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Old 11-20-2018
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Default Paypal is limited. I do have an EIN, should I use it?

I got limited 2 years later. The address and name I have with Paypal account is made up. I opened up a single person LLC 2 years ago with my personal details, but the address and the name is obviously different than the made up one used for Paypal.

Can I still submit that EIN? I do have close to 4k in that account, so at this point, I rather pay taxes rather than to abandon the account.

Thank you,

Last edited by Inter1010; 11-20-2018 at 03:49 PM.
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Default Re: Paypal is limited. I do have an EIN, should I use it?

So, it looks like they are only asking for EIN. Provide them the EIN and stop using the account until next year and hope that they don’t sens 1099k so IRS doesn’t see mismatch info?


Quote:

Because you receive payment for goods or services through PayPal, we need to confirm your taxpayer status. This verification is required to comply with US. Internal Revenue Service (IRS) as well as State tax reporting requirements.

If your taxpayer status isn't confirmed, your PayPal account will be limited, and you won’t be able to request or receive money.
If you’re subject to U.S. tax reporting requirements, we’ll also need to collect your tax identification number and also ensure that your business type is correct within your Profile (Business Information section) to prevent reporting issues in the future.
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Default Re: Paypal is limited. I do have an EIN, should I use it?

Update: Changed the Paypal from Personal to Business because it wouldn’t give me the option to a EIN. After I added the EIN, it asked me for photo id but the notifications on top right disappeared, and I was also able to transfer 2K.

Is this good or nah?
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