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Lyft LLC Tax Payout

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2 Driver
 Posted 1 week, 1 day ago

Hello, I am reaching out for some help. Earlier this year I created my LLC to put on my Lyft Driver app. I created the LLC with my state, applied for an EIN with the IRS and was given the 147C form after application. I have entered in all of my new business information in the Lyft Payout Section on the Dashboard. I received an error that "they are unable to verify the tax data, check back or contact lyft support." I have contacted Lyft support and supplied them with an SS-4 form and the 147C form from the IRS. At the time they were still unable to verify my tax information with their third party processor. 

I have entered, reentered and triple checked that the information I have input into the Payout section is correct. I am curious if the reason they are unable to verify the Tax Information is because it was only started a couple of weeks ago.

What is your advice in this scenario?

Also, I am now aware that Lyft doesn't deposit payments into a business account, how do I deposit funds into a business account? Would I create a regular checking account in my name rather than my business name and transfer my Lyft payments from the regular checking account into the business account.

I appreciate your support and would be grateful if you were able to help at all.

Thank you

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