 1040EZ, reports the Internal Revenue Service.

    Full Answer >
    Filed Under:
  • Q:

    Where do you mail an IRS 1040 form?

    A:

    As of 2014, eight different IRS Service Centers receive 1040 forms filed by taxpayers and tax professionals, including addresses in Missouri, Texas, California, Kentucky, North Carolina, Ohio and Connecticut. Residents who file Form 1040 send this document to a particular service center based on the state in which they live. Street addresses are not needed on envelopes.

    Full Answer >
    Filed Under:

Explore