Paypal Account Limited (then restored the next year)
It has been awhile since I have been on these boards, but I have an issue. I sell on ebay, not a big seller, I believe I can/have sold less then 10K easily, just pretty much doing it to supplement my regular job income. I have been dealing with the whole limit on paypal accounts for several years now.... I do not want to give paypal my ssn for fear of them losing it or sending info to send it to the IRS and make false claims that I sold certain amounts and I have no receipts to show what i paid for the items I have collected.
So when my paypal account gets limited, I just create a new account until that one gets limited, usually when I meet a threshold of when they "think" I will reach 20k for the year. Mostly I am selling stuff I have around house and so forth so I am not a business so to speak, more as hobby, BUT I have a lot of stuff I have collected over the years and trying to figure taxes seems like an additional headache I do not want to deal with for things in my collections over the years or pay a CPA to do it either, that is just more money. I have not been banned from ebay or paypal, just a regular seller/buyer who doesn't want to deal with tax stuff over small amounts. I could see if I treated it like a business and sold $50k plus, but I do not have time for that due to my regular job and of course tax headaches. Anyways, I had two paypal accounts that were limited last year (requiring my ssn to use it again), I went to login into those accounts and they are no longer asking for the ssn and the red dot is not showing at the top of the account page for either. My main question is, does paypal restore those accounts and remove limit after a certain amount of inactivity?
Keep in mind those accounts all had my regular valid bank accounts and sorry about the additional info, just wanted to make sure you saw where I was coming from that I was not trying to be a "stealth" so to speak. Also is there any other option to be able to sell my collectibles without it being such a pain? I would like to sell more stuff, but feel it will just limit a paypal account even faster, I am thinking my only option is to register as a business with an EIN I guess.... though I am really trying not too because of the tax pain.
Appreciate your help on this.... |