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Old 08-05-2011
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Exclamation Need to enter EIN on PP account will it cause suspended ebay account to link be lmtd?

Hi, I'm new here and have searched many other threads for over an hour now but can't quite find the answers I am looking for.

I am using a stealth bay & pp id but now am approaching the 200/$20,000 limit so I have to put in an EIN number which I have from my online business. I have a personal account with PP now and my business is a different name, (my real business name was suspended by the bay for a stupid reason).

I really don't want to use my ss# because then they will see I am not who my name states I am. My EIN is also under a different mailing address than my pp/bay account is. Will that tip them off?

I read on a thread that I needed to change my personal pp account to a business account and have it be the same name that is on my EIN but I already have a business account with PayPal with that business name. The IRS will only issue on EIN number for a sole proprietor no matter how many businesses you own.

I am afraid that PayPal will shut down all of my accounts and that would stop me from selling on my own site and on the other selling sites. I only sell authentic items.

PayPal called my bay/pp phone and left a voice message saying info about the IRS and to please return their call at ------ Pin number ---.

I am now scared! What do I need to do? Please help someone!
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Old 08-08-2011
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Can nobody help? What are good alternatives to PP?
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Old 08-18-2011
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I just received the same notification. I am going to try and sell as much as I can before they shut me down and switch to a new account. I am still going to pay taxes on what I sold, I just don't want PayPal having my personal information. I don't want to provide an EIN because I have to use real information. I'd rather stay 100% stealth in the eyes of PayPal. They don't care about us or our families, so I'd rather keep them in the dark.



Quote:
Originally Posted by sickofbaypowertrip View Post
Hi, I'm new here and have searched many other threads for over an hour now but can't quite find the answers I am looking for.

I am using a stealth bay & pp id but now am approaching the 200/$20,000 limit so I have to put in an EIN number which I have from my online business. I have a personal account with PP now and my business is a different name, (my real business name was suspended by the bay for a stupid reason).

I really don't want to use my ss# because then they will see I am not who my name states I am. My EIN is also under a different mailing address than my pp/bay account is. Will that tip them off?

I read on a thread that I needed to change my personal pp account to a business account and have it be the same name that is on my EIN but I already have a business account with PayPal with that business name. The IRS will only issue on EIN number for a sole proprietor no matter how many businesses you own.

I am afraid that PayPal will shut down all of my accounts and that would stop me from selling on my own site and on the other selling sites. I only sell authentic items.

PayPal called my bay/pp phone and left a voice message saying info about the IRS and to please return their call at ------ Pin number ---.

I am now scared! What do I need to do? Please help someone!
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Old 08-18-2011
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If you dont enter a EIN then you are going to constantly run into this issue.
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Old 08-18-2011
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I have been researching this same topic for hours and from what I gather is that some members have several stealth accounts and keep track of the revenue and expenses to stay under the 200/$20,000 in their accounts. One question I have is, can you have multiple EINs (one for each account)?

Kingray had some great input in this matter, but I did research on IRS.gov and got the impression that you can only have one EIN, but multiple DBAs (in our case for each stealth account). I may have not understood it though.

BUT I think it is essential to find a good accountant and ALWAYS pay taxes.

My other question is, do accountants or even the IRS care about where the money comes from? It was touched on a bit in other threads, and I think that if you find a good accountant you can just provide him/her with the documentation of purchases, expenses and revenue from PP or your bank and that will suffice?

let me know if im wrong.
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Old 08-18-2011
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^^^

To do multiple EIN's you would need a completely different business entity for each. Thus separating everything from sales to real estates.

