have been askd for tax info on my stealth

[bluegrass1]

it has been almost a year now since they first asked for my tax number on my stealth then today i got a email saying they are requesting my tax info now when logging into pp i have 2 yellow boxes at top of page asking the same thing to avoid limitation provide tax info i am a long way from hitting 20k has anyone had their account closed or froze because not providing this info and is under 20k? i hate to lose this account it has a 5000/21,000 monthly limit not that i use it but its been a great account any help people?

[eColi]

Are you talking about your PP that has a monthly limit? If you don't use it, leave it alone. They won't freeze it for a few months.

[bluegrass1]

yea pp is askingfor tax number been asking for almost a year now and hey just send me another request for it has anyone ever been shut down for not providing this?

[vogeltron]

Originally Posted by bluegrass1

yea pp is askingfor tax number been asking for almost a year now and hey just send me another request for it has anyone ever been shut down for not providing this?

Yes, last December my PayPal sales hit about 18.9k and I was restricted from receiving payments and closing the account. It was reinstated at the end of Jan. However this was an account I have had sine about 2008 so I have a history with PayPal. If you push it too far to early with a new account you might end up not getting it back. Even for me it happened in Dec if you have sales early in the year over like 10k and and you did a monthly projection assuming they would remain the same. I would expect and limitation sooner than later. Spread them out over the year. Have multiple accounts. If you sell to much on one shut it down for a while and sell on a different one. Also my advice is not to help anyone dodge taxes. It is to help people run as many stealth accounts as possible without interruption. Check with your CPA regarding all that stuff if you have income then you are liable for what your earn stealth account or not.

[Sandy D]

Spreading sales over many accounts is wise and limits your risk down.

What I do is run a group this week, then another group the next week, then another the next week etc.

Spreads sales and limits the risk and still able to sell as much if not more by spreading sales of same or like products around.

[vogeltron]

I agree, I advise creating a spreadsheet for every stealth you have and plug in the sales from the paypal monthly reports for each one. Keep it up to date and it should help you know which account you can sell more on and need to back up on. As always this not a dodge US Tax advice it is how to sell using stealth without having the new IRS limits shut down your PayPal.

[bluegrass1]

anyone use ein on a stealth acc?

[vogeltron]

Originally Posted by bluegrass1

anyone use ein on a stealth acc?

You have to use your real name even if you have an EIN. When you get your 1099k from PayPal it has your name not any business name on it. You could use the stealth method to clean everything up. Maybe get a Mail Box in another city but you have to use your real name or maybe a variation. Johnathan instead of John or something along those lines. Unless somebody calls eBay/PayPal up and somehow gets a corporate account like a major retailer would have you are stuck giving out that info. If someone has gotten around that it would be a cool story to hear.

[GhostRyder72]

ok let me ask this question here about real name.

For a business dba account where it asks for contact person....this is where you need to have your real name?

When I made my account some months ago I put in a variation of my name...Real first name partial last name...leaving off the last few letters of the last name.

Is this something I should change the to my full last name? Or is it too late to this account?

Thanks

[rsot]

Originally Posted by bluegrass1

anyone use ein on a stealth acc?

Lot of posts about use of EIN - worth searching the forum and reading threads