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0/0 limit changed to 500/$50,000
 

I've created stealth accounts before and none of them had any issues until recently I got one with the dreaded 0 item/0 dollar limit. I'd read through the forum and noticed a lot of people were saying to just call them and see what happens. Unfortunately, I can't do that because I have social anxiety and it comes with a pretty severe phone phobia. I don't talk to people I know so there's no way I could call up eBay. I'm also a bad liar and even if I got up the nerve to call them, I'd be stuttering through the whole phone call and would probably end up just hanging up on them. So, I just decided to toss that account and start over.

But the morning after, something made me go back and look at the "Request higher selling limit" page and that's when I noticed that you didn't have to call them. You could just answer some questions, which I did and then it said they would contact me within a few hours after they investigated my info. I figured I was toast after reading that. By the next morning, I still hadn't received an email from them but I logged in anyway and lo and behold, I had a 500 item/$50,000 limit. I was ready to throw that account away and then to see that? :noidea:

Not sure what happened but I'm just gonna ride with it as long as possible. So, before you toss an account, you should at least try to see if you can get the limits raised.

Re: 0/0 limit changed to 500/$50,000
 

Out of curiosity how could you answer the questions if it is a stealth account?

Re: 0/0 limit changed to 500/$50,000
 

sorry to hear about your social anxiety hun, that really cannot be a nice thing to have.
You should try force yourself to go outside more in public or it may get worse :noidea:

But anyway its really good to hear you got a nice raise on your account, not everyone is so lucky that easy :dance:

Nurture it & Enjoy it

Re: 0/0 limit changed to 500/$50,000
 

Because the questions were pretty easy. I have a made up business and the name, address and phone are the same info I created the ebay account with. So, I just repeated that info and added a EIN.

Re: 0/0 limit changed to 500/$50,000
 

Thanks. Unfortunately, I'm kind of tethered to the house by more than my social anxiety. I also have 2 kids with Autism and I'm a single parent so it's just us at home. We're together 24/7 and they don't like being around people either. So, we pretty much just do grocery shopping and doctor appointments.

Re: 0/0 limit changed to 500/$50,000
 

So it really is not a stealth account at all if you added an EIN.

This is not exactly easy for most people.

Re: 0/0 limit changed to 500/$50,000
 

Why not? There are people on here with dozens of EINs (or more). It's not hard to do.

Re: 0/0 limit changed to 500/$50,000
 

I am one of those people......

Because registering an EIN in most states is several hundred dollars to a couple thousand dollars.

You will not find a single thread that states to add an EIN right away and absolutely never on a 0-0 account. Although it worked this time, it could have easily not worked and most likely will fail more than will work.

That is why.... Most people dont want to risk EINs and the expense that goes along with them on 0-0 account or any account that does not absolutely require it.

Re: 0/0 limit changed to 500/$50,000
 

Several hundred dollars? I've never paid anything for an EIN.
Are you talking about forming a corporation?

Re: 0/0 limit changed to 500/$50,000
 

When you get a ein you are supposed to register that biz with the state . I have never done that but that is where the fees come into the deal.. I have tried to find out a few times if registering ein with state is a must .. My thoughts was i was going to open a biz got my ein then when the state wanted to charge me all these fees i gave up on my biz venture ..

Re: 0/0 limit changed to 500/$50,000
 

Oh, ok. I got my first EIN probably 12 years ago and I've gotten several since then and I've never had the state say anything. Of course, some of those didn't have completely accurate information. I did have a couple of legit businesses that I got DBAs for but that costs $50 here. I know if you're going the LLC route, there's more involved.

Now, if you want to be contacted, then you should get a reseller certificate. If the Dept of Revenue doesn't hear from you every few months, they will call you up. Not sure how other states are but they're pretty diligent here.

