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-   -   Amazon Seller Tax Info (Sept 30 deadline) (https://www.aspkin.com/forums/amazon/51566-amazon-seller-tax-info-sept-30-deadline.html)

IronManWU 10-08-2012 03:16 PM

Amazon Seller Tax Info (Sept 30 deadline)
 
Hey guys,

Amazon had noted that sellers must enter their tax ID info by Sept 30 or else get suspended. I didn't add it to my account and so far have not suspended. Has anybody here been suspended yet for not putting in their tax id or was Amazon bluffing like last year?

Interested in hearing from others who may be in the same situation. Just want to see if Amazon really plans of suspending the users who don't put in the info.

Gamefreak 10-08-2012 05:46 PM

no one has been suspended yet of yet it seems...

MtnDew 10-08-2012 07:31 PM

are they still giving you guys disbursements? Just wondering if you guys are still getting paid?

JohnnyBoy 10-08-2012 09:02 PM

I first got the notification a year ago when I stopped selling, I started back and got the notification after I reached 50 sales. So far they keep bugging me about adding tax info. Haven't added it yet and I get the email every week but I haven't reached 200 sales yet.

IronManWU 10-09-2012 01:07 PM

Quote:

Originally Posted by MtnDew (Post 382454)
are they still giving you guys disbursements? Just wondering if you guys are still getting paid?




Yes, I had a disbursement on Oct 4 which showed up in my bank account on Oct 6.

I am nowhere near 200 sales yet (around 35-40 on this account) so maybe they're waiting until then to really demand the info or suspend the account.

It's a ghost account and I have LLC tax info ready either way, just wondering if the threat was real or not. I guess so far they haven't suspended anybody.

catdaddy 10-10-2012 01:35 PM

I had been wondering the same thing. Luckily it appears that it may have been the same stunt that they pulled at the end of last year - setting a date but never following through with suspensions. Hopefully they hold out until the end of year at least, though I don't understand the purpose of the ruse.

AmazonStealth 10-10-2012 02:08 PM

The rule went into effect last year, and by law it will officially go into effect one year from the date. So this year the hammer will hit hard, and most likely around Christmas.

DoubleA 10-10-2012 11:53 PM

Ive got this too. Just get an ein number and a forwarding address.

EIN number: legalzoom.com

Forwarding address, google purchase a forwarding address ( pick the best service)

AllAboutStealth 10-11-2012 04:56 AM

Tax info is the Social security number right?

user3657 10-11-2012 06:28 AM

If I enter info they wont report me till I hit 20/200 right? Im going to be no where near that......

KingDog 10-11-2012 01:23 PM

I never got the email????

AmazonStealth 10-11-2012 01:49 PM

Quote:

Originally Posted by angelosinc (Post 383030)
Ive got this too. Just get an ein number and a forwarding address.

EIN number: legalzoom.com

Forwarding address, google purchase a forwarding address ( pick the best service)

EIN should be through the IRS.gov

AmazonStealth 10-11-2012 01:50 PM

Quote:

Originally Posted by user3657 (Post 383090)
If I enter info they wont report me till I hit 20/200 right? Im going to be no where near that......

They can hit you with the EIN or SSN requirement whenever they want. And more than likely they will report any and all sales.

JohnnyBoy 10-13-2012 12:49 AM

knock on wood, i just got the email saying my selling privileges has been suspended until i provide tax info

update:
just logged in and added a new listing and didnt see any notification on my account about being suspended. although the email said I was suspended until I provide tax info.

justarslan 10-13-2012 03:30 AM

Quote:

Originally Posted by AmazonStealth (Post 383184)
They can hit you with the EIN or SSN requirement whenever they want. And more than likely they will report any and all sales.

This is not true. They will only report it if there are 200 orders and 20K sales. If you do not cross the limit, this message will appear in Tax Documents Tab in Seller Central "According to our records, your seller account did not meet both of the Form 1099-K threshold requirements of $20k of unadjusted gross sales and 200 transactions. No Form 1099-K is available".

user3657 10-13-2012 04:19 AM

Quote:

Originally Posted by justarslan (Post 383576)
This is not true. They will only report it if there are 200 orders and 20K sales. If you do not cross the limit, this message will appear in Tax Documents Tab in Seller Central "According to our records, your seller account did not meet both of the Form 1099-K threshold requirements of $20k of unadjusted gross sales and 200 transactions. No Form 1099-K is available".

I hope so...but paypal users reported getting a 1099 last year claiming they did not meet the threshold....and paypal is limiting if you get close this year....I gave in and gave amazon my info. first account so ill make it legit.

pidge90 10-13-2012 06:53 AM

Hello everyone, im a UK amazon seller, but around 2 months ago i opened a USA stealth account. When making the account i gave amazon all Stealth UK details like addresses and phone numbers. Yet they are still asking me now to register my tax with them.

Any ideas on what to do, because i cant really give them stealth details but also im not in USA so i dont have any american tax details as i only pay tax on UK seller accounts.

Any advice will help.

Thanks alot

rsot 10-13-2012 08:41 AM

@IronmanWU - did you submit the info? What happened?

