Would i need a EIN if i'm doing a project for charity?
I am putting together a book that all the proceeds will go towards a charity. Meaning when i get my royalities from the book i will basically hand the check over to the charity. What would i need in order for that to happen? I don't want the IRS to think that it's income to me and i'll have to pay taxes for it. If the charity does not give me proof that i donated the money what would i do?
- ?Lv 71 decade ago
Not if the checks are made out to you. The EIN number is for opening a bank account in the charities name. Since you will be receiving the money and then forwarding a check to the charity you do not need a separate bank account. It is income and you will have to pay taxes but then you take the deduction for the donation. You will have big irs problems. You receive the royalties it is your income.
- David14Lv 71 decade ago
Don't worry. It's not income anyway...you don't need an EIN.