Do I need a new EIN to avoid my paypal account getting linked to New Stealth Account? - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > eBay Discussion!

eBay Discussion! EBay Forum. News, Updates, or Anything eBay is Welcome. A kind of lounge if you will.

Reply
 
Thread Tools
  #1  
Old 07-09-2014
Subscribed [VIP]
 
Join Date: Oct 2011
Posts: 68
Thanks: 8
Thanked 3 Times in 2 Posts
Activity: 0%
Longevity: 64%
iTrader: (0)
Default 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
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 07-09-2014
Junior Member
 
Join Date: Apr 2014
Posts: 58
Thanks: 5
Thanked 2 Times in 2 Posts
Activity: 0%
Longevity: 45%
iTrader: (0)
Default 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.
Reply With Quote
  #3  
Old 07-09-2014
Subscribed [VIP]
Threadstarter  
 
Join Date: Oct 2011
Posts: 68
Thanks: 8
Thanked 3 Times in 2 Posts
Activity: 0%
Longevity: 64%
iTrader: (0)
Default 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
Reply With Quote
  #4  
Old 07-10-2014
aspkin's Avatar
Administrator
 
Join Date: Jan 2007
Posts: 10,802
Thanks: 2,909
Thanked 3,773 Times in 1,604 Posts
Activity: 47%
Longevity: 100%
iTrader: (25)
Default 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..

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

Notice: Do not PM me. I get too many PMs to answer.
Please go to https://support.aspkin.com and submit a ticket instead.
Reply With Quote
  #5  
Old 07-10-2014
Executive [VIP]
 
Join Date: Apr 2008
Posts: 1,814
Thanks: 454
Thanked 287 Times in 233 Posts
Activity: 0%
Longevity: 91%
iTrader: (2)
Default 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?
Reply With Quote
  #6  
Old 07-11-2014
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,090
Thanks: 407
Thanked 662 Times in 490 Posts
Activity: 0%
Longevity: 55%
iTrader: (0)
Default Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco

Quote:
Originally Posted by ovidiu View Post
Can't you close out old EIN's you were using on accounts that got canned?
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.
Reply With Quote
  #7  
Old 07-11-2014
Executive [VIP]
 
Join Date: Apr 2008
Posts: 1,814
Thanks: 454
Thanked 287 Times in 233 Posts
Activity: 0%
Longevity: 91%
iTrader: (2)
Default 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?
Reply With Quote
  #8  
Old 07-11-2014
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,090
Thanks: 407
Thanked 662 Times in 490 Posts
Activity: 0%
Longevity: 55%
iTrader: (0)
Default Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco

Quote:
Originally Posted by aspkin View Post
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..

And it's probably a good idea for other selling accounts to spread out your risk/sales..
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.
Reply With Quote
  #9  
Old 07-11-2014
Executive [VIP]
 
Join Date: Apr 2008
Posts: 1,814
Thanks: 454
Thanked 287 Times in 233 Posts
Activity: 0%
Longevity: 91%
iTrader: (2)
Default Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco

Canceling an EIN - Closing Your Account
Reply With Quote
  #10  
Old 07-11-2014
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,040
Thanks: 5,509
Thanked 9,028 Times in 7,038 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco

Quote:
Originally Posted by ovidiu View Post
No, I meant can't you close it out with the IRS?
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.
__________________
Ever look at someone and think WhyTF has no one hit you with a shovel yet?
Reply With Quote
  #11  
Old 07-11-2014
Executive [VIP]
 
Join Date: Apr 2008
Posts: 1,814
Thanks: 454
Thanked 287 Times in 233 Posts
Activity: 0%
Longevity: 91%
iTrader: (2)
Default 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.
Reply With Quote
  #12  
Old 07-11-2014
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,090
Thanks: 407
Thanked 662 Times in 490 Posts
Activity: 0%
Longevity: 55%
iTrader: (0)
Default Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco

Quote:
Originally Posted by ovidiu View Post
Agreed but it looks like it is possible. I will be starting a new LLC soon and we will see if anything happens.
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.
Reply With Quote
  #13  
Old 07-11-2014
Executive [VIP]
 
Join Date: Apr 2008
Posts: 1,814
Thanks: 454
Thanked 287 Times in 233 Posts
Activity: 0%
Longevity: 91%
iTrader: (2)
Default 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.
Reply With Quote
  #14  
Old 07-11-2014
Executive [VIP]
 
Join Date: Nov 2012
Posts: 3,090
Thanks: 407
Thanked 662 Times in 490 Posts
Activity: 0%
Longevity: 55%
iTrader: (0)
Default Re: Do I need a new EIN to avoid my paypal account getting linked to New Stealth Acco

Quote:
Originally Posted by ovidiu View Post
That's what I mean. I don't see why you can't discontinue using that one and start a new one.
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.
Reply With Quote
  #15  
Old 07-11-2014
Executive [VIP]
 
Join Date: Apr 2008
Posts: 1,814
Thanks: 454
Thanked 287 Times in 233 Posts
Activity: 0%
Longevity: 91%
iTrader: (2)
Default 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.
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Clean paypal linked to stealth ebay account Optimistic411 eBay Suspensions 4 04-11-2014 06:37 AM
Adding "linked" but new bank account to stealth Paypal? jhillman87 PayPal Talk 2 03-15-2014 02:53 PM
New Stealth Account - Will I be linked? biggunn Subscriber Discussions 11 03-26-2011 03:40 PM


Aspkin Group

All times are GMT -5. The time now is 05:40 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts