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-   General Platform Discussions (https://www.aspkin.com/forums/general-platform-discussions/)
-   -   Mercari now asking for W-9 (https://www.aspkin.com/forums/general-platform-discussions/146249-mercari-now-asking-w-9-a.html)

mclovin20 12-16-2021 08:32 PM

Mercari now asking for W-9
 
It used to be you didn't have to file on Mercari until $20k earnings, so I would always just make a new account when I got near that mark. Now for 2022 and forward they have changed it to anything over $600. Is there any way to get around w-9? Do I have to use my real information because I never even use my real name on Mercari accounts.

SaiJin 12-16-2021 09:16 PM

Re: Mercari now asking for W-9
 
use EIN instead of SSN.

rsot 12-17-2021 05:11 AM

Re: Mercari now asking for W-9
 
Quote:

Originally Posted by mclovin20 (Post 1179322)
It used to be you didn't have to file on Mercari until $20k earnings, so I would always just make a new account when I got near that mark. Now for 2022 and forward they have changed it to anything over $600. Is there any way to get around w-9? Do I have to use my real information because I never even use my real name on Mercari accounts.

interesting info from TGMT squared here: http://www.aspkin.com/forums/ebay-di...id-number.html

Gotya108 12-17-2021 08:29 AM

Re: Mercari now asking for W-9
 
Quote:

Originally Posted by rsot (Post 1179336)
interesting info from TGMT squared here: http://www.aspkin.com/forums/ebay-di...id-number.html

This is state not federal. For national/international marketplaces and platforms, no matter the state reporting threshold of the seller, at $600 we`ve got to confirm tax info submitted is accurate and we will be able to submit a correct 1099-K to the IRS on time. If the EIN or SSN info doesn`t match what`s in the IRS database when we submit that 1099 it comes back as rejected, file late or just don`t file at all the fines can reach up to $570 per non filed or rejected 1099. Best practice at this point is to just assume every account signing up for your platform will cross the $600 threshold and require verifiable tax info upfront before allowing the account to go live. The only way around this would be for a platform or marketplace to not allow payments on platform and basically just become a classifieds site like Craigslist. I said this a few times in a few different threads. No matter how great you make a stealth personal account on any platform that runs real KYC and/or auto generates 1099's there's an alert on the account. In the past we didn't have to act on those alerts until projections put the account over the threshold. So the bigger platforms were happily turning a blind eye in exchange for profits. In terms of sole prop and single member LLC sellers Those days are over.

agent006140 12-17-2021 09:08 AM

Re: Mercari now asking for W-9
 
On Rubylane ,you can ask for check or cash,but it is a site mostly for vintage and antiques

Arka638 12-17-2021 10:50 PM

Re: Mercari now asking for W-9
 
Quote:

Originally Posted by mclovin20 (Post 1179322)
It used to be you didn't have to file on Mercari until $20k earnings, so I would always just make a new account when I got near that mark. Now for 2022 and forward they have changed it to anything over $600. Is there any way to get around w-9? Do I have to use my real information because I never even use my real name on Mercari accounts.


I’m also concerned about this because I had my real account banned and then I made a stealth account that I’ve been using with no issues but wanted to have a legit account when this starts but I fear the second I put in my valid info I will be banned again?! This sucks

agent006140 12-19-2021 06:56 PM

Re: Mercari now asking for W-9
 
avoid Ebay,Etsy,AMZN and start your own website and accept postal order,money order,or personal check or cash or wiretransfer


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