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Old 11-28-2010
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Default How many paypal transactions or much gross?

Now that paypal is going to send info to IRS, are they going to require a SSN at 200 transtions and limit our accounts?

If so should we stop at 199 transactions or does paypal normally set limitations before that point?

Is there a certain $ point they set limitations?

If anyone knows it would be a great help.
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Old 11-28-2010
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Did you try Google or the forums search option? It's real easy.

Had to be an ass, you set yourself up. Anyways, these questions have been mentioned plenty of times on this forum and it's so easy to find the answer to your questions with a single search on Google, just fyi.

They will require a SSN with transactions that meet or exceed $20,000 in sales AND 200 payments received in a single year

We still don't know how this will be enforced or if staying under that limit will be safe. imo, if you stay under $20,000 you'll be safe. I don't think the number of transactions matters as much as that $20,000 mark.
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Yep. I knew that. I guess my question was more of asking if anyone knows how strictly it will be enforced.
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I would imgaine very strictly. It's new legislature that was thrown in with some housing act a few years ago. It's not just for paypal.... google checkout, ccnow, bluepay, ALL of them will have to do this reporting.

It's the IRS getting their grubby hands in everything, very typical.
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