Forum

dec 26 deadline for ein number
 

ok,so if i do not provide a ein or ss number amazon will suspend my selling privlivges.the question is will they hold my money 14 days or 90 days?

90 days just to makes sure to cover all refunds if you have any.

It is really Fdup that it is either all or none with them on this. They put the threshold so low to force you to give your info. It should be when you hit 200 transactions But since bezo is a Greedy PR!CK it seems that amazon has something brewing in the wings with this...

They have something brewing alright. They will handle the collection of taxes for a fee of 2.9 % of the taxes collected.
In the Help section for sellers on Amazon.com, Amazon says the tax collection service is available to Marketplace Professionals and operators of Amazon Webstore e-commerce sites. A Marketplace Professional is any business or individual that sells 40 or more items a month on Amazon.com and pays Amazon a monthly selling fee of $39.99 plus other transaction fees. (Smaller sellers not classified as Marketplace Professionals pay Amazon 99 cents per sale transaction plus other fees.) Retailers that sell through their own branded Amazon-hosted Webstore e-commerce sites pay monthly fees starting at $24.99 plus transaction fees.

50 transactions thats aload of crap. hello,its supossed to 200.:doh:

Its 200 per the IRS requirement. Its up to all of the private businesses whether or not they decide to do it sooner or file 1099's for lesser amount.

I personally think that some of these will report ANY amount you make if you upgraded and called yourself a business. The 20k / 200 items is the requirement, nothing says they cannot or will not report lower than that.

I very much doubt that Amazon or PayPal (or any other processor) will report anything under the threshold to the IRS. All it would do is piss off their customers. That does not benefit them in any way.

I believe that they are just erring on the side of EXTREME CAUTION when it comes to complying with the IRS new rules.

If they make a mistake and end up not reporting something they SHOULD HAVE reported (and that WILL HAPPEN given their volume) then they need to be able to show the IRS that they made a good faith effort to be in compliance with the new rules. And asking for the information at 199 items probably wouldn't do it.

Having said all that, I'm sure that Amazon and PayPal are looking at this as an opportunity to improve their security measures.

Here goes a good article about the whole ebay/paypal/amazon tax ssn requirement


EcommerceBytes Blog by Ina Steiner

Few weeks before it was:

"your selling privileges will get suspended until you provide such info" meaning you could enter it later and reinstate your privileges.

now is:

"your selling privileges will be suspended if you DO NOT provide the info before Dec 26" Means: good bye.

My bet: Just provide Amazon with the magic number and keep selling, paying taxes is not too bad. We have 2 choices, make some money and pay or not make any money at all.

Pre-holiday screening was kick after kick in the balls for me, but I am well prepared for the second round coming Dec 26. The good part after all, survivors will face less competition and more profits and expect another 12 months of life.

Good luck to everyone and all stealth account holders, be grateful for all what you have sold and earned. Give your money a good use or invest it.

I heard in 2013 all sellers may face tax withheld, so I am out after this point.

Happy holidays.

I am confused about one thing ..is it 200 items or 200 transactions.
For example one transaction can have 10items sold.
Please clarify.
thanks.

Can anyone tell me about the tax change (Dec) in regards to foreign Amazon sellers. I am very curious, as some of my competition is foreign. I have heard it is 30% but an unsure if it is in effect now or comes about in December. I'd appreciate any info on the subject....

It's 200 transactions. Apparently Amazon is counting transactions as this: sell an item - one transaction. Do a disbursement of the money from that sale - two transactions.

So if you do 200 sales, and disburse your money into your account from Amazon for those 200 - that's considered 400 transactions.

Which I think is BS. Personally.

i seriously doubt that those 2 would constitute 2 transactions.

Help with EIN requirement
 

A few years ago I got closed down by Amazon for doing something I shouldna. Learned my lesson and got back on by using a friend's address and a DBA. Things have been going great, and I figured that by using an EIN instead of my SSN they wouldn't link back to my previous (real) identity. But I just went to give Amazon the information, and they want my tax reporting information as on file with the IRS - not just my DBA but my name and address. I don't think I have time to create a new address and get it on file with the IRA, let alone a name! Anyone have any idea how to get around this?

That's what someone clarified on a message board there - after speaking to an Amazon rep.

once you supply the info and down the line your account gets closed then you are back to stealth mode. Amazon loves shutting down accounts...

Instead of just saying what you saw on a message board somewhere. wouldnt it be way more simple to just call amazon and ask them?????