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  #1  
Old 12-21-2017
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Unhappy 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?
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  #2  
Old 12-21-2017
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Default 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.
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by phaz0rz View Post
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.
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?
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by ChronosTrigger View Post
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?
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.
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  #5  
Old 12-21-2017
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by ChronosTrigger View Post
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?
I doubt you'll be able to get one anyway as you are outside of the US.

Did you forget where you live?
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by Ebayorbust View Post
I doubt you'll be able to get one anyway as you are outside of the US.

Did you forget where you live?
Last Time I Checked I Live in NY, lol.

Unless Im living in the Matrix Right Now, lmao.
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Default Re: Sad News on Paypal Limits?

Your IP is displaying as Trinidad & Tobago.

Must be a forum glitch.....
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by Ebayorbust View Post
Your IP is displaying as Trinidad & Tobago.

Must be a forum glitch.....
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
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Default Re: Sad News on Paypal Limits?

Only the mods can see the actual IP.

Click on the link of "currently active users".
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  #10  
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by ChronosTrigger View Post
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
The flag shows in the active user list.

Only the forum admin and mods can see actual IPs
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  #11  
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Default Re: Sad News on Paypal Limits?

So, OP.. what's up with your IP location?
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by phaz0rz View Post
So, OP.. what's up with your IP location?
Vacation
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  #13  
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by ChronosTrigger View Post
Vacation
Mmmmhmmmm...

Good luck either way, lol. I couldn't care less where you're located. :P
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  #14  
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by JamesNorth101 View Post
The flag shows in the active user list.

Only the forum admin and mods can see actual IPs
I gotta Admit though....That's...Pretty Useful...and @ the same time kinda scary. So much for Privacy
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Old 12-26-2017
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by phaz0rz View Post
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.
So 200 transaction of $1 sales is going to get my account limited and can't accept payments until next year?
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by ithelps View Post
So 200 transaction of $1 sales is going to get my account limited and can't accept payments until next year?
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.
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Old 12-26-2017
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by ChronosTrigger View Post
I gotta Admit though....That's...Pretty Useful...and @ the same time kinda scary. So much for Privacy
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.

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Old 12-30-2017
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by dsspro3 View Post
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.
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?
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Old 12-30-2017
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by ithelps View Post
So to avoid this, i guess just change and make a new paypal every 200 transaction?
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
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by rsot View Post
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
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....
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  #21  
Old 12-30-2017
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by ithelps View Post
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?
PayPal has the pleasure.

But you forget another little killer.

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

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  #22  
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Default Re: Sad News on Paypal Limits?

Quote:
Originally Posted by GreenBean View Post
PayPal has the pleasure.

But you forget another little killer.

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

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