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Donation Request Form Centennial Bank

Donation Request Form Centennial Bank

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so a common question we get when people are setting up a payment account for a school is can I set that payment account up under my name and then just donate that money to the school now Phil what's your advice on that so we don't typically recommend that doing that route because if you set up um under your legal name and social security number then the 1099 K form will be sent out under your legal name and social Care number regardless if you donate the amount to the school so if you want to avoid that you should be setting up the payment account under the PTA legal name and Ein my advice would be to ask your school for their PTA account ask them for their PTA legal name and their Ein and then you can set up the payment account under that PTA account and when a 10 99k form is sent out it will be under the PTA legal name and Ein instead of your Social Security number and legal name so basically don't do that yeah don't set up the account under your name

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