Tax and legal help is a must for multiples as sky said. Do it right and it will be smooth and have less stress.
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Last edited by TGMT²; 08-19-2011 at 01:54 AM. Reason: quoting entire post
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Old 08-19-2011
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Quote:
Originally Posted by skyhigh View Post

My other question is, do accountants or even the IRS care about where the money comes from? It was touched on a bit in other threads, and I think that if you find a good accountant you can just provide him/her with the documentation of purchases, expenses and revenue from PP or your bank and that will suffice?
Accountants usually dont care, but if you are doing something illegal, they can snitch you out to the proper authorities. They are not binded by attorney client previlege. On the other hand, if you get audited by the IRS, they will ask how you are coming by this income, if you cannot prove you came by it by legal means, they can tip off any other number of government authorities to your probable activities thus opening up a whole new can of worms. I will tell you this, once you file DBA's, S Corp, sched C, EINS, and any other number of exotic income tax forms that the IRS deems ripe for abuse, you will surely get their undivided attention. If everything is on the up and up, you have nothing to worry about.
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Cherrqell brings up a good point. I just joined this forum recently and from reading some threads I got the notion that some stealths may not pay taxes and break trademark violations or sell counterfeit merchandise. I do not sell ⊗⊗⊗⊗ Ipods or counterfeit items from aliexpress or anything like that. My items are authentic from the U.S. with supporting documents. I would say that there is nothing illegal that I can see with what I do. My stealths may not have longevity, but they are actually my real name or nick name. I use a real physical address that I own (storage unit, mailbox, etc). My phone number is real and belongs to me (be it call forwarding or prepaid phone). Bank accounts used are real name and belong to me under my SSN. And even the Credit Card number is mine (prepaid-bought it legally from CVS/Walgreens etc.)

I joined this forum because I felt there was injustice from ebay banning me indefinitely because of VERO (indefinitely banned for $25.00 body lotion i purchase from the company!). I even sent a proof of purchase to ebay and to the company that flagged me. Of course as we all know, they did not care and was not willing to hear my side of the story. I figure many on this forum have similar experiences.

But from what I understand, there should be nothing illegal from creating a stealth account if you do it right because all the info can be your real info (name, number, address, cc). I do not make up names or addresses or phone numbers. I own all of that information, and it belongs to me. I just wonder from an attorneys perspective it may look like a shady business on the surface.

Sorry for the long rant but as some of you may agree, I don't want to be deceitful with my methods and create ebay account after ebay account every day or have 5 minutes of glory then get shut down- I want to be on for the long haul. I want to have a legit operation following the rules and laws. I figure it is easy to make money quickly buy cheating the system or being a dishonest seller. The real trick to me is having a legit business by following the rules and making money honestly. After all, I have a family to take care of.
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The key is once you receive the required we need tax id email... is to make sure you don't go over 200 or 20k whichever it is. Supplying EID's to 5 paypal accounts will get them closed down fast, so it's not about avoiding taxes, which as everyone says is terrible and all that stuff.. But, it's about making your account last. 200/20K or less and you don't need to give them a bit of personal information. That's is being stealth. If you disagree by all means give them what they want.But, for me. I am not giving them my EID I will just stay below the thresholds, not because i am not paying my taxes (which i do) but, because i want to keep my stealth clear
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Old 08-19-2011
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As long as you explain, if you have to, that in order to do business, you had to create creative ways of doing business in the shark infested waters of ebay, and Amazon, and you can prove all your purchases, expenses, and profits in any stealth name you are doing business as, the authorities will not really care as long as all your profits are declared, and they receive their cut. Like I said before, if everything is on the up and up, by going stealth with a few accounts to do business, you haven't broken any laws. At least none I know of. So rest easy, read, and re-read the Amazon Ghost, and eBay Stealth guides, create a bunch of new accounts, make tons of money, attain mega feedbacks, and make us proud.
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The bottom line is... they receive their cut. That's what they care about, too bad eb and pal l pal wasn't in that same business? Huh.. who'd a thunk it, the goverment actually does something right over eb pp
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Old 08-19-2011
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Moscutter, i gotcha, that makes sense to me to make it to the threshold so I can stick it out as long as they will let me. And ya I do not know much about the EID's, so i probably wont mess with it yet anyway until I learn more. I think thats a great method of just using the accounts I got as long as I can.


Cherrqell, good point I figure the authorities will not care especially if I am honest and declare ALL my profits. I am sure I could come up with several ways to make this last, because most everyone who wants to make the money diversifies and does many different things because all the competition, so I will rest easy and see where this takes me. Thanks for all your guys help!

I sure am glad to have your experience to learn from!
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