Forum

EIN Question (Could be benefit a lot of people)
 

I had my Paypal blocked a while back and at moment I am using a friends account. Now its time to add a social security number (at moment it was already on the account and they are just asking me to reverify it).

the question I pose Is they are also asking for a Tax ID (which I have gotten personally for my name a while back). I was wondering If we use the tax id does paypal have any way of verifying its under my name and not my friends name and if this is the case I can have taxes under my name still and not cause problems especially with taxes with a friend who is just trying to help me out.

So basically if we are blocked from Paypal and we use someone else's name, could be possibly use a tax id and have all taxes ofshooted and allow us back on Paypal with just a new identity?

PayPal cannot get your name from the TAX-ID number, but they will find that it does not match your friend's name.

If they are going to report sales to the IRS, they will first have to verify the information provided. When you registered for the EIN, you had to give the name of the "responsible party" in this case, your name.

PayPal will send the EIN and the name and address associated with the account to the IRS for verification, and it will come back to them MATCH or NO MATCH. By law, the IRS cannot give PayPal any more information than that, but if they want to report sales under the EIN, they will have to have a MATCH response from the IRS.

So, they will know that the EIN is not in your friend's name.

That clearly was a great fast response. Well maybe i can open up a company name under his name maybe and put me as a worker and then have me deal with the taxes. i suppose this would work.

Go find an accountant to help you with preparing correctly for taxes paypable.

EIN & their use must be above board