Help with PayPal Withdrawal

[Cynical]

Thanks so much in advance for taking the time to read and possibly help. It means a lot to me.

I do an online business which doesn't have anything to do with eBay. I get paid by my business partner in BTC, and someone I met online sends me money through PayPal to my personal account.

I've only started this recently - and I took in two payments of $1000 USD each as friends and family to dodge fees (dumb move... wasn't that experienced with PayPal). PayPal put limitations on my account (it's not linked to eBay or anything like that) and is requesting that I verify my identity. Obviously, I can't do that since they would figure out that I'm under 18 and close my account.

I'm not sure what to do anymore. I have $3,600 in that account, and my account is under my own name and linked to my personal bank account.

My bank withdrawal has been stuck on "pending" for one day, and I'm not exactly sure what these limitations restrict me from doing.

In any case, basically, all I need to be able to do is receive money from another account (I'll get them to send as goods and services in the future) and then withdraw to my bank account.

I'm on track to earning about $60,000 for next year. I'm willing to buy stealth accounts, but I don't know how to avoid the "IRS" or tax thing that everyone has been talking about.

TL;DR:
- I'm under 18, registered an account under my own name and my account's limited with $3600 in it. Am I still able to withdraw?
- I still need to receive daily payments of about $1000 USD and withdraw it to my bank account. Should I set up stealth accounts? The total value that I will receive from another user is well over $50,000.
- What's the tax thing, and how do I avoid it?

[drphilofebay]

What you wanna do is get a ⊗⊗⊗⊗ ID from SecondEye, then you wanna open stealth accs if that fails (even if it doesn't.).

[OFFICE]

SecondEye does great work. Quick and affordable.

[bman707]

Like others said it’s the way to go and setup stealths also to divide the funds so not all of it is going to one Paypal keep up the motivation buddy

[avtobus]

keep in mind after you reach the limit of 2000 usd or so your account and being forced to submit the docs you are most likely be limited anyway, because of the so called "risky business model" - getting 2000 for a very short period of time for a baby account unless you provide a strong evidence - a powerful website or smth.

[rsot]

Welcome to the forum - all the best as you master stealth

[drphilofebay]

Originally Posted by avtobus

keep in mind after you reach the limit of 2000 usd or so your account and being forced to submit the docs you are most likely be limited anyway, because of the so called "risky business model" - getting 2000 for a very short period of time for a baby account unless you provide a strong evidence - a powerful website or smth.

Not sure what you're talking about, EU has this, but most non-EU/US countries don't.

[Leader2dark]

If you are looking at 60k profit per year, find a way to go legit. Get a front man to "own" the paypal or whatever. LLC or some way to shield your identity from Paypal. Do your taxes, that much money won't go unnoticed forever.

[agent006140]

In USA,if you have 200 sales transactions AND $20,000,Paypal would send a 1099k to you and IRS,so you can report your earnings (loss).and it will need your SSN
You said you are under 18 and cannot comply with Paypal request for your ID,then your account will remain restricted until you reach 18.
So I would abandon this account,refund your buyers if you can and open a new account like the others suggest,you must be 18 or older to open a paypal account.

[agent006140]

Originally Posted by avtobus

keep in mind after you reach the limit of 2000 usd or so your account and being forced to submit the docs you are most likely be limited anyway, because of the so called "risky business model" - getting 2000 for a very short period of time for a baby account unless you provide a strong evidence - a powerful website or smth.

OP is in USA,there is no $2000 limit or 2600/2800 for Eu members,but Paypal has its own rules,he is underage and he is accepting high dollars .
You must be 18 to have a Paypal account

[agent006140]

There are other ways to receive payment of such size outside Paypal,you can ask for western union or bank wiretransfer or even USPS postal order,you can cash it at the post office,bring your ID.
WHERE Is your customer?