Paypal sent me this email. Ignore or respond? - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 10-25-2018
Senior Member
 
Join Date: Nov 2016
Posts: 142
Thanks: 11
Thanked 3 Times in 3 Posts
Activity: 0%
Longevity: 21%
iTrader: (0)
Default Paypal sent me this email. Ignore or respond?

Important - Confirm your Taxpayer Status


In order to comply with your State Form 1099-K income reporting requirements, we need you to provide your Taxpayer Identification Number (TIN).

1. Log into your PayPal account
2. Click on your account settings (gear icon in the upper right corner)
3. Within Account Options, enter your TIN.

Why is this required?

Under the IRC Section 6050W of the United States Internal Revenue Service (IRS), PayPal is required to report the total payment volume received by U.S. account holders whose payments exceed both of these federal levels in a calendar year:

1. U.S. $20,000 in gross payment volume from sales of goods or services in a single year.
2. 200 separate payments for goods or services in the same year.

The information return used by PayPal to satisfy this requirement is a tax Form 1099-K.

State Reporting Requirements

Massachusetts has implemented Form 1099-K reporting requirements that are different from federal tax reporting requirements. These different reporting requirements mandate that PayPal report on account holders who receive payments for goods and services of $600 or more.

To comply with Massachusetts state tax reporting requirements, we'll issue you a Form 1099-K if you meet this requirement. This form summarizes the gross payments you received through PayPal for the sales of goods, or services during the most recent calendar year.

We send this information to Massachusetts tax authorities to comply with respective state tax reporting regulations.

Note:

• PayPal will not report this information to the IRS since the payment volume is below the IRS federal reporting requirements.
• PayPal is not qualified to give you specific tax guidance and asks that you contact a tax professional.
• If you need more information about these specific state requirements, please visit that state tax authority's guidance at the following link:
https://www.mass.gov/service-details...-organizations

Sincerely,

PayPal
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 10-25-2018
Senior Member
Threadstarter  
 
Join Date: Nov 2016
Posts: 142
Thanks: 11
Thanked 3 Times in 3 Posts
Activity: 0%
Longevity: 21%
iTrader: (0)
Default Re: Paypal sent me this email. Ignore or respond?

What should I do? I haven't reached the $20,000 yet on this account.
Reply With Quote
  #3  
Old 10-25-2018
SaiJin's Avatar
Super Moderator
 
Join Date: Jul 2008
Posts: 7,458
Thanks: 228
Thanked 1,122 Times in 944 Posts
Activity: 78%
Longevity: 88%
iTrader: (2)
Default Re: Paypal sent me this email. Ignore or respond?

Give them your EIN.

If that's all they are asking, it should be ok.

If not, come back here and tell us
Reply With Quote
  #4  
Old 10-25-2018
Junior Member
 
Join Date: May 2007
Posts: 61
Thanks: 0
Thanked 2 Times in 2 Posts
Activity: 0%
Longevity: 97%
iTrader: (0)
Default Re: Paypal sent me this email. Ignore or respond?

Is your account based in MA or VT. My account is in VT and received the same mesage this morning. What if we don't have EIN and ignored the email. Will the account be limited and can we still get the money after 180 days. Because these are stealth account
Reply With Quote
  #5  
Old 10-25-2018
Senior Member
 
Join Date: Sep 2015
Posts: 99
Thanks: 9
Thanked 19 Times in 17 Posts
Activity: 0%
Longevity: 31%
iTrader: (0)
Default Re: Paypal sent me this email. Ignore or respond?

Quote:
Originally Posted by bestvipz View Post
Is your account based in MA or VT. My account is in VT and received the same mesage this morning. What if we don't have EIN and ignored the email. Will the account be limited and can we still get the money after 180 days. Because these are stealth account
You can still get the funds if it gets limited, after 180 days. Just make sure you have a bank account on there that you can withdraw to. Make sure you keep the phone number on that account active.
Reply With Quote
  #6  
Old 10-25-2018
Senior Member
Threadstarter  
 
Join Date: Nov 2016
Posts: 142
Thanks: 11
Thanked 3 Times in 3 Posts
Activity: 0%
Longevity: 21%
iTrader: (0)
Default Re: Paypal sent me this email. Ignore or respond?

