My paypal stealth account does not match the name i have on ein number. Got an email from paypal that irs informed that name on ein does not match with paypal 1099 which is true. My account is business account and I thaught the 1099 will be on my business name but it is not. Any help or advice for future account. following is the email from paypal:
Submit your W-9 information now
We contacted you earlier about updating your taxpayer information. We are requesting this action because the IRS notified us that the combination of your name and Taxpayer Identification Number (TIN) on your PayPal account does not match its records.
Currently, you cannot close your account because we haven't received your update yet. It's important that you submit updated W-9 information by 2014 or your account will be limited and you will not be able to receive any payments. You can download and complete the W-9 form easily and securely online or mail it in.
To get started, log in to your PayPal account and an alert will appear asking you to update your name and/or TIN.
The complete step-by-step guide to get back to selling today!
Sounds like you did not update all the info to the EIN business name when you added the EIN.
So fix your paypal account. Not anything else you can do. In the future, upgrade to business and change everything correctly.
Actually i did update the account with business info. But counld not change the individual name. Paypal ask for too much documentation. Is there any work arround.
Thanks
what needs to be change. I changed the business information but indiviual inforrmation could not be changed because of documentation asked by paypal.
Thanks
Lost me.
When you upgrade the paypal to business, ALL existing info goes away per say(still on file of course) and new Company Name, Address, tellephone, EIN is added.
You probably has to call PayPal and tell them your business name on their side is not updated and that's why it's not matching. Can't do it on the site now you gotta call, what yankee is saying that you need to do it right in the future, when you upgrade to business account is the only time you can change name in PayPal to business name.
You probably has to call PayPal and tell them your business name on their side is not updated and that's why it's not matching. Can't do it on the site now you gotta call, what yankee is saying that you need to do it right in the future, when you upgrade to business account is the only time you can change name in PayPal to business name.
got it. But you put your real name as you are banned. Should I put the indiviual name as the business name?
You put the BUSINESS name that you used to register that EIN NOT any individual name. You mentioned that you changed to business account so I hope you are using an EIN from a LLC and not a personal EIN. And also that the business name doesn't have any old banned name from the past
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