Please help asap with paypal tax id

[Veizagam]

hey there guys, ok so i bought a stealth paypal and ebay account, and everythings been going fine, but today i got my first email from paypal asking for TAX ID OR SSN OR EIN. i have a decent amount of money in there and i want to keep this account for the long run, what can i do? can anyone help me out?

ive read in some threads that i can just get an ein and paypal wont check the name on it, they just want to report to the irs the amount of money that paypal does? is this true????

ive read diffErent things as well, but just dont know what to believe or do, ANY HELP WILL BE GREAT THANK YOU GUYS

[Callidus]

EIN will be needed

[JamesNorth101]

You are going to need an EIN for this one.

Lots of info on the forum about

[Veizagam]

Yes that's what I've read. But I've read different things too. Like I can only use an EIN if the stealth PayPal was created under business account. Some ppl say I can't use an ein. So I don't know??? I think even eBay Stealth says that.

If I did need an ein do I just get one as sole propiertorship??? Or it has to be under an llc since I have my main account under my name???? Thank again guys

[rsot]

Welcome to the forums - main account under your name...what do you mean?

Sole proprietorship should work but posts about llc have been written too

[Veizagam]

Thank you for the welcome

I have a main PayPal that's under my name and had my SS in it as well. So my fear was them linking to the EIN or seeing that their different names. But I've read about it being like the bank account where they don't see that. Just report to that number the amount made

As far as doing the EIN I know they give it to me right away from what I heard on the it's website. As soon as they give it to me can I put it in the PayPal account?? Or I read somewhere that I have to wait 1 to 2 weeks for it to go through the irs system before I should give it to paypal???

Mt fear is if I wait they'll fully limit my account. Right now I can still do everything cause I haven't reached the limit yet

[valandhehe]

I just got the same email from Paypal demanding EIN, TIN or SSN. I've only sold $3100 worth of stuff and the account was opened 2.5 months ago.

I'm glad you posted this because I'm trying to figure out what to do also. I know that you can switch your Paypal account to a business account fairly easily if this makes attaching an EIN easier. Just don't know if any old EIN I get on the IRS website will do for my stealth account.

People have mentioned this being all over the forums. I guess I need to look longer and harder.

Paypal used to wait until you got close to the $20,000 sales limit but now they're pulling this crap at $3100. Can anyone spell government overreach?... I - R - S

[J dub 1984]

Originally Posted by rsot

Welcome to the forums - main account under your name...what do you mean?

Sole proprietorship should work but posts about llc have been written too

Rsot I was searching for links for they seemed outdated. So if you register a sole proprietorship and provide them and EIN # to your main paypal and they want you to upgrade to the business account what's next from there. It seems there taking **** away from me day by day. PayPal wants the EIN # if I oepn a business account is EBAY going to want it too ???? OR my SS# if anyone knows I'd apperciate some insight as it has be stressed out. I have more then I can handle on my plate right now, and everytime I sign into paypal or ebay there giving me a problem my decreasing the amount I can list and putting holds on my funds.THERE HELL BENT ON THIS EIN.

[mizzle]

Yea im in the same boat. I have a LLC at this point and everything. But they still are requiring a SSN and wont just take the EIN

[humunuh]

Originally Posted by mizzle

Yea im in the same boat. I have a LLC at this point and everything. But they still are requiring a SSN and wont just take the EIN

seems to be some conflicting info on this issue out there.

[Veizagam]

Hey mizzle so u put an EIN cause that was one of the options but now their still asking you for a SSN????

[GreenBean]

Originally Posted by mizzle

Yea im in the same boat. I have a LLC at this point and everything. But they still are requiring a SSN and wont just take the EIN

Depends on the context of the request.

Could you be more specific with what is happening with your account.

Then we can try to guide you better.


Vezigam, if there are issues with selling items, this may be a reason for the request.

Let's wait for an update, yes?

[Veizagam]

Thank you for your help. I got an ein today but I think it takes 2 weeks before I cam give it to PayPal and they can verify it. As far as what you mentioned regarding the selling it. It may be the reason cause I had a couple items removed from ebay