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-   Etsy Discussions (https://www.aspkin.com/forums/etsy-discussions/)
-   -   Tax ID information (https://www.aspkin.com/forums/etsy-discussions/126752-tax-id-information.html)

ashelizabeth 06-03-2019 04:51 AM

Tax ID information
 
Hi,

I got back on Etsy a year and a half ago with help from a wonderful person on this forum. My shop was always small... maybe a couple thousand a year, until just a couple months ago I added a specific seasonal item and have already hit the projection to go above $20,000 so Etsy has started asking for my tax info.

I planned on simply shutting down sales right before hitting the threshold, but I am only a few sales away from when they say they will freeze my sales without updating the tax info.

Has anyone had experience with how to go about this? My shop is direct checkout. I have read about using an EIN, but when obtaining the EIN I would assume I use my real info? I guess I am just a bit confused about keeping Etsy from linking me but still staying legal.. don't want to mess with the IRS.

My ⊗⊗⊗⊗ name on Etsy is my middle name plus a misspelling of my last name, not sure if that matters but I also read where Etsy may ask to verify info with the IRS if the name doesn't match and wonder if that would be simple enough to explain away to someone.

TIA for any info you have.

drBoB 06-03-2019 07:59 AM

Re: Tax ID information
 
Open new shop
or
pay your tax

phaz0rz 06-03-2019 08:11 AM

Re: Tax ID information
 
Quote:

Originally Posted by drBoB (Post 1007884)
Open new shop
or
pay your tax


Gee, what a helpful post. :nerd:

agent006140 06-03-2019 10:18 AM

Re: Tax ID information
 
is your concern of giving SSN -not want to pay tax or they will shut you down since it is linked to your old Etsy account?

agent006140 06-03-2019 10:20 AM

Re: Tax ID information
 
why not set up another Etsy shop and remove the hot items from your current shop now?

mfeijoo 11-13-2019 04:16 PM

Re: Tax ID information
 
Quote:

Originally Posted by ashelizabeth (Post 1007832)
Hi,

I got back on Etsy a year and a half ago with help from a wonderful person on this forum. My shop was always small... maybe a couple thousand a year, until just a couple months ago I added a specific seasonal item and have already hit the projection to go above $20,000 so Etsy has started asking for my tax info.

I planned on simply shutting down sales right before hitting the threshold, but I am only a few sales away from when they say they will freeze my sales without updating the tax info.

Has anyone had experience with how to go about this? My shop is direct checkout. I have read about using an EIN, but when obtaining the EIN I would assume I use my real info? I guess I am just a bit confused about keeping Etsy from linking me but still staying legal.. don't want to mess with the IRS.

My ⊗⊗⊗⊗ name on Etsy is my middle name plus a misspelling of my last name, not sure if that matters but I also read where Etsy may ask to verify info with the IRS if the name doesn't match and wonder if that would be simple enough to explain away to someone.

TIA for any info you have.

Hi there, what did you do? did you use your own SSN? I don't know if I can use mine or it can be linked to my banned account. I also got back on E t s y around 11 months ago and I already received 2 emails from them:

Congrats on the success of your Etsy shop this year! By the end of the year, it looks like you could surpass $20,000 and more than 200 sales, which is amazing. It is also the threshold at which the IRS requires us to provide more information about your business.

To make sure we can comply with these IRS regulations, we'd like to get this additional information from you now. Then as soon as you process more than $20,000 and 200 payments through Etsy Payments, you'll get a 1099-K form from us automatically.

This year I get around $10000 and more than 200 transactions. I don't have EIN number and I dont want to get one because my sales are very low, I only need to sell of my actual inventory to close it. Can I use my own SSN to update this information?

Please help! thanks in advance for your comments


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