Amazon, and ALL other Payment Processing Companies, MUST have a SSN on file for EVERYONE who has $20,000/200 transactions a year in Sales in order to comply with the Law.
The "Trap" that is being set up here is that Amazon/Paypal and the rest will be that as soon as all those accounts that DO NOT have a SS# on file cross the $20,000 a year mark, they will get immediatly Frozen/Limited until you provide them with a SS#, and if you cannot give them a SS# whatever money they "Freeze" in the account is GONE. Be wary of this, It will Happen.
What Needs to happen in order to Avoid this is, Ebay, Amazon, and other selling Platforms must allow Sellers Their own Choice of Payment Processors, Which as of now does NOT seem Likely, However that may change if Amazon, Ebay, and others Experience SHARP Declines in Revenue because of this Law.
If this does happen, then you will be able to get a Payment processor based in another Country that will NOT Be required to report to The IRS. Therefore they will have no need for a SS#, and NOT Require it.
I went way over $20,000/year limit and never had them asking for my ssn.
The complete step-by-step guide to get back to selling today!
a EIN would do the same! and believe me its harder to verify.
EIN is only applicable if you have a Business Sellers Account, if you have a Personal Sellers Account Amazon will need your SSN at some point if you exceed the $20,000 a Year Limit set by law.
@Chaching--That Will change the new law Does not take effect until 2011.
or if you are a foreign who sell on Amazon.com, then you dont need a SSN!
So then we need all register business account (which is also the best way!) and we never need to think about the Slavery Number any more.
100% Correct and True in Amazon's case, But Paypal is Another Story, I Have 2 Business Accounts with Paypal and at some point I was asked to provide a SSN for each Account.
