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Old 08-06-2018
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Default Receive above 20,000 USD/EUR, what's next?

Hi Paypal Warriors,

I have a question please.

Lets you have your own account in USA with your SSN etc linked.

Then your sales go above 20,000 USD.

I've read many times that they might limit your account. But in this case, you have already your SSN.

What will happen then? They will ask you to provide your tax fillings documents? or what will happen?
(Assuming you have already verified your account with your ID + Proof of Address + Bank statement).

That was the case for USA.

How is it in EUROPE when you go over 20,000 EUR the year in sales?


Thank you
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Old 08-08-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

any idea guys?
I have read that you after you received 200 payments from your Sales or above 20,00o USD you get limited or are asked to provide further documents.
Any experience with that please?
What happens exactly at that stage?
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Old 08-08-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

They will report it to IRS so you can file taxes for it.... besides that if hey havenít limited the account and you are way over he limit it should be fine, be careful with taxes tho. I sold 44k ended up paying 3500
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Old 08-08-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

hey! Hoe gaat het met je? Woon je echt in Holland?
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Old 08-09-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

Quote:
Originally Posted by SaiJin View Post
hey! Hoe gaat het met je? Woon je echt in Holland?
Wil je dat we elkaar ontmoeten?
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Old 08-09-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

Quote:
Originally Posted by hypestonline View Post
They will report it to IRS so you can file taxes for it.... besides that if hey havenít limited the account and you are way over he limit it should be fine, be careful with taxes tho. I sold 44k ended up paying 3500
Thanks!
So basically I will receive the IRS form by letter right?
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Old 08-09-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

If you have an EU paypal account they will ask for verification after you received 1800 Euros. You'll then have to provide your ID and proof of address to paypal.
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Default Re: Receive above 20,000 USD/EUR, what's next?

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Originally Posted by dachilla View Post
If you have an EU paypal account they will ask for verification after you received 1800 Euros. You'll then have to provide your ID and proof of address to paypal.

And after this, after 20,000 EUR they will not limit the account as they do in US or what will happen then?

It seems then that EUropean Accounts are better?
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Old 08-09-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

after you submitted the docs at 1800 euros successfully the account is verified and there will be no further distractions.

Note: for US Paypal account you'll need a US bank account to withdraw. If you open a Paypal in NL any EU country bank account and Switzerland can be attached.
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Old 08-09-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

Quote:
Originally Posted by madonna7878 View Post
And after this, after 20,000 EUR they will not limit the account as they do in US or what will happen then?

It seems then that EUropean Accounts are better?
The methods are different.

For the EU, the request is for anti-money laundering regulations.

For the US, paypal needs to comply with IRS tax regulations.

For these paypal must issue a 1099 form. Currently, the threshold is 200 items & $20,000. Paypal does request info on projected sales.

If you are selling on US ebay & paypal, you would get a TIN as a foreigner.

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Old 08-09-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

Quote:
Originally Posted by dachilla View Post
after you submitted the docs at 1800 euros successfully the account is verified and there will be no further distractions.

Note: for US Paypal account you'll need a US bank account to withdraw. If you open a Paypal in NL any EU country bank account and Switzerland can be attached.
Ohh thats really helpful.
Bank account has to match with Name on Paypal to be able to withdraw please?




Quote:
Originally Posted by GreenBean View Post
The methods are different.

For the EU, the request is for anti-money laundering regulations.

For the US, paypal needs to comply with IRS tax regulations.

For these paypal must issue a 1099 form. Currently, the threshold is 200 items & $20,000. Paypal does request info on projected sales.

If you are selling on US ebay & paypal, you would get a TIN as a foreigner.

Good to know! From who are you getting the TIN number? from ebay or Paypal directly?
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Old 08-09-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

Nothing like a TIN comes from ebay/paypal.


Here is some info for you.

https://www.irs.gov/individuals/inte...on-numbers-tin

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Old 08-09-2018
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Default Re: Receive above 20,000 USD/EUR, what's next?

Quote:
Originally Posted by GreenBean View Post
Nothing like a TIN comes from ebay/paypal.


Here is some info for you.

https://www.irs.gov/individuals/inte...on-numbers-tin

Thank you for this information.

But now my question is:
If you have a stealth account, so how to request this as the data are not real?

Last edited by madonna7878; 08-09-2018 at 08:51 AM.
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