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Sad News on Paypal Limits?
 

Ok, So i heard something today, and i wanted to find out if its true or not.

So Apparently, although you can buy a VBA Verified Paypal account, with a VCC attached to it and everything. That once you hit 200 transactions, or sales of $20,000 that paypal is going to want to verify your account "REGARDLESS".

Now I don't know how true this is, but it seems really dis-heartening to hear. As I definitely wan't to be around for more than just 200 transactions.

Can Maybe someone who's more experienced give me there opinion on that info?:help:

Re: Sad News on Paypal Limits?
 

That's not how it works.

If you pass 200 sales or $20,000 in sales in a calendar year, Paypal is required by law to get a tax ID for you so they can submit a 1099K to the IRS on your behalf.

If you never come close to either of those thresholds you won't have to worry about a tax limitation. If you want to sell pass those thresholds you get an EIN from IRS.gov and convert your Paypal to a business account by adding your EIN.

If you DO hit 200 sales and don't give a tax ID, your account is limited but it's only a tax limitation. Which simply means you can't accept any more payments until the next year.

Re: Sad News on Paypal Limits?
 

Isnt that like...a super bad thing. Wouldn't they be able to connect your accounts (your real paypal account to your Stealth paypal account), and red flag it?

Re: Sad News on Paypal Limits?
 

No. Every high volume seller on this forum is using at least one business account - some have a couple. You don't give them your SSN. You get an EIN so you aren't giving them the tax ID as before. By giving them an EIN you are an entirely separate legal entity than your previous personal account.

Paypal and eBay are fully aware of stealth accounts and they purposely leave loopholes to allow them to exist. As long as you're not a bad seller you can very easily get back on and stay on as a business. At the end of the day eBay wants you to sell on their platform, they just don't want you to cause problems.

Re: Sad News on Paypal Limits?
 

I doubt you'll be able to get one anyway as you are outside of the US.

Did you forget where you live?

Re: Sad News on Paypal Limits?
 

Last Time I Checked I Live in NY, lol. :rolleyes:

Unless Im living in the Matrix Right Now, lmao.

Re: Sad News on Paypal Limits?
 

Your IP is displaying as Trinidad & Tobago.

Must be a forum glitch.....

Re: Sad News on Paypal Limits?
 

Nope not a Glitch...

But that's VERY interesting....how are you able to track where my IP's from?

P.S. Thnx BTW phaz0rz for the Answer

Re: Sad News on Paypal Limits?
 

Only the mods can see the actual IP.

Click on the link of "currently active users".

Re: Sad News on Paypal Limits?
 

The flag shows in the active user list.

Only the forum admin and mods can see actual IPs

Re: Sad News on Paypal Limits?
 

So, OP.. what's up with your IP location?

Re: Sad News on Paypal Limits?
 

Vacation :FF:

Re: Sad News on Paypal Limits?
 

Mmmmhmmmm...

Good luck either way, lol. I couldn't care less where you're located. :P

Re: Sad News on Paypal Limits?
 

I gotta Admit though....That's...Pretty Useful...and @ the same time kinda scary. So much for Privacy :faint:

Re: Sad News on Paypal Limits?
 

So 200 transaction of $1 sales is going to get my account limited and can't accept payments until next year?

Re: Sad News on Paypal Limits?
 

Yup, that is what basically happened to my real account. No big deal since this was my real personal account and not a stealth acct.

Re: Sad News on Paypal Limits?
 

We look at users’ flags and try to reply with the correct info to help you.

Now your question about the IRS requirement would have a different response for a user not showing a US flag.

Becomes time wasting for everyone.

:bird:

Re: Sad News on Paypal Limits?
 

So to avoid this, i guess just change and make a new paypal every 200 transaction?

I know paypal send the 1099 but does ebay report the taxes or its just paypal?

Re: Sad News on Paypal Limits?
 

And link ALL those pp's together by trying to avoid this? Nope - paypal is smart and will block all eventually - not a great idea and failure of understanding the stealth process.

Make many accounts and spread/rotate sales

Re: Sad News on Paypal Limits?
 

But it's gonna kill my ranking. Only 200 sales, that's nothing. I'm going to have to make new ebay accounts every 200 sales?

Sigh....

Re: Sad News on Paypal Limits?
 

PayPal has the pleasure.

But you forget another little killer.

PayPal can ask for tax info on projected sales...

:spy:

Re: Sad News on Paypal Limits?
 

PayPal can ask for projected sales? How does this work? THey randomly choose people to ask about their projected sales?