Re: 0/0 limit changed to 500/$50,000
 

WO i am pretty sure you need to make your ein llc its free too otherwise pp can see the name linked to it ."Someone correct me if i am wrong on this " When you make a llc you enter a biz name and thats what pp see's /// Also always want to give real info when making ein this part you dont fudge around with .. .

Re: 0/0 limit changed to 500/$50,000
 

Well, npt much of this makes any sense. You can only have ONE EIN in a DBA. All others must be in a company or some sort. It just is not possible to have more than one EIN without selecting a LLC, Corp, Trust, partnership etc...

Also, without registering with the state, how are you paying your taxes with the 1099s going to all these EINs never properly created?

Re: 0/0 limit changed to 500/$50,000
 

I'm not sure if you understood me because I never said I had more than one EIN per DBA. Also, it is possible to get more than one EIN without selecting any of things you mentioned. You can get your EINs as sole proprietorships. As far as I've seen, there's no limit on the number they will give you. You just make sure each one has unique information. That's what I use to set up most of my stealth accounts and I've never had any issues.

And everything I've said is concerning selling online (Amazon, Ebay) and the rule for receiving a 1099 is 200 items/$20,000. If you don't exceed the limit, you don't receive a 1099. If you did exceed it, the 1099 comes from whatever platform you were selling on, not the state. Of course, even if you make way less than that and never receive a 1099, by law you're still supposed to report it to the IRS but that's probably not something every stealth account holder is concerned about. Although I know some are.

ETA- I realized that it's possible that you're talking about state taxes, not federal. I live in a tax free state so that wouldn't apply to me.

Re: 0/0 limit changed to 500/$50,000
 

Nowhere on irs.gov when registering for a (free) EIN did it day registering with the state was necessary. Infact sole propriatorships and work from home were all options when selecting an ein.

I thought it said one EIN per person originally, but it was one EIN per person PER DAY

Re: 0/0 limit changed to 500/$50,000
 

Correct.

ONE EIN for sole proprietor in a lifetime. Just one.

and if you dont register with the state, how are you going to get checking accounts and pay your taxes? I mean, it is IMPOSSIBLE to open a business checking account without registering with a state once you use up your single lifetime Sole Proprietor(and I have no idea why you would want one. Most taxed entity and 100% liability)

You have to use you brain when dealing with this stuff. 1099K are no joke five years down the line if you did not file your taxes under them.

Re: 0/0 limit changed to 500/$50,000
 

So, you could have 365 EINs a year. That's a lot of stealth accounts.

Re: 0/0 limit changed to 500/$50,000
 

Why in the world would anyone add an EIN to an account that you dont plan on collecting any significant amount of money on? Rhetorical.

Re: 0/0 limit changed to 500/$50,000
 

Sorry, that's not correct. I have several. Heck, I've gotten 4 this year alone.

Re: 0/0 limit changed to 500/$50,000
 

Technically you can have more. ONE TYPE per day. You can create a Trust and Corp in the same day as an example.

Re: 0/0 limit changed to 500/$50,000
 

................So what is it? You only have one as stated about or you opened 4 this year alone.

No need to reply.

Re: 0/0 limit changed to 500/$50,000
 

Just to clear up these miss truths.

https://www.irs.gov/pub/irs-pdf/p1635.pdf

Re: 0/0 limit changed to 500/$50,000
 

I said I've only had 1 EIN?

Re: 0/0 limit changed to 500/$50,000
 

From the brochure/document you attached:

Effective May 21, 2012, to ensure fair and equitable treatment for all taxpayers,
the Internal Revenue Service will limit Employer Identification Number (EIN)
issuance to one per responsible party per day.

This probably is intended to apply to accountants, cpa's, lawyers who set up corporations, who would have reason to obtain multiple EIN's for clients.

Also:

You should have only one EIN for the same business entity.

I have multiple EIN's, one for each business I have owned in the past, and one for each business I own now.

In my state, there is no requirement to register an EIN with the state, although it may be a part of various documents submitted when creating a corporation or other artificial persons.