Quote:
Originally Posted by bestvipz View Post
Is your account based in MA or VT. My account is in VT and received the same mesage this morning. What if we don't have EIN and ignored the email. Will the account be limited and can we still get the money after 180 days. Because these are stealth account
My account is based on MA but I live in TN

Quote:
Originally Posted by flyriver View Post
You can still get the funds if it gets limited, after 180 days. Just make sure you have a bank account on there that you can withdraw to. Make sure you keep the phone number on that account active.
Well I logged into the account so far nothing seems to be changed. No notification within paypal website itself. It was just an email. Ther BA was a digital account so no access to it. If I do get limited and assuming after 180 days I withdraw the money would I be able to send this money to another account? The address and BA is not accessible anymore.


Just to add I got this email on two of the accounts I have on paypal and they are both MA based. But both have not reached even close to $20,000 yet

-----------------------------------------------

Last edited by wkang87; 10-25-2018 at 11:19 PM.
Reply With Quote
  #7  
Old 10-25-2018
Senior Member
 
Join Date: Oct 2016
Posts: 2,430
Thanks: 782
Thanked 806 Times in 598 Posts
Activity: 89%
Longevity: 23%
iTrader: (0)
Default Re: Paypal sent me this email. Ignore or respond?

I also got this email earlier this week on one of my "Boston, MA" PP's that's more or less dormant and has seen little past activity. I'm just going to ignore the request since I don't forsee taking in any payments on this acct for the rest of the year anyway.
Reply With Quote
  #8  
Old 10-26-2018
Senior Member
Threadstarter  
 
Join Date: Nov 2016
Posts: 142
Thanks: 11
Thanked 3 Times in 3 Posts
Activity: 0%
Longevity: 21%
iTrader: (0)
Default Re: Paypal sent me this email. Ignore or respond?

Quote:
Originally Posted by nickopedia View Post
I also got this email earlier this week on one of my "Boston, MA" PP's that's more or less dormant and has seen little past activity. I'm just going to ignore the request since I don't forsee taking in any payments on this acct for the rest of the year anyway.
I have funds in this account and will be taking in some more revenue. Would you suggest transferring this fund to another account? or stop selling from now an on? or should I just simply ignore it.
Reply With Quote
  #9  
Old 10-26-2018
Senior Member
 
Join Date: Oct 2016
Posts: 2,430
Thanks: 782
Thanked 806 Times in 598 Posts
Activity: 89%
Longevity: 23%
iTrader: (0)
Default Re: Paypal sent me this email. Ignore or respond?

Reading this new e-mail, it seems the 1099-K reporting requirements for Massachusetts are really low starting at $600. I would imagine it's still 200 transactions tho + $600, right?

Well, one thing for sure, I will not be making any MA stealth acccounts. I only have this one but probably won't be using it now. Seems these northeastern states are getting more and more greedy with their taxation rules. Screw 'em.
Reply With Quote
  #10  
Old 10-26-2018
Junior Member
 
Join Date: Oct 2018
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 6%
iTrader: (0)
Default Re: Paypal sent me this email. Ignore or respond?

A real Paypal email never opens an attachment unless you are 100% sure it’s legitimate.
Reply With Quote
  #11  
Old 10-26-2018
Senior Member
Threadstarter  
 
Join Date: Nov 2016
Posts: 142
Thanks: 11
Thanked 3 Times in 3 Posts
Activity: 0%
Longevity: 21%
iTrader: (0)
Default Re: Paypal sent me this email. Ignore or respond?

Quote:
Originally Posted by elizabeth005 View Post
A real Paypal email never opens an attachment unless you are 100% sure it’s legitimate.
It doesn't have any attachments, I wonder what made you assume this?
Are you talking about the link? It's a link providing the proof of the statement they were emailing me about.
Reply With Quote
  #12  
Old 10-28-2018
Junior Member
 
Join Date: Feb 2018
Posts: 105
Thanks: 0
Thanked 15 Times in 14 Posts
Activity: 16%
Longevity: 12%
iTrader: (0)
Default Re: Paypal sent me this email. Ignore or respond?

Don't do it.
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How to respond to all your stealth email's on the move! Play Subscriber Discussions 15 08-23-2018 06:04 AM
How to respond to this email... fantem eBay Discussion! 7 12-30-2011 04:21 PM
paypal ignore all email, what u think? latting Paypal Limited 9 09-30-2009 05:59 AM
How to use Cartmanager in listings and ignore Paypal. hingwhh Payment Processing 5 05-23-2009 09:47 PM
How to use Cartmanager in listings and ignore Paypal? digzober Payment Processing 0 07-23-2008 08:16 AM


Aspkin Group

All times are GMT -5. The time now is 12:03 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts