Doesnt that limit apply only to ebay sales?
Not sure it applies to any type of payment one received into their account.
The IRS law is for CREDIT CARD PROCESSING. It does not matter if it it ebay, an invoice, website, etc...If you receive funds via a credit card, that is the IRS Law.
$20,000.00 and 200 CREDIT CARD transactions.
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My personal account is verified with a tax ID, just didnt know if there was a point where they make you turn it into a business account.
You can take in as much money as you want once you've provided a Tax ID on a personal account. Just keep in mind the income will be reported to the IRS..