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Default Changing From SSN To EIN

A few months ago I purchased some eBay/PP accounts from a seller that have SSNs attached to them - I have reached out to the seller to find out more about them but he has disappeared on me. So now my main priority is getting away from them by either never using them again, converting them to business accounts with EINs or creating new PP accounts completely.

I'm quite sure if I start a new PP account after a day or two, PP would start asking for invoices/proof of delivery etc since I am a dropshipper - so I was thinking just convert them over to business.

For those of you with some experience in this, how would you proceed?
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Default Re: Changing From SSN To EIN

Paypal remembers everything,so those SSN will stay with you !
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Default Re: Changing From SSN To EIN

You should be OK as long as you NEVER go above 200 sales AND $ 20,000 in annual sales. Doing so would cause the owner of the SSN to be on the hook for taxes. That's identify theft on your part, a felony. Be very cautious and start making replacements so you can dump these accounts before you get in big trouble.
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Default Re: Changing From SSN To EIN

Good point. I think the best course of action might just be to dump everything.

Last edited by JackedYoshi; 4 Weeks Ago at 07:50 PM.
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Default Re: Changing From SSN To EIN

Quote:
Originally Posted by Steveo036940 View Post
You should be OK as long as you NEVER go above 200 sales AND $ 20,000 in annual sales. Doing so would cause the owner of the SSN to be on the hook for taxes. That's identify theft on your part, a felony. Be very cautious and start making replacements so you can dump these accounts before you get in big trouble.
You do understand you are on the hook for taxes regardless right? The IRS just does not get a 1099.
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Default Re: Changing From SSN To EIN

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Originally Posted by Leader2dark View Post
You do understand you are on the hook for taxes regardless right? The IRS just does not get a 1099.
Absolutely. It's best to pay taxes on all sales. That said, the owner of the SSN in question would not receive a 1099k and would not owe any taxes (he or she didn't sell anything), therefore would not be screwed if the account never reaches the sales requirement for a 1099k to be issued.
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Default Re: Changing From SSN To EIN

if IRS does not get a 1099k,the only way it will find out is someone reports you or you get audited and the auditor noticed you are selling and receiving fund .
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Default Re: Changing From SSN To EIN

Steve or Agent, can one of you PM me please?
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