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  #1  
Old 04-15-2011
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Exclamation SSN/EIN Amazon - Its Official..2012..

Dear XXX,

We're writing to let you know about new Internal Revenue Service (IRS) regulations that may impact your seller account.

Beginning with the 2011 tax year, new IRS regulations require that U.S. payment processors, including Amazon, file Form 1099-K for sellers that exceed $20,000 in gross sales and 200 transactions in a calendar year. The regulations also require that all registered sellers (regardless of account status and sales volume) have taxpayer identification information on file in order for backup withholding not to apply on gross sales.

(read above guys)

As a result of the new regulations, Amazon.com sellers will be required to provide taxpayer identification information to Amazon. If the required information is not provided to Amazon in 2011, your Amazon selling privileges will be suspended until you provide the information.

(not sure when?)

We are committed to making this process simple. In the coming months we will provide instructions on how to enter the required information directly into your seller account. To help protect the security of your taxpayer identification information, we will not ask you to disclose it by e-mail or over the phone.

(Coming months sounds goods right?)
See answers to frequently asked questions and check back occasionally for updates:
https://sellercentral.amazon.com/gp/help/200663290

Learn more about the regulations and Form 1099-K at the IRS website: Final Regulations on Payment Card Reporting

Important Notice: Information in this document does not constitute tax, legal, or other professional advice and must not be used as such. To find out how this new legislation will affect your business, or if you have other questions, please contact your tax, legal, or other professional advisor.


Best regards,

Amazon Services
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  #2  
Old 04-15-2011
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In the coming months we will provide instructions on how to enter the required information directly into your seller account.

Let's see what happens.
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Old 04-15-2011
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Really no way to tell. But it sounds like they are not set up for it yet, which is a good sign, if only a temporary reprieve. These emails have been going out for awhile.

There will be a workaround. However, it most likely WILL make setting up a stealth account a little more complicated and a little more expensive.
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Old 04-15-2011
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Quote:
Originally Posted by jeffweico View Post
There will be a workaround. However, it most likely WILL make setting up a stealth account a little more complicated and a little more expensive.
What kind of workaround are you thinking about, Jeffweico?
At this moment I can think only of EINs...
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Old 04-15-2011
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Quote:
Originally Posted by jeffweico View Post
Really no way to tell. But it sounds like they are not set up for it yet, which is a good sign, if only a temporary reprieve. These emails have been going out for awhile.

There will be a workaround. However, it most likely WILL make setting up a stealth account a little more complicated and a little more expensive.
I'd most likley guess right after April 18th Tax day. There really is know way to have stealth/multiple accounts on amazon. All information submitted would have to be legit, and confirmed.

Im right in saying that ALL accounts will have to submit SS/EIN, whereas paypal would only want that info from some accounts, right.

I would also say that to open any new amazon accounts, you would have to submit name, bank, credit card, phone, and SS#, and they all have to be kosher........tall order indeed.

Oh well, it was fun while it lasted.
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Old 04-15-2011
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Can you imagine how much money, and how many sellers Amazon is gonna lose over this new requirement. Mind blowing.
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Old 04-15-2011
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EIN's are a part of it. But until we know exactly what will be required, it is impossible to say what the exact workaround will be.
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Old 04-15-2011
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Guys

There is a workaround

Amz has opened up it's international borders, as you can see I am based in the UK, but I am now selling on Amz.com, Amz.co.uk, Amz.de, and Amz.JP. There is also Amz France and Amz Austria.

All you need is a foreign bank account in one of the applicable countries, Canada for US could be good?.

Alot of people don't know you can do this, which is pretty cool, keeps the competition down
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Last edited by sax4; 04-15-2011 at 06:57 PM.
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Old 04-15-2011
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I would create some accounts now so they are up and running for a switch over at the end of the year
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Old 04-15-2011
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Quote:
Originally Posted by sax4 View Post
Guys

There is a workaround

Amz has opened up it's international borders, as you can see I am based in the UK, but I am now selling on Amz.com, Amz.co.uk, Amz.de, and Amz.JP. There is also Amz France and Amz Austria.

All you need is a foreign bank account in one of the applicable countries, Canada for US could be good?.

Alot of people don't know you can do this, which is pretty cool, keeps the competition down
Interesting proposal. I'll look into it. In a few months I'll be living in the European union for a couple of years, so that idea may not be that far off.
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Quote:
Originally Posted by jeffweico View Post
EIN's are a part of it. But until we know exactly what will be required, it is impossible to say what the exact workaround will be.
yeah, I agree Jeff. So far, no tells from Amazon. Could be anything under the sun.
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Old 04-16-2011
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Quote:
Originally Posted by cherrqell View Post
Interesting proposal. I'll look into it. In a few months I'll be living in the European union for a couple of years, so that idea may not be that far off.
Also Amz don't seem to care about you logging in from overseas IP addresses either, unlike Ebay.

DE is a nice market for shipping stuff from USA.
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Old 04-16-2011
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wouldn't shipping costs take a giant chunk of shipping overseas?
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Old 04-16-2011
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Anyone wanting to know more can PM me
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Old 04-16-2011
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Quote:
Originally Posted by Axcend View Post
wouldn't shipping costs take a giant chunk of shipping overseas?
Yes. But some items sell for a lot more in foreign markets.

Go to the USPS website and see how much it would cost to ship the item. The, look at the price in the country of the marketplace you wish to sell. Then, just do the math. Whether or not it is worth it depends on what you are selling.
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Old 04-18-2011
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Quote:
Originally Posted by jeffweico View Post
Yes. But some items sell for a lot more in foreign markets.

Go to the USPS website and see how much it would cost to ship the item. The, look at the price in the country of the marketplace you wish to sell. Then, just do the math. Whether or not it is worth it depends on what you are selling.
i find shipping items overseas takes way to long and unreliable since usps does not have a true tracking system.
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Old 04-18-2011
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Well standard Airmail from UK to USA for example takes on average 7 days, which isn't bad. You can always stipulate your shipping time in the description too.
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Old 04-29-2011
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Any updates on about when SSN will be required?

I bet at least half of sellers will disappear after they do that.
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Old 04-29-2011
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the idea really is to setup and use EU based accts with matching ips and sell in the usa.

then ship from within the usa. - if its ever quested as part of a tracking inquiry in an A-Z claim tell them the warehouse is in the USA for orders that are received there.
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Old 04-30-2011
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How do you set up EU accounts? any special requirement?


If you have warehouse in US, you need to pay tax to IRS.



Quote:
Originally Posted by newtools View Post
the idea really is to setup and use EU based accts with matching ips and sell in the usa.

then ship from within the usa. - if its ever quested as part of a tracking inquiry in an A-Z claim tell them the warehouse is in the USA for orders that are received there.
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Old 05-10-2011
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Quote:
Originally Posted by sax4 View Post
I would create some accounts now so they are up and running for a switch over at the end of the year

time wasting, since you login them after you will need to submit ssn info )
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  #22  
Old 05-11-2011
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Setting up European accounts is the same as you would set up a Amazon.com account, all details exactly the same, even ip.

Regarding the IRS thing with warehouses, i'm not sure about this. I don't deal in physical stock.
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