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Old 10-05-2017
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Default Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

Just received 2 emails from paypal on 2 business paypal stealth accounts (both almost 2 years old), last year i paid the tax without problem and i never change any detail.

Here is the email :

Dear XXXXXX,


As you receive payments for goods or services through PayPal, we submit a tax Form 1099-K as required by the U.S. Internal Revenue Service (IRS), when the payments you receive meet the reporting thresholds set by the IRS. The Name and Tax Identification Number (TIN) we have on file was used for Form 1099-K reporting for tax year 2016. However, this information doesn’t appear to match the information on file with the IRS.

To correct this, please follow these steps:
Download U.S. IRS tax form W-9 here, fully complete, and sign the form
Login to your PayPal account
Go to the Resolution Center to upload the tax form W-9.
Note:
If you have multiple PayPal accounts, you may need to verify your TIN is accurate for each account.
You can learn more about the IRS reporting requirements at www.gaypal.com/irs.
If the IRS requests any further information updated, we will notify you accordingly.
If you have questions, please go to Help & Contact at the bottom of any PayPal page.

Thank you,

PayPal
Was this email helpful? Please click here to let us know how we're doing at keeping you informed.

Question : Should i just fill out the W-9 with stealth info except the business name & EIN ?

Thank You
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  #2  
Old 10-05-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

I got the exact email on my two paypal accounts. Does anyone have any suggestions? They both have EIN numbers taxes paid on both last year and now this email. Any help would be greatly appreciated
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Old 10-05-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

So you guys passed the $20.000 / 200 mark eh...

I'd fill up using the stealth info. Reason being if they see that the info doesn't match the info for your PP, they may limited you immediately.

Then I'll stop using these 2 accounts for now until this is sorted out and make sure the account is emptied out.
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Old 10-06-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

Quote:
Originally Posted by SaiJin View Post
So you guys passed the $20.000 / 200 mark eh...

I'd fill up using the stealth info. Reason being if they see that the info doesn't match the info for your PP, they may limited you immediately.

Then I'll stop using these 2 accounts for now until this is sorted out and make sure the account is emptied out.
Hi Saijin,

Yes, its long time i passed the mark. Last year i put an EIN at both account and paid the taxes at Jan 2017. Yesterday i got same emails on both accounts. The EIN/LLC still active and nothing change.

From what i understand, if i send the W-9 to Paypal with stealth info except Business Name + EIN number, there is no chance Paypal can validate all the info except the Business name match or no match. Am i correct here?
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

Quote:
Originally Posted by camouflage View Post
Hi Saijin,

Yes, its long time i passed the mark. Last year i put an EIN at both account and paid the taxes at Jan 2017. Yesterday i got same emails on both accounts. The EIN/LLC still active and nothing change.

From what i understand, if i send the W-9 to Paypal with stealth info except Business Name + EIN number, there is no chance Paypal can validate all the info except the Business name match or no match. Am i correct here?
W-9 says Name (as shown on your income tax return). Name is required on this line; do not leave this line blank.
What does this mean ? Should I just put the stealth name on ?
Will it be validated by IRS ? I think PayPal does not care.
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Old 10-06-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

Definition of a Limited Liability Company or LLC. Like a corporation, a limited liability company or "LLC," is a separate and distinct legal entity. This means that an LLC can get a tax identification number, open a bank account and do business, all under its own name. So you shouldn't have to put your name on the W-9 because you would be filing taxes under the LLC. Do you have an accountant you could ask about this?
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Old 10-06-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

I got the same. I sent them some info.

Just few weeks ago I called IRS updated my EIN to match my paypal. I just got the new copy in mail with correct address and info matching account. I uploaded it. lets see what happens.

I did almost 100k in sales on it and paid my taxes also.
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

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Originally Posted by newjerseymax View Post
I got the same. I sent them some info.

Just few weeks ago I called IRS updated my EIN to match my paypal. I just got the new copy in mail with correct address and info matching account. I uploaded it. lets see what happens.

I did almost 100k in sales on it and paid my taxes also.
I just go ahead uploaded the W-9 form today. Put all stealth info EXCEPT the business name and the EIN. Will update here when they finished the review.
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Old 10-06-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

I really hope it works out for you. This is the reason why I never go beyond the treshold.
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  #10  
Old 10-09-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

I have 10 stealth accounts need W-9 to upload, I am trying to figure out how to walk around...
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

Quote:
Originally Posted by SaiJin View Post
I really hope it works out for you. This is the reason why I never go beyond the threshold.
After reading this I won't be going beyond the threshold either. I'll just keep like 10 accounts running or something and work on building an offline income.
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Old 10-09-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

That's a good motivation.

Just operate the number of accounts that you are comfortable with then grow more depending on your goals.

I still recommend the stealth guide if you are going my route.
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Old 10-11-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

Any updates? Got the same email a few days ago. 5 year old account. Taxes paid in 2014, 2015, 2016. no info has changed.
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

Quote:
Originally Posted by Broadwaygirl View Post
Any updates? Got the same email a few days ago. 5 year old account. Taxes paid in 2014, 2015, 2016. no info has changed.
I uploaded the W-9 since Friday, still dont get any reply from them.
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

Sent everything in. Account has always been in excellent standing, taxes always paid, and never had any issues. I followed up by calling them to make sure they didn't need any additional documents, they said it takes a week to review as they are backed up.

According to the rep, over the past couple weeks did have a lot of 1099ks come back to PayPal as mismatches with irs. I wonder why. I hope PayPal wasn't hacked like equifax was. Just seems strange, as all my info has always been correct, and I even called the IRS to confirm
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Old 10-12-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

I'll say it again, people in general want the easy way out. They'd rather operate in content and go through the treshold rather than operating multiple accounts and be below that.

Also, being below the threshold doesn't mean you don't need to pay taxes, you do... you just wont be harassed by paypal about it like most of these people.
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Old 10-14-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

Any update ?
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Old 10-16-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

No updates from me - I submitted everything last week and have t heard anything yet. Anyone else?
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Old 10-16-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

Please keep us updated. Do we just ignore the message?
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Old 10-16-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

No update so far.
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Old 10-17-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

No update for me either. It's now been a week, they did tell me it would take that long so I hope to have news tomorrow. This sure is frustrating, right as the busy sales season approaches to have to deal with this. My PayPal is a legit account - not stealth, and all info is correct.
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  #22  
Old 10-17-2017
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Default Re: Got email from PP regarding TIN / EIN doesn't match (Paid taxes last year)

I hope that while all of you are waiting for the results to come back, you are already processing multiple back up accounts and working on them?
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