Quick EIN question. I am confused....

[Joenice]

I read on the forum and made me so confused. Can someone get me st8 out plz.

Personal PayPal account is under name Joe Walker. I am planning to get an EIN and upgrade PP to business account with name of: High Tech Products


I have a registered Sole Proprietor with state. I want to get an EIN with name of Joe Walker and DBA High Tech Products at IRS website.

When I upgrade my PP to business and give them that EIN, what name on PP has to match with IRS? Joe Walker or High Tech Products?


Please note: I read on the forum that if you have Sole Proprietor and gotten an EIN, payapl must match the name of the person ( Joe Walker ) if its an Sole Proprietor not DBA. Is that true?

This is what makes me confused. I hope you get what I mean. Ideas?

[lolzcat]

http://www.aspkin.com/forums/paypal-...ks-me-ein.html

This sheds some light. I have just gotten to this step and for mine I have just formed a LLC to be sure that paypal checks vs Business name and not personal name.

[joew8989]

I'm pretty sure its illegal to get a tax ID for a fictitious name. If your account is under the stealth name Joe Walker, and you have a different name. I would get your LLC in the name of Joe Walker LLC, and get your tax ID in the name of Joe Walker LLC and you are legal. At least that's how I do it and it does work.

[lolzcat]

Yes you must give the IRS all proper information and ssn. But I believe once you apply as a business paypal only is able to check if business name matches EIN

[BigCJ]

Paypal is far from a legal entity in that case.
The only ones who need your true info is the IRS for tax purposes.
You can tell paypal that you work on the moon for space air for all they care.

[Joenice]

Got it. So It must be LLC in order to work. Getting an EIN on IRS for LLC with same name of business on PayPal.

Also, if business name is: "Nice Cars" and IRS have "Nice Cars LLC" will it match?
I am confused if I should add the LLC word to PayPal bussiness name too or Nice Cars without LLC word at the end will work too?

Which one IRS will give out "Nice Cars" or "Nice Cars LLC" ?

I just want to make sure I enter the exact same on PP business name.

Any clues?

[Joenice]

Originally Posted by lolzcat

http://www.aspkin.com/forums/paypal-...ks-me-ein.html

This sheds some light. I have just gotten to this step and for mine I have just formed a LLC to be sure that paypal checks vs Business name and not personal name.

Originally Posted by joew8989

I'm pretty sure its illegal to get a tax ID for a fictitious name. If your account is under the stealth name Joe Walker, and you have a different name. I would get your LLC in the name of Joe Walker LLC, and get your tax ID in the name of Joe Walker LLC and you are legal. At least that's how I do it and it does work.

Got it. So It must be LLC in order to work. Getting an EIN on IRS for LLC with same name of business on PayPal.

Also, if business name is: "Nice Cars" and IRS have "Nice Cars LLC" will it match?
I am confused if I should add the LLC word to PayPal bussiness name too or Nice Cars without LLC word at the end will work too?

Which one IRS will give out "Nice Cars" or "Nice Cars LLC" ?

I just want to make sure I enter the exact same on PP business name.

Any clues?

[MICKYMICK]

Yes, you will need an LLC & register for a business PP account. You would enter Joe Blow LLC in the PayPal account name. I've set up 2 like that so far & doing fine so far.

[Joenice]

Originally Posted by MICKYMICK

Yes, you will need an LLC & register for a business PP account. You would enter Joe Blow LLC in the PayPal account name. I've set up 2 like that so far & doing fine so far.

2- Did you include "LLC" word at the end in your PP business name too or no?

2- Does IRS include "LLC" word at the end automatically to your business name or you have to write it as well?

For example: Registeing for LLC at IRS website for business name "Nice Cars" will IRS add an "LLC" word at the end automatically or when you are typing business name you have to write it as "Nice Cars LLC"


How did you do it?

[MICKYMICK]

IRS will list it on paperwork as "joe blow LLC"
That is exactly how you put it on PayPal.

[Joenice]

Originally Posted by MICKYMICK

IRS will list it on paperwork as "joe blow LLC"
That is exactly how you put it on PayPal.

Yes, I understand. I mean, when I am at the IRS website getting EIN, when its time to write the business name; do I write it "joe blow" and IRS will add LLC word to it or I have to myself write it as "joe blow LLC"


You get what I mean?

[GreenBean]

We tell users to TAKE PROFESSIONAL advice for tax matters.

We accept that noone here is a professional so prefer correct advice is given.



The info must be entered correctly to avoid issues with IRS & paypal. This is imperative

[lolzcat]

The IRS wil give you a form for your records which has the exact way you entered the business name for your ein. Use this on your paypal account so they both match exactly