Freshman 10-13-2012 09:18 AM

Did you guys receive this message already ? it happened for the first time today to all pro accounts
i wondering when there is a deadline to provide the info



Hello dear customer,

In accordance with Amazon policy, you are required to provide tax identity information for your seller account. Your seller account will be suspended if your tax identity information is not provided. Amazon requires tax identity information from the following sellers:
° All Professional sellers
° Individual sellers that reach 50 transactions in a calendar year, regardless of sales volume
To retain your selling privileges, enter your tax identity information using the short interview process available in your seller account. From the Settings tab, select Account Info and then click Edit in the Legal Entity section. Note that this interview can only be accessed by the primary user of your seller account.

To help protect the security of your tax identity information, do not respond to this e-mail with your tax identity information or share it over the phone.

You are still required to fulfill any orders that are in a shippable status in your seller account. Shippable orders have confirm and cancel buttons in Manage Orders.

If you have provided your tax identity information to Amazon in the last 24 hours, please disregard this message.

Search on "1099k" in seller Help to see answers to frequently asked questions about entering tax identity information and related topics.

Learn more about the regulations and Form 1099-K at the IRS website:

FAQs on New Payment Card Reporting Requirements

Important Notice: Information in this document does not constitute tax, legal, or other professional advice. 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

dancnbaby 10-13-2012 12:21 PM

I got that same email today. I was wondering if I really needed to put it in or not.

AmazonStealth 10-13-2012 12:36 PM

Quote:

Originally Posted by justarslan (Post 383576)
This is not true. They will only report it if there are 200 orders and 20K sales. If you do not cross the limit, this message will appear in Tax Documents Tab in Seller Central "According to our records, your seller account did not meet both of the Form 1099-K threshold requirements of $20k of unadjusted gross sales and 200 transactions. No Form 1099-K is available".

you are wrong

slim jim 10-13-2012 04:03 PM

please remember that the 200 and $20,000 rule is a general rule for online sales. amazon can do what they want as you SHOULD be paying your taxes regardless of whether you fall into the rule or not. this rule was just a start...

dancnbaby 10-13-2012 05:04 PM

In accordance with Amazon policy, you are required to provide tax identity information for your seller account. Your seller account will be suspended if your tax identity information is not provided. Amazon requires tax identity information from the following sellers:

All Professional sellers
Individual sellers that reach 50 transactions in a calendar year, regardless of sales volume



So I guess this has changed this year?? How long before they suspend has anyone found out? I have a EIN to use, but I am afraid to put it in and somehow get linked. They would only be able to link me by searching my LLC address, which I doubt they do, but I am still a little nervous about it.

tikade 10-14-2012 08:15 AM

I am from the UK and have just started selling a few bits on AMZ.com I have only sold around 10 used items around $380 and they are asking me for tax info , just been going through the interview now not finished it but I am confused with it :doh::doh::doh:

dannyacid1 10-14-2012 09:01 AM

I started a new account, its been around 2 months. The very sale was almost a hundred $ and I got account review crap, they say in performance I listed item against policy. It was a 2.00 phone case. Up till now, they haven't piad me a cent. Also so you know I'm on target with this tread . Ii got another drop mean as hell looking message : your selling prev. Are cut off until you submit tax info. I was ready did interview and listed more item. Following the insrutions in you book. Still no payment, also amazon keeps moving the payment date. Ie.. oct 5 payment. Nope they chaged to another week or more

IronManWU 10-18-2012 02:21 PM

Quote:

Originally Posted by rsot (Post 383615)
@IronmanWU - did you submit the info? What happened?


Hey. i havent submitted the info yet. Today they disbursed another payment for me and it will probably show up in my account Saturday.

AmazonStealth 10-18-2012 04:41 PM

Quote:

Originally Posted by IronManWU (Post 385154)
Hey. i havent submitted the info yet. Today they disbursed another payment for me and it will probably show up in my account Saturday.

You still need to pay your taxes. Amazon doesnt care if you do or not, but anywhere from 1-7 years later they can hit you with tax avoidance, and the compound interest rate plus what you owe will be insane by the time they realize you havent paid.

Lets say you made $30,000 is 2012, but didnt get caught until 2016. The interest alone you would owe would be a minimum of $66,327.45. And if the same happened in 2013, 2014, 2015, etc, you would easily owe several hundred thousand in interest alone. Have fun!

IronManWU 10-21-2012 04:48 PM

Well yeah I know I gotta pay taxes still. Just curious if and when Amazon will really hammer down

AmazonStealth 10-21-2012 06:16 PM

Quote:

Originally Posted by IronManWU (Post 386029)
Well yeah I know I gotta pay taxes still. Just curious if and when Amazon will really hammer down

The fact is they will, and it doesnt matter when, because you will have to pay no matter what. Amazon isnt what you should be worried about. Its the IRS

hapajenn1 10-21-2012 10:15 PM

So then some of you sellers have well exceeded the 50+ transactions threshold set by Amazon, and can still keep selling items without entering in SSN/EIN? Can an account sell over 200 items and still not have to report to Amazon the SSN/EIN?

AmazonStealth 10-21-2012 11:43 PM

Quote:

Originally Posted by hapajenn1 (Post 386079)
So then some of you sellers have well exceeded the 50+ transactions threshold set by Amazon, and can still keep selling items without entering in SSN/EIN? Can an account sell over 200 items and still not have to report to Amazon the SSN/EIN?

The hammer will hit many and hit hard this year. Most likely before or around Christmas time.


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