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Old 12-28-2014
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Default Tax ID number Requested by Paypal

Hello,

I just got an email from PayPal asking me to provide Tax ID information.

Is this something new?

Should I provide my SSN? Please advise since my PayPal will be limited very soon .

-Thanks
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Old 12-28-2014
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Default Re: Tax ID number Requested by Paypal

This has been going on for the last few years. You must have crossed 200 transactions and/or $20,000 in yearly sales.

If this is your real account, you could provide your SSN but I personally wouldn't give Paypal that information. Upgrading your Paypal account to a business account and getting + adding an EIN from the IRS is an option so you don't have to give your SSN.
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Old 12-29-2014
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Default Re: Tax ID number Requested by Paypal

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Originally Posted by plumsake2 View Post
This has been going on for the last few years. You must have crossed 200 transactions and/or $20,000 in yearly sales.

If this is your real account, you could provide your SSN but I personally wouldn't give Paypal that information. Upgrading your Paypal account to a business account and getting + adding an EIN from the IRS is an option so you don't have to give your SSN.
It s stealth account so they dont have my real information
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Old 12-29-2014
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Default Re: Tax ID number Requested by Paypal

First request?
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Old 12-29-2014
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Default Re: Tax ID number Requested by Paypal

It is close to end of year if this your first request I would just wait it will clear out next year just keep an eye on the ssn request ..its all on here just search through the threads you will learn a lot
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Old 12-29-2014
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Default Re: Tax ID number Requested by Paypal

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First request?
Yes, this is my first request.

I prob will have to get an EIN anyway because I know I will get over 200 transactions next year anyway

-Thanks
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Old 12-29-2014
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Default Re: Tax ID number Requested by Paypal

or spread sales. But it sounds like you are selling affordable items and it is much easier to keep on re-listing them.

One of the things I do is bundle these priced items together. For example I wanted to move an extra 1000 pieces by years end but only wanted to do it on one stealth account with a selling limit of 100. I ran 100 auctions with ten packages each. Works for these items. May not work for your items.
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Old 12-31-2014
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Default Re: Tax ID number Requested by Paypal

Quote:
Originally Posted by plumsake2 View Post
This has been going on for the last few years. You must have crossed 200 transactions and/or $20,000 in yearly sales.

If this is your real account, you could provide your SSN but I personally wouldn't give Paypal that information. Upgrading your Paypal account to a business account and getting + adding an EIN from the IRS is an option so you don't have to give your SSN.
PayPal will lock you account if you do not provide Tax ID before you hit either threshold. Most of the requests are because you are getting closer to 200/20k that you are talking about. If it is this late in the year and you have just got your first one it isn't even worth worrying about it will reset on Thursday.

I agree with other members if you want to go legit then go the EIN route. If you can only run stealth's make more accounts and spread the sales out.

Highly suggest making spreadsheets with sales $ and number of payments received for every month. Keep a running tally so you know where you are at.
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