Combination of Name and Taxpayer ID dont match

[Robin Hood of Amazon]

So this is a huge issue. This is a stealth account where I make about 75% of my sales so I cant lose it right before the holidays. I have an LLC attached to this account with a ⊗⊗⊗⊗ name so obviously the name and taxpayer id isn't going to match up. I have had this store for 2 years now and they never asked for me to submit an updated W-9 form before. So now if I update this form with my correct name to match the tax ID will I be ok with the IRS but banned by paypal since the stealth name and real name wont match?

[GreenBean]

Sorry, I do not follow.

If the nsme of your LLC is the same name as your account you are OK. Is this close to the case?

[phaz0rz]

You'll lose this Paypal account. You won't have any problems with the IRS as long as you pay taxes.

They're making you put your name on the W-9, right? Because of the type of business you formed? Only way to try weaseling around would be to say on the W-9 you're a corporation, then submit your business name + EIN again. I found out the W-9 will let you do this but it was too late for me. Deadline had already passed.

Edit - Start setting up an auth.net account now if you want to keep selling on this eBay account next year.

[phaz0rz]

Please post an update, OP. I would really like to hear how this is going for you. Vital topic for those of us using business accounts.

[ebaystealth1974]

Originally Posted by Robin Hood of Amazon

So now if I update this form with my correct name to match the tax ID will I be ok with the IRS but banned by paypal since the stealth name and real name wont match?

If PP doesn't look up the names connected to the EIN, what's preventing you from just putting the made-up name on the form you send to them... the one that matches PP account.

DISCLAIMER: I've never had to do this and know nothing about it.

[Robin Hood of Amazon]

Originally Posted by GreenBean

Sorry, I do not follow.

If the nsme of your LLC is the same name as your account you are OK. Is this close to the case?

No the name on my paypal is different than on the LLC...I originally opened the account as a stealth...so now it's becoming a problem...I would change the name on my paypal account but they want my SS# to do this. But my SS# is permanently banned on ebay/paypal.

[Robin Hood of Amazon]

Originally Posted by phaz0rz

You'll lose this Paypal account. You won't have any problems with the IRS as long as you pay taxes.

They're making you put your name on the W-9, right? Because of the type of business you formed? Only way to try weaseling around would be to say on the W-9 you're a corporation, then submit your business name + EIN again. I found out the W-9 will let you do this but it was too late for me. Deadline had already passed.

Edit - Start setting up an auth.net account now if you want to keep selling on this eBay account next year.

It gives me the option at the top to put my Legal Business Name instaed of my name at the top but then at the bottom it asks for my First and Last Name, as a signature. What should I put and should I wait until the last second?

[Robin Hood of Amazon]

Originally Posted by ebaystealth1974

If PP doesn't look up the names connected to the EIN, what's preventing you from just putting the made-up name on the form you send to them... the one that matches PP account.

DISCLAIMER: I've never had to do this and know nothing about it.

I already did that about a month ago, I put my stealth name with my business name. It cleared my account but I guess once that info gets to the IRS they tell paypal that the names don't match.

[phaz0rz]

Originally Posted by Robin Hood of Amazon

It gives me the option at the top to put my Legal Business Name instaed of my name at the top but then at the bottom it asks for my First and Last Name, as a signature. What should I put and should I wait until the last second?

I still have the form saved to my laptop. If I remember correctly it won't allow you to submit the form on the Paypal site if you put in your "legal business name" and then say you have a "single member LLC" EIN. You're required to put your legal name for a single member LLC because single member LLC's are taxed on the personal level.

That's why I say the only workaround would be to call yourself a corporation, though I have absolutely no idea if that would work. It would probably allow you to submit the form on the website but it could be rejected later once it's reviewed.

About the name on the bottom of the form, it says "name of U.S. person", not "name of EIN owner". I researched this topic last year when I was struggling with the form. You can put any name there as long as the information up top is accurate. That's just the electronic signature of whoever filled out the form. Could reasonably have been your accountant or tax guy, y'know?

[Robin Hood of Amazon]

Originally Posted by phaz0rz

I still have the form saved to my laptop. If I remember correctly it won't allow you to submit the form on the Paypal site if you put in your "legal business name" and then say you have a "single member LLC" EIN. You're required to put your legal name for a single member LLC because single member LLC's are taxed on the personal level.

That's why I say the only workaround would be to call yourself a corporation, though I have absolutely no idea if that would work. It would probably allow you to submit the form on the website but it could be rejected later once it's reviewed.

About the name on the bottom of the form, it says "name of U.S. person", not "name of EIN owner". I researched this topic last year when I was struggling with the form. You can put any name there as long as the information up top is accurate. That's just the electronic signature of whoever filled out the form. Could reasonably have been your accountant or tax guy, y'know?

Thank you for the info, I will definitely try that. But I think I will wait until a few days before the deadline of DEC 10th so that if it doesn't work PP doesn't ruin my whole holiday selling season. I will update this post once I send in the info.