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- Feb 22, 2010
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We are incorporating our business which was a sole proprietorship for the last 3 years. Our bank account is in our business name, but now that we are incorporated, the name change simply includes "Inc.". Would the IRS frown upon continuing to use this same bank account for the business (separate from personal) or are we required to open a brand new account, since we changed our business structure from sole proprietorship to S corp?