question bout entering ein correctly

[bluegrass1]

ok I got my ein went to pp and clicked the button to enter my ein
I guess at some point in the past I turned this into a biz account with my stealth name as the biz name. so it already filled out this in the pp box it says to change info I have to fax upload documents ...soooo am I safe entering my ein with the llc biz name to pp that has my biz name as my stealth name already entered in as a biz name ..... hope this makes sense ... please help asap got orders backing up wont accept the payments

[jeffweico]

Your stealth name is "John Smith" and your EIN is in the name of "John Smith LLC"?

You cannot enter an EIN in place of an SSN. It won't verify. An EIN has to be entered as an EIN under the tax reporting section.

The EIN also must NOT belong to YOU as an individual running a d/b/a, also known as a sole proprietorship. It MUST be an EIN for an LLC, partnership or corporation.

This is the way they verify with the IRS:

An SSN verifies YOUR REAL NAME with the SSN.

An EIN for a sole proprietorship or d/b/a verifies YOUR REAL NAME with the EIN.

An EIN for an LLC, Corporation or Partnership verifies THE BUSINESS NAME with the EIN.

Does this clear it up for you? Because I'm not sure I understand what you are asking.

[yankee]

Great Job Jeff. Copy and save this. It is clear and to the point. Kudos!

[bluegrass1]

Thanks and it helps but no ...

Ok I turned my pp into a biz account ,long before... trying to get it to offer me the option to make buyers pay right when they purchase a buy it now.. When pp asked me the biz name I put my stealth name as the biz name. it didn't ask me for a ein number to do this.and it set my pp account as a biz account then.

Ok months down the road I get the ssn/ein request from pp and they stopped in coming
payments...SO I did what everyone said and went and made up a LLC ein we will call the biz name
" best seller" llc gave the irs all my correct info for this ...

Ok at this point I need to enter the ein into pp to release the limit...
I go to the enter tax id info
and when I click the enter ein option it ALREADY has my stealth name in the box
"JO stealth" as the biz name NOT "bestseller" that is the name on the ein..
wont let me change the biz name without sending docs ..

So if I enter a Ein number into pp irs knows the biz name on ein as "bestseller" pp knows the biz name as "jo stealth" that is the name on my pp and eb stealth account ..
will this cause conflict ? does pp see the biz name on a ein? if so would this still be ok since I used my stealth name as a biz name ?

[jeffweico]

OK, one more thing to check, and this is IMPORTANT: When you log into PayPal, does it say the account is a PREMIERE account or a BUSINESS account. I'm asking, because there IS a difference.

But if it is a business account already, in the name of "Jo Stealth" and you cannot change the business name without faxing in documents, then the answer would appear to be simple - get another EIN for a new LLC and name the new LLC "Jo Stealth LLC".

This is more common than you think, people's names are used on businesses all the time. Like "Ed Hardy" or "Eddie Bauer" or "Mark Shale" - names like that. It would not be unheard of to have a business name that sounds like a person's name.

If the name in the box cannot be changed at all, then there IS a possibility that an account in the name of "Jo Stealth" will not pass verification if the IRS has "Jo Stealth LLC" on file, but it that happens, PayPal will send you an email saying that he name will not verify. At that point, it should be a simple matter to just add the LLC to the end of "Jo Stealth" either by them allowing you to make the small change directly on their website or by calling them. That is NOT the type of major change that should require documents. A lot of people forget to (or don't want to) use the business type in their name, even though it is required by the IRS for legal reasons. It would not be unusual for "Jo Stealth LLC" to be doing business with the simplified name "Jo Stealth". A good example of this is IBM. They are a monster-sized corporation (and are actually hundreds of corporations and LLC's operating together) that for many years was known to the public as "International Business Machines" while their corporate legal name was "INTERNATIONAL BUSINESS MACHINES CORPORATION". In fact, today, most people refer to them as simply "IBM" although there is NO SUCH COMPANY as "IBM". So, if you were reporting something to the IRS for "International Business Machines" you would have to change it to "International Business Machines Corporation" for it to go through. But obviously, you wouldn't think of it as a different company. The same logic applies in the case I outlined above.

[bluegrass1]

Ok god I have looked cant find where is says biz or premier acc since they changed the layout on pp I will keep digging but any idea ?