Existing account requiring SS

[js.ab]

So I haven't seen too much information on this, but it's been mentioned around the forum. The new $600 policy is in effect for 2022. Does that mean existing stealth accounts are screwed? Or can I put a valid SS there, but which does not match the information on the account?

What can I do to release the hold from payout? I bought the account from a seller here and it is a personal stealth, not business. Seller did not provide me the SS, but everything else has been fine up until this year.

[agent006140]

You cannot use other people SSN,it is against the law,also if that person owes IRS money,IRS will take your money .

The new $600 policy has nothing t o do with your ability to withdraw fund?
you need a bank account for MP to transfer your sales proceeds to your bank account

[js.ab]

Originally Posted by agent006140

The new $600 policy has nothing t o do with your ability to withdraw fund?
you need a bank account for MP to transfer your sales proceeds to your bank account

Right I already have th ability to withdraw funds. Managed Payments exist on my account.

However, they are asking me to submit a SS in order to receive the rest of my funds. What is the best course of action now?

[mark2be]

What doller amount in sales did you hit request for full social security number?

[Roy3805]

Stealths are screwed unless you have a LLC or you have a strong relationship with a friend or family member for them to give you their full SSN or Tax number and on top of that they have to report the sales on their taxes. There’s going to be a lot of identity theft going on now on selling platforms now if you want to remain stealth. Goodluck

[rsot]

LLC EIN option available to you OP?

[thepianoman]

Originally Posted by rsot

LLC EIN option available to you OP?

Even with LLC/EIN ebay still wants SSN dob and name all matching in stakeholder info. Oh and if the ssn, dob and name isn't yours then the 1099k will be sent to that person since single member LLc's are pass through entities.

[rsot]

Originally Posted by thepianoman

Even with LLC/EIN ebay still wants SSN dob and name all matching in stakeholder info. Oh and if the ssn, dob and name isn't yours then the 1099k will be sent to that person since single member LLc's are pass through entities.

Thanks for clarifying

[solefoodbk]

Originally Posted by thepianoman

Even with LLC/EIN ebay still wants SSN dob and name all matching in stakeholder info. Oh and if the ssn, dob and name isn't yours then the 1099k will be sent to that person since single member LLc's are pass through entities.

Are you sure? Even if its a pass through, if reported via EIN not SSN it should still show business name. If it is reported properly under the EIN.

I have never received a 1099k from eBay yet, just going off Paypal.

[ghackett5]

Originally Posted by solefoodbk

Are you sure? Even if its a pass through, if reported via EIN not SSN it should still show business name. If it is reported properly under the EIN.

I have never received a 1099k from eBay yet, just going off Paypal.

Im trying to pm you but it says your inbox is full

[agent006140]

Ebay will be sending 1099K starting with 2020,as MP replaces Paypal

[yankee]

Originally Posted by agent006140

Ebay will be sending 1099K starting with 2020,as MP replaces Paypal

MP has been round since 2018 and has been sending 1099k since then..... Why do you always type about things you are clueless about? Why does your post count matter so much to you? Rhetorical of course.

[purposeremo]

Originally Posted by solefoodbk

Are you sure? Even if its a pass through, if reported via EIN not SSN it should still show business name. If it is reported properly under the EIN.

I have never received a 1099k from eBay yet, just going off Paypal.

no it will be rported through your SSN still not ein because single member llc's are pass through entities so they want your ssn ran for a 1099k.
There are people talking about getting a s corp set up or something that Idon't know if will work or if ebay will check public available info to see who owns the LLC.

[foremost]

yeah, USA account does require owner/director SSN even if you are business account and provided EIN. And all have to be real info. the stealth is dead and the business world is crazy.

What the hack Business means? if you have to give out all your real info. why we need a business? everything is out of control

[ebaystealth1974]

Originally Posted by purposeremo

no it will be rported through your SSN still not ein

Stop saying this. It simply hasn't been true in previous years on every third-party payment processing platform there is, and until someone can verify that eBay sends 1099 to the SSN instead of EIN, we can only logically believe it is still the same way.

