A Question For EIN Business Account Owners - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Platform Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 07-29-2014
Junior Member
 
Join Date: Jul 2013
Posts: 66
Thanks: 45
Thanked 18 Times in 12 Posts
Activity: 0%
Longevity: 62%
iTrader: (2)
Default A Question For EIN Business Account Owners

For the past 8 hours I have read archived posts about this topic and Google'd the topic too but there are still too many variations of answers instead of a simple solid answer.

I need to provide PP with an EIN number and upgrade my account to a business account.

Because I am blacklisted on eBay and PP I operate all stealth. The account I need to upgrade is stealth.

I'm confused about how far I need to go to use this EIN and then upgrade my PP account to Business.

I can get my EIN as a Corp. but do I also have to get a state tax payer ID and a state business license???

Regardless of whether I do or do not need all of this, I have read recent forum postings (from different forum sites) stating that PP still needs a responsible member of my corp.'s SS number as well as the EIN number. Is this true?

When I tried providing an EIN number on my PP update page it asked for the company name, the EIN AND the name of a responsible contact person or owner.

That's as far as I went with trying to provide this info to PP.

Before I do it again for real, I'm asking if after giving my stealth name as the contact will PP want that name's SS # too??? If so then I'm SOL.

There is no sense in going through all the hoops to get the EIN and all the rest if I still have to provide a valid SS number.

All advice appreciated.
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 07-29-2014
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,097
Thanks: 408
Thanked 668 Times in 494 Posts
Activity: 0%
Longevity: 66%
iTrader: (0)
Default Re: A Question For EIN Business Account Owners

There is debate about this. Personally I have not registered anything as a corporation. The EIN account I have is as a sole proprietorship.

What I can say. As long as the Business Name on the PayPal matches the name with the EIN registered with the IRS you are good to go.

The potentially bad news. At-least for sole proprietorships even when you give them a EIN. If you get a 1099k for exceeding the limits your stealth name is on the form filed with the IRS which can be a big no-no.

AS ALWAYS. Talk to an accountant.
Reply With Quote
The Following User Says Thank You to vogeltron For This Useful Post:
vetman90 (08-02-2014)
  #3  
Old 07-30-2014
Senior Member
 
Join Date: Jan 2014
Posts: 265
Thanks: 6
Thanked 29 Times in 28 Posts
Activity: 0%
Longevity: 59%
iTrader: (0)
Default Re: A Question For EIN Business Account Owners

Quote:
Originally Posted by vogeltron View Post
There is debate about this. Personally I have not registered anything as a corporation. The EIN account I have is as a sole proprietorship.

What I can say. As long as the Business Name on the PayPal matches the name with the EIN registered with the IRS you are good to go.

The potentially bad news. At-least for sole proprietorships even when you give them a EIN. If you get a 1099k for exceeding the limits your stealth name is on the form filed with the IRS which can be a big no-no.

AS ALWAYS. Talk to an accountant.

Hi All! I have similar concerns/questions. I already have legit account with ligit PP account where my SS number is given. My questions are:
1) Can I open a personal Ebay/PP account with new real name/address and provide EIN where required instead of SS number?
2) I have to use the EIN & sole proprietorship (busimess name) to open a the PP account? Also provide SS number? Your advice/input will be highly appreciated.
Reply With Quote
  #4  
Old 07-31-2014
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 75,855
Thanks: 5,926
Thanked 8,909 Times in 8,202 Posts
Activity: 99%
Longevity: 83%
iTrader: (7)
Default Re: A Question For EIN Business Account Owners

1) Don't use your real name.

2) Read the post above by vogeltron and few EIN posts around the forum.

If you have more doubts, consult a professional financial
Reply With Quote
The Following User Says Thank You to rsot For This Useful Post:
shani1212 (07-31-2014)
  #5  
Old 08-01-2014
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,097
Thanks: 408
Thanked 668 Times in 494 Posts
Activity: 0%
Longevity: 66%
iTrader: (0)
Default Re: A Question For EIN Business Account Owners

Quote:
Originally Posted by rsot View Post
1) Don't use your real name.

2) Read the post above by vogeltron and few EIN posts around the forum.

If you have more doubts, consult a professional financial
Not necessarily true about using a real name. It kind of depends on what you are doing LLC, Sole Propritoship, etc.

I have said many times. If you exceed the PayPal limits and get a 1099k with a "Stealth Name" on the account for sole proprietorship I don't know about Corporation. Your stealth name will be on the 1099k filed with the IRS not the business name. Don't know about you but I definitely don't want that problem.
Reply With Quote
  #6  
Old 08-01-2014
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,343
Thanks: 5,612
Thanked 9,142 Times in 7,106 Posts
Activity: 0%
Longevity: 96%
iTrader: (6)
Default Re: A Question For EIN Business Account Owners

Quote:
Originally Posted by vetman90 View Post
For the past 8 hours I have read archived posts about this topic and Google'd the topic too but there are still too many variations of answers instead of a simple solid answer.

I need to provide PP with an EIN number and upgrade my account to a business account.

Because I am blacklisted on eBay and PP I operate all stealth. The account I need to upgrade is stealth.

I'm confused about how far I need to go to use this EIN and then upgrade my PP account to Business.

I can get my EIN as a Corp. but do I also have to get a state tax payer ID and a state business license???

Regardless of whether I do or do not need all of this, I have read recent forum postings (from different forum sites) stating that PP still needs a responsible member of my corp.'s SS number as well as the EIN number. Is this true?

When I tried providing an EIN number on my PP update page it asked for the company name, the EIN AND the name of a responsible contact person or owner.

That's as far as I went with trying to provide this info to PP.

Before I do it again for real, I'm asking if after giving my stealth name as the contact will PP want that name's SS # too??? If so then I'm SOL.

There is no sense in going through all the hoops to get the EIN and all the rest if I still have to provide a valid SS number.

All advice appreciated.
to ensure you are fully covered at both Federal & State level, speak to a Tax Professional.

You can get assistance in creating everything correctly. Majority of the time, an SSN request might be avoided.

Line up all your ducks in a row.

Good Luck

Reply With Quote
The Following User Says Thank You to GreenBean For This Useful Post:
vetman90 (08-02-2014)
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Paypal Business Account Tax Question? kobedakid PayPal Talk 0 12-01-2013 02:24 PM
Business account question bazoil007 UK eBay & Paypal 28 02-18-2012 06:57 AM
paying others paypal owners with my stealth account mefromfl Paypal Limited 3 02-15-2011 11:12 AM
paypal business account question huyyy Australia eBay & Paypal 1 07-25-2010 11:06 PM
Merchant/Business Account question waterproof Subscriber Discussions 6 10-29-2009 07:06 PM


Aspkin Group

All times are GMT -5. The time now is 05:05 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58