Please submit Tax ID information for your PayPal account.. safe ??
So, I got this email below.
From my understanding when you are on pace for either 200 items OR $20,000, they request this information.
In the past, as long as you didn't go over both 200 items AND $20,000, than your account is fine and you never need to submit this information. (On this forum, it seems like if you are close to $20,000, like $19,000, than they limit your account till you get this information).
My account is only 2 months old and has 170 sales but only $2,500 money wise. I will definitely go over 200 sales, but no where near $20,000.
My question is, as long as I do for example 500 sales and $10,000, is my account safe and I don't need to provide this information?
Because the way the email is written it seems like all accounts this is a requirement
Please submit Tax ID information for your PayPal account
To comply with the Internal Revenue Service's (IRS) rules, we ask that you
submit your Tax ID number to us as soon as possible. Your Tax ID number is
one of these:
- Your Social Security Number (SSN)
- Your Individual Tax Identification Number (ITIN)
- Your Employer Identification Number (EIN)
We are required to obtain tax ID numbers from all online sellers who
receive payments for goods or services through PayPal. If you do not
provide us with your Tax ID number, your account access will be limited,
and you will be unable to request or receive money. After you provide us
your Tax ID number, your account will be fully functional.
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