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Do I need a new EIN to avoid my paypal account getting linked to New Stealth Account?
 

I didn't see this in the ebay stealth book so I thought I would ask the question.

Like most people on here, my account got suspended indefinitely. I wrote the Ebay President and didn't have any luck getting my business account reinstated.

So I am trying to figure out the best way to start over with a Business Ebay and Paypal Account.

The holdup I am having is my EIN. I don't really want to start a new business if I can help it, because I would have to file for a new EIN and pay taxes on a separate business and technically keep my inventory, assets, etc separate from my current business that I use for Amazon, my website, and was used for my suspended ebay account.

I can easily create a new DBA for the Stealth Account, but I will still have to use the same EIN for a paypal account, so I am assuming they would get linked.

Anybody have experience in this area?

Any insight on ways I can start a new ebay Business Stealth Account would be great

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

You need to get cracking on your account's. Ebay does gives crap for limits when you first register. You may end up creating many accounts and not just 1. Don't put all your egg's in one basket with ebay.

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

I agree it probably isn't good to put all eggs in one basket, but I don't know that a bunch of small ebay personal accounts is going to be practical for me where I run a business.

I need to figure out some business solution to a Stealth Account, but the book doesn't go into much detail about running a ebay or paypal Business Stealth Account

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

Don't use the same EIN, you will get linked. Register for a new one.. you can get as many as you want and about your worries about taxes.. that's where good book keeping comes into play. You won't need to add your newly registered EIN right away either so when you finally do (at PayPal's request), it will be for a solid account you can invest in.. if that makes sense.

This time.. don't lose your account.. :p

And it's probably a good idea for other selling accounts to spread out your risk/sales..

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

Can't you close out old EIN's you were using on accounts that got canned?

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

If the PayPal is not limited technically you can close it out. I did this a few times years ago to recycle bank accounts for stealth purposes.

However, it is risk and may not work. It is always a roll of the dice. If you have outside of eBay sales with that PayPal account then it is probably not worth the gamble.

If eBay is your be all end all then you don't have much to lose. I would say if you do go this route. I wouldn't close the account one day then open a new one the next day and try to add the EIN to the new PayPal. That is something I would do 5-6 months down the line. Maybe even later.

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

No, I meant can't you close it out with the IRS?

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

This is actually a common fallacy. While true to an extent you have to be careful. The IRS actually says you are allowed one EIN for personal use. If you want to use more than one the business can not be registered as a sole proprietorship it is suppose to be a some form of corporation, partnership ,etc.

I know it hasn't stopped some individuals from getting more than one. But if you dig into what it says on the IRS website for personal purposes as a sole proprietorship you are only suppose to be assigned one.

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

Tax advice should be confirmed with a professional.

Too many variations of a seller's 'life' to be specific with info.

Internal Revenue Service


Good starting place to speak ( at no cost) to those in the know about taxes.

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

Agreed but it looks like it is possible. I will be starting a new LLC soon and we will see if anything happens.

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

You can not cancel an EIN with the IRS. When you register with them for it. It even says this on the form you print out. It does say that you are suppose to contact them if you plan closing your business and not using it anymore.

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

That's what I mean. I don't see why you can't discontinue using that one and start a new one.

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

Internal Revenue Service

Clearly states you are allowed 1 EIN for personal use i.e. Sole Proprietorship. If you have a Corporation or some other form of business entity then you can get another for each one.

Pretty simple to understand.

Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco
 

That's easy enough. So it allows for limitless LLC's for Paypal or Amazon use.