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Old 10-17-2014
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Default opening a paypal account

I'm looking for a way to get around given paypal my SSN. I want to pay taxes but if I use my info the will close any account I open. If I use a EIN number can I get around this? How does a EIN number work?
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Old 10-17-2014
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Default Re: opening a paypal account

You get an EIN from IRS.gov and give them information about your business. It's pretty straightforward, it's free, and they do a pretty good job explaining things. The number will be visible to you seconds after completing the form online.

EINs are basically SSNs for businesses so it is an option if Paypal is asking for tax ID information. However you can avoid ever having to enter one by selling on multiple accounts and staying well under 200 transactions/$20,000 in sales per year if you want to go that route.
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Old 10-17-2014
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Default Re: opening a paypal account

EIN via IRS.gov website works well.

Otherwise you can spread out your sales over multiple accounts to lessen the chance of PayPal requesting a SSN/EIN.
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Old 10-18-2014
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Default Re: opening a paypal account

Quote:
Originally Posted by plumsake2 View Post
You get an EIN from IRS.gov and give them information about your business. It's pretty straightforward, it's free, and they do a pretty good job explaining things. The number will be visible to you seconds after completing the form online.

EINs are basically SSNs for businesses so it is an option if Paypal is asking for tax ID information. However you can avoid ever having to enter one by selling on multiple accounts and staying well under 200 transactions/$20,000 in sales per year if you want to go that route.


What info can paypal see? Can they see my real name or can they only see the business name?
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Old 10-18-2014
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Default Re: opening a paypal account

Quote:
Originally Posted by eencn9 View Post
I'm looking for a way to get around given paypal my SSN. I want to pay taxes but if I use my info the will close any account I open. If I use a EIN number can I get around this? How does a EIN number work?
You apply for an EIN.

However you can decide to make multiple accounts and spread your sales.

Decide from the start on a method.

Good Luck

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Default Re: opening a paypal account

Paypal would not see your real name, just the business name. Make sure the business name matches exactly.
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Old 10-20-2014
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Default Re: opening a paypal account

I tried applying for a EIN but i got this:


We are unable to provide you with an EIN.

We apologize for the inconvenience, but based on the information provided we are unable to provide you with an EIN through this online assistant.

Please call 1-800-829-4933 for assistance. When outside the US, call 267-941-1099. TTY/TDD: 1-800-829-4059.

Please have your information readily available, and mention reference number 101.


WHY????????????????????????????
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Old 10-20-2014
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Default Re: opening a paypal account

May be worth giving them a ring...

They are going to be in the best position to assist you.
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Old 10-22-2014
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Default Re: opening a paypal account

Some quick googling suggests it could be because of some sort of business name conflict (Fixing Problems with Online IRS EIN Applications ~ CPA at Law). Perhaps yours is too common? But yeah, only way to find out for sure is to call them.
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Old 10-22-2014
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Default Re: opening a paypal account

What about opening a bank account overseas. Does anyone know of any banks that could be a possible solution?? I mean I could open a paypal account as a foreign resident when I move but that requires a foreign bank to get deposits.
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Old 10-22-2014
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Default Re: opening a paypal account

And how would that accomplish anything?
If the account is based in the US youll need a US bank account to receive the funds. If the funds are received in the US bank account eventually youll need to pay taxes on them - theres no way around that part.
You have 2 options:
1. Get an EIN - and stop trying to play with workarounds because its pointless and a waste of time.
2. Spread your sales across multiple accounts so you never have to deal with the whole SSN/EIN situation to begin with.
I prefer solution 2 myself as I find it a LOT safer. That way nothing is ever reported AND as an additional benefit if one of your accounts is taken down youre still up and running. I operate 35 accounts at all times and rotate more of them in and out of active status every few weeks. Been working like that for years and never had an issue.
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