Paypal, IRS & newbie questions

[renzini]

Hi
I received this message on my Stealth PP account this morning.
I don't know what to do?
I'm close to the $20000 around $17000 and PP sent me this.
Please provide us with your tax ID number. Your tax ID number lets us send you Form 1099-K, as required by the IRS under certain conditions. Find more information about the new tax rules and why we need your tax ID at www.paypal.com/irs.

Can I open a business on to my name(legal), upgrade my Stealth paypal to a business Account, provide the new legal business EIN to them and still selling on my stealth eBay account without any pay pal or eBay restrictions?

This are two eBay power sellers accounts that I don't want to loose.

Please help

Thank you

[KingRay]

Originally Posted by renzini

Hi
I received this message on my Stealth PP account this morning.
I don't know what to do?
I'm close to the $20000 around $17000 and PP sent me this.
Please provide us with your tax ID number. Your tax ID number lets us send you Form 1099-K, as required by the IRS under certain conditions. Find more information about the new tax rules and why we need your tax ID at www.paypal.com/irs.

Can I open a business on to my name(legal), upgrade my Stealth paypal to a business Account, provide the new legal business EIN to them and still selling on my stealth eBay account without any pay pal or eBay restrictions?

This are two eBay power sellers accounts that I don't want to loose.

Please help

Thank you

Please do a search for this topic. Its discussed over and over again in detail. I am too lazy to type my super long posts again on this thread.


I am sure people are tired to spending so much time reading them. I kinda get long winded. Or I guess long handed??

[renzini]

Thanks king I found it.
I just have one more question

If I open a business do I have to put my real address or the address on my stealth account and get as mailing address my real one.
I never open a business so I don't know if PP will ask me for other extra info after upgrading to a business account. The only problem I see is address. I have a registered address on eBay and PP and that is somewhere around my real one, but I don't have access to this one. So it is possible to open a business in that address and receive all the paperwork in my realone?

Thanks for your help

[JRYAN34]

ya keep searching...