Quote:
Originally Posted by TeamUp Do you think they actually take the time to match up the business EIN with your name and address that is on your paypal? | Definitely not on a business account because you are saying the account is owned by the business (so they only have the right to check on the business) while the person on the account could just be someone you hired to run the paypal account or he could be an elected officer within your company. The only person listed with the EIN is the tax liability partner or sole owner (shareholder).
If you are talking about using it in place of a social on a personal account, I'm positive they do. If the IRS is asking them to collect this information, they are providing them with access to a system to do so or paypal is immediately providing the information to the IRS for verification. That is irrelevant because I doubt anyone here is stupid enough to provide a false social to Paypal.
I have been championing the idea of upgrading to a business account and providing an EIN to meet this requirement but let me be very clear on one point:
You must identify the account as a business account with the correct business name. You must not try to provide an EIN when your account is a personal account. This will get you in a lot of trouble.
See my thread from a few days ago: http://www.aspkin.com/forums/subscri...porations.html
Last edited by Futuremogul888; 11-02-2012 at 02:21 PM.
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