Need Help - PayPal asking for SSN or EIN on Stealth

[Sumer]

Hi, I've been selling on this stealth for about 2-3 months and haven't been asked but last much I did a little more volume than I was planning and it must've triggered PayPal to ask for more info..

What are my options here? I haven't ran into this issue on my other accounts so I'm at a loss here.

[JamesNorth101]

You need to supply an EIN.

Lots of info on the forum about this if you have a search

[pokerpro]

How many items have you sold? or dollar amount?

[GreenBean]

Originally Posted by Sumer

Hi, I've been selling on this stealth for about 2-3 months and haven't been asked but last much I did a little more volume than I was planning and it must've triggered PayPal to ask for more info..

What are my options here? I haven't ran into this issue on my other accounts so I'm at a loss here.

If you read the forum, it is clearly stated that paypal ask for info on projected sales. This is waht has happened to your account.

You can resolve the issue with supplying EIN correctly.

[Sumer]

To supply paypal with an EIN, what do I need to do? Open a new company? An LLC is expensive to open up from what I know close to $400. What's the most cost effective solution? Thank you.

[pikachu10]

Sumer,

When you reach 200 sales and $20,000 in gross revenue, you have to file taxes. Most people on the forums keep themselves from reaching that amount on their accounts so they don't have to file taxes and go through a huge hassle of trying.

In the event they ask you for an SSN or EIN, go Internal Revenue Service and apply for an EIN online. Sign up as an LLC (you don't have to get a DBA). Make an EIN as an LLC, match the business name on the EIN with the PayPal business name registered on your account. If you have a personal PayPal for your stealth account, you'll have to upgrade it to a Business (which it automatically does when you choose an EIN). Once you get an EIN, which you can get online from the IRS, wait 2 weeks (because it has to ripple through the IRS system before the EIN registers). Two weeks after you've gotten the EIN, give it to PayPal. Then, track your sales and make sure you don't go over 200 sales and $20,000 gross revenue so you don't have to file taxes.

That's what you do. I suggest you read the stealth guide to learn more about stealthing.

[novemberrain1970]

I don't want to be the bearer of bad news and if I am out of line a Mod please tell me - but the info above is not correct in that whether you hit the $20K or not you are still responsible to pay taxes on your earnings in the US. I am not speaking for anyone else but that is certainly not why I have multiple accounts or keep the income to each low. It's simply to avoid PP BS nothing ille.gal or avoiding my responsibilities.

[keepongoing]

so u want an answer. huh? bail on the whole account while you can. get your money out of paypal and move on to a new account.

is that not the point of stealth. make money and keep moving forward. their algorithim software is a joke and Im sure they are getting heavy pressure about this, everyone wants their cut.

and good point novrain, spread sales with stealth and keep totals low every year.