LLC EIN is your best solution if they have already asked. They will not stop asking. After about the 3rd request, your account will be limited until your provide one or the other. Sole Proprietorship and Partnership will not work if this is a stealth.
LLC EIN is your best solution if they have already asked. They will not stop asking. After about the 3rd request, your account will be limited until your provide one or the other. Sole Proprietorship and Partnership will not work if this is a stealth.
Once my account got limited, does mean I am not be able to transfer my money to my bank anymore?
If you've reached the point where they're asking, then you can get an EIN number from the IRS and add that. It works for stealth. Just make sure that the important information (business name + address) matches.
To avoid that in the future try spreading your sales across many different stealth accounts so that none of them reach (or come close to) reaching 200/$20000.
Or leave the account alone for the next 12 months.
this is where im at. i just got the request today. im starting to have so many stealth accounts spread out that i could wait a 12, but do we know if 12 months is good or just until we're in the new year? does anyone know?
You need to take action to deal with this request.
Or leave the account alone for the next 12 months.
Are you saying you can leave the pp acct alone for a year after receiving the EIN/SSN request, and then start selling on it again the next year without worrying about the request until you start coming close to the limits again?