I mean, why ask for the EIN if they aren't gonna use it?

And like I said in the other thread, I'm exponentially beyond $600 in sales and they still only have the last 4 of SSN. The tax information request goes out right around $600, so I can only assume they aren't going to ask for it (because they already have the EIN). And how the hell are they going to issue a 1099 to an SSN they don't have??

Oh that's right... they aren't! It will go to the EIN just like it has/should.

Again, directly from the website... this is like the 3rd place on the site I've found this identical information, and the 2nd time I've shown you.

Originally Posted by The Horse's Mouth

I’m a registered business. Do I still need to provide my Taxpayer Identification Number?
Yes. If you’re selling as a business entity (sole proprietor/single member LLC, corporation/multi member LLC, partnership), you’ll need to provide the following:

Individual identification information for beneficial owners, officers, directors, or account managers
Legal business name
“Doing Business As” (DBA) name (if you have one)
SSN, ITIN or Employer Identification Number (EIN)
Business address
Phone number

[purposeremo]

Originally Posted by ebaystealth1974

Stop saying this. It simply hasn't been true in previous years on every third-party payment processing platform there is, and until someone can verify that eBay sends 1099 to the SSN instead of EIN, we can only logically believe it is still the same way.

I mean, why ask for the EIN if they aren't gonna use it?

And like I said in the other thread, I'm exponentially beyond $600 in sales and they still only have the last 4 of SSN. The tax information request goes out right around $600, so I can only assume they aren't going to ask for it (because they already have the EIN). And how the hell are they going to issue a 1099 to an SSN they don't have??

Oh that's right... they aren't! It will go to the EIN just like it has/should.

Again, directly from the website... this is like the 3rd place on the site I've found this identical information, and the 2nd time I've shown you.

okay good news this is from before you told me.
I hope this is true because if it is me and so many people are going to attach friends and families SSN's and our EIN's to cover for stealth. I thought after reading Gotya108 posts, the 1099k would process under the ssn info or somehow be reported to the ssn with the IRS

[ebaystealth1974]

Originally Posted by purposeremo

I hope this is true because if it is me and so many people are going to attach friends and families SSN's and our EIN's to cover for stealth.

SSNs are used to file for EINs, EINs are tied to LLCs, LLCs are tied to names... blah blah blah. With organizations such as LexisNexis at eBay's disposal, this stuff is easily verifiable. If it doesn't match, I imagine they'll let you know. I've never entered mismatched info, so I have no idea what really happens.

Go ahead and use someone else's SSN and your EIN, then let us know if it works. I can't imagine that it would.

[purposeremo]

Originally Posted by ebaystealth1974

SSNs are used to file for EINs, EINs are tied to LLCs, LLCs are tied to names... blah blah blah. With organizations such as LexisNexis at eBay's disposal, this stuff is easily verifiable. If it doesn't match, I imagine they'll let you know. I've never entered mismatched info, so I have no idea what really happens.

Go ahead and use someone else's SSN and your EIN, then let us know if it works. I can't imagine that it would.

ahh so stealth is still dead.

[ebaystealth1974]

Originally Posted by purposeremo

ahh so stealth is still dead.

There's really no need for stealth, if you have a viable business model.

Create an LLC, get an EIN and business bank account, sell non-shady sh!t and have good business sense/tactics/customer service.

[purposeremo]

Originally Posted by ebaystealth1974

There's really no need for stealth, if you have a viable business model.

Create an LLC, get an EIN and business bank account, sell non-shady sh!t and have good business sense/tactics/customer service.

Well in that case people can have up to 5 individual accounts according to yankee.

[ebaystealth1974]

Then do it. Stealth accounts are primarily for people that suck at maintaining accounts because of various reasons. Or want to avoid taxes, which basically just got shut down lol.