New IRS requirement – take action now

[jackdanielsbtch]

Knew this was coming, getting the same email (pasted below) on multiple accounts here in the US. Any ideas on this? Way to by pass this? Seems like they need your real name. Not sure if they will confirm it matches paypal info or simply just confirm it matches tax paper info.



Confirm your taxpayer status to meet a new IRS requirement

The IRS will soon require anyone receiving $600 in payments for goods and services to confirm their taxpayer status. As someone who's received payments through PayPal, you'll need to confirm your taxpayer status by providing your Tax ID Number to meet the requirement and avoid any disruption to your account.

Enter your U.S. Tax ID Number, your name and your business type if it applies.

Then, if needed based on the amounts you've received, we will use the information you've provided to send you a Form-1099-K in January and share this information with the IRS.

Sole proprietors and single-member LLCs: When confirming your taxpayer status, enter your individual name as it appears on line 1 of your 1040, 1040A, or 1040EZ. If you'd rather provide your Employer Identification Number, submit your Form W-9 together with proof of filing of Form 8832 to taxdocumentupload@paypal.com to ensure that what we provide on your 1099-K matches IRS records.

[yankee]

Your options are.... to enter a Name matching US tax number. Name/ss number or Business name/ein number is the most common and least costly options.

Other option is to move to Russia.

[jak]

Originally Posted by yankee

Your options are.... to enter a Name matching US tax number. Name/ss number or Business name/ein number is the most common and least costly options.

Other option is to move to Russia.

In russia they hit you with a INN, so better to move to Antarctica

[murdered_by_ebay]

Originally Posted by yankee

Your options are.... to enter a Name matching US tax number. Name/ss number or Business name/ein number is the most common and least costly options.

Other option is to move to Russia.

I think it is difficult to find another country with such a nasty tax reporting system as in the US so probably anything beyond US borders would do

[ghackett5]

So come January 2022 they will send you the 1099k for only $600 earned in 2021 or they are still keeping the 20k+200 for 2021.
please clarify

[phaz0rz]

Originally Posted by ghackett5

So come January 2022 they will send you the 1099k for only $600 earned in 2021 or they are still keeping the 20k+200 for 2021.
please clarify

It's for next year's sales.

If they were reporting over $600 for 2021 you would have been required to give a tax ID at the beginning of this year.

Anyway yeah I'm seeing this on all of my PP's now too. R.I.P. Strangely enough even CA Paypals transacting in USD are getting this request but I don't know if it's a glitch. It wouldn't be the first time PP mistakenly asked canadians users for their US tax ID.

[qwrty76]

PayPal Support told me some of these emails were sent out in error, so YMMV.

[SaiJin]

Originally Posted by jak

In russia they hit you with a INN, so better to move to Antarctica

why? They don't charge taxes there? =P

[phaz0rz]

There's no native population so I'd say not.

The internet is spotty though.

[ebaystealth1974]

lol

[JamesNorth101]

Originally Posted by phaz0rz

It's for next year's sales.

If they were reporting over $600 for 2021 you would have been required to give a tax ID at the beginning of this year.

Anyway yeah I'm seeing this on all of my PP's now too. R.I.P. Strangely enough even CA Paypals transacting in USD are getting this request but I don't know if it's a glitch. It wouldn't be the first time PP mistakenly asked canadians users for their US tax ID.

Thats a glitch - had a similar issue in the UK last year

[theintersect]

I think I'll try to confirm it after 2021 is over to be safe

[RichardCard82]

All my Canadian stealth's requested tax payer information back in early 2019, luckily I had a Canadian friend that was able to help with this with some documents. Saved me from losing 7 stealth accounts

Every 2 years they'll ask me to confirm that I'm not a US citizen since I get US deposits... no issues in 6 years

[hercules2]

Originally Posted by jak

In russia they hit you with a INN, so better to move to Antarctica

I have some Russian Ebay accts with no letters or messages of INN requests.

[@NasterXchange]

Originally Posted by jak

In russia they hit you with a INN, so better to move to Antarctica

hahaha
Still I would prefer to move to Russia

[mchammer1]

I was logging in here since I have 2 PP accounts requesting this same information. They are both in the US. So far I can withdrew money to a bank account but I suspect they might be blocked beginning January 2021?
I will not be sending SS numbers for those accounts.

Does anyone know if they may be disabled or limited at the end of the year?

[phaz0rz]

Yes. Since the new law goes into effect at the start of 2022 your accounts will be tax limited then if you don't give taxpayer info.

[mchammer1]

thank you so much for your reply.
What is tax limited? They will withheld 30% of whatever money I receive similar to the banks holding 30% of the interest paid on a saving account when the SS doesn't match?

[gnb00]

Hello, longtime lurker of the forums, finally decided to register an account.

I have a question regarding this: I've been using a US account under my real name/passport but without SSN or Tax ID. I've always stayed well bellow the 200 transactions / 20k threshold, and it is kinda important for my job to continue using this particular account so that I can continue to be paid (I don't sell anything, just receive money for my freelance work with this account because it's a bit convoluted to open an account from my country).

Someone suggested me that I could open an LCC and obtain an EIN under my name, which I could then add to this personal account. They also said that this is something I can even do via certain websites that offer to do all the paperwork for you. Is this information correct? Anything I'm missing?

Many thanks in advance.

[rsot]

Welcome to the forum OP - all the best as you master stealth

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Don't obtain a LCC and EIN via certain websites that charge fees - just do it directly on the IRS website - just clarifying

[triplex]

600$ / year , or 600$/ transaction ?

[gnb00]

Originally Posted by rsot

Don't obtain a LCC and EIN via certain websites that charge fees - just do it directly on the IRS website - just clarifying

Thanks for the heads up, I was led to believe that because I'm not in the US my only choice was to do it through one of these websites. So I can just file everything myself even though I'm not in the US?