paypal requesting ssn

[Joer]

We have a stealth account which has just about reach 200 items. Should we continue to sell or stop listing and wait a year? Do we get a fresh 200/20,000 every year or is the account dead?

[Kickass]

I want to know as well.
my account also ask provide SSN. what is the best resolution for this matter?

[pokerpro]

Every year, your 200/20K starts over...so, you either have to stop listing on those accounts, or keep going and furnish the SSN. That's why you make many different accounts.

[GreenBean]

Originally Posted by pokerpro

Every year, your 200/20K starts over...so, you either have to stop listing on those accounts, or keep going and furnish the SSN. That's why you make many different accounts.

That is not the full nor correct story.

If you do not have the facts, try to not give half baked info.

Should sellers have accounts reaching 200/$20,000 or paypal sees projected sales that may total the amount, then different types of ID are requested.

Yes, one is the SSN but there is also the choice of EIN.

Users should at the least be told this.

[paraline2000]

I was just asked about EIN / TAX ID and am very worried I will not be able to supply this information. I think I am going to get limited before recent payments even become available and I am going to get jammed up with as much as 2k in paypal that I can't send. Has anyone ever heard of this happening? Should I pull all my ebay listings in anticipation of this?

[pokerpro]

What's not correct about what I said??

[GoteBay]

Direct from PayPal:

What is Internal Revenue Code (IRC) Section 6050W?

Under the legislation, we'll report to the IRS the total payment volume received by US account holders whose payments exceed both of these levels in a calendar year:

1. US$20,000 in gross payment volume from sales of goods or services in a single year
2. 200 separate payments for goods or services in the same year

IRC Section 6050W applies to all payment processors, including PayPal. Our goal is to help PayPal sellers understand and comply with the new requirements.

[paraline2000]

Anyone catch my post? I am about to start my own thread...

[GoteBay]

Originally Posted by 93tillinfiniti

Anyone catch my post? I am about to start my own thread...

Read my reply above. You will need both 200 and $20,000. But PayPal use projected sales, not actual sales.

You may be asked for papers, but not reported even if you provide an EIN.

[paraline2000]

Originally Posted by GoteBay

Read my reply above. You will need both 200 and $20,000. But PayPal use projected sales, not actual sales.

You may be asked for papers, but not reported even if you provide an EIN.

So your saying you have to cross the threshold into 200 transaction or 20k to become limited?

I have something like 185 Sold items and 20 active auctions that will end very soon. If I pull them, is there a chance they will stop asking me for tax info? Thanks.

[GoteBay]

Originally Posted by 93tillinfiniti

So your saying you have to cross the threshold into 200 transaction or 20k to become limited?

I have something like 185 Sold items and 20 active auctions that will end very soon. If I pull them, is there a chance they will stop asking me for tax info? Thanks.

PayPal may ask for papers based on projection of sales. But to be reported, you will need to meet both 200 and $20,000 in a calendar year.

[paraline2000]

Originally Posted by GoteBay

PayPal may ask for papers based on projection of sales. But to be reported, you will need to meet both 200 and $20,000 in a calendar year.

What about to be limited? My only concern is that my paypal balance of about 3k will be frozen, and I will not be able to move the funds. How do i prepare for this?

[rsot]

Originally Posted by GoteBay

PayPal may ask for papers based on projection of sales.

Very key to understand - one of the ways accounts get limited early.

[paraline2000]

If you do not hit the projection, will your account automatically not be limited for not providing them with the tax information?

[paraline2000]

Originally Posted by rsot

Very key to understand - one of the ways accounts get limited early.

So I have been asked for the tax info, and am clearly projected to hit the mark. My question is, what if I do not respond to the request for tax information, and do not hit the limit. Will my account be frozen?

[rsot]

In one word - yes (sadly) - difficult to predict when. If you havent been hit with limitation yet....smart move to make more stealth accounts and rotate sales

[Sandy D]

Originally Posted by GoteBay

Direct from PayPal:

What is Internal Revenue Code (IRC) Section 6050W?

Under the legislation, we'll report to the IRS the total payment volume received by US account holders whose payments exceed both of these levels in a calendar year:

1. US$20,000 in gross payment volume from sales of goods or services in a single year
2. 200 separate payments for goods or services in the same year

IRC Section 6050W applies to all payment processors, including PayPal. Our goal is to help PayPal sellers understand and comply with the new requirements.

But....

They are and have been going after accounts way earlier then those numbers.

One reported here 170 sales and 5,000 and they got hit with it.

This is just a threshold and pp is afraid to not catch one that has the potential of hitting those numbers so they will send those account a request way early.

[mjgh06]

On my two accounts that were suspended this past month by eBay, Papypal asked me for SSN on 1st account when I had 300sales/$1,500.00 (high item # but low $) 2nd account was immedietley requested at 20sales/$130.00.

I have since trying to go stealth, attempted to start to new PP accounts and within two business days (no ebay account yet) asked for SSN on both. These were completely different accounts by name, address, bank, CC, phone, emails, different Ip even. So no correlation.

[sorusty]

So does anyone know how to get around the new Paypal policy requesting you provide a SSN for tax requirements. I got the request to provide a SSN on my ghost account and im not even close to the 200 items, $20,000 limits. Im just trying to figure out how NOT to get my account linked by EBAY to my old stuff.