I am organizing a high school reunion in Westchester County, New York State and don't want to be financially responsible for the $25,000+ in deposits that will be made to a checking account that I need to establish to ultimately pay the costs of the reunion. The account will be closed once the reunion has passed.
Can I establish a bank account in a name other than my own? Should I get a taxpayer ID number in the name of the Reunion? I don't want to have to have related tax returns prepared.
Any insight into how this is handled would be greatly appreciated! Thank you.
Laura Santello