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Paypal Tax ID request question
 

Hey guys,

I do not do any selling on ebay...only on my personal site....

I had a paypal account in my real name shut down indefinately about 3 years ago or so...

So about a year and a half ago I made a paypal account using a ****name, but with the same address(and by a stroke of luck got them to remove the limitation when a flag came up about my address being the same as before) and then did the whole business verified thing...so I have a business verified account with a ⊗⊗⊗⊗ personal name...

I recently got the request for a TAX ID because the new IRS rules and such and here's the dilemma...

I have a EIN number as a Sole Prop that is in the Same Business name and address that match my business name and address on my paypal business verified account...

Problem is my personal name on paypal is ****....

So my question is this....THE IRS told me that they do not release my personal name attached to that EIN to anybody including paypal...

So would I just be ok entering my EIN into Paypal and since the business names and addresses between the IRS and paypal match up that it would be ok?

Or will having that ⊗⊗⊗⊗ name on my paypal account cause problems when paypal reports income to the IRS? Will they send my F*** personal name to the IRS instead of just filing it under my business name and EIN which match up?

Any ideas on what to do?

entering your EIN is your only option (as was for me), so you need to do this if you want to keep your current paypal. if not then you will create another paypal and keep going through this hassle. Whatever name/address/ss# you used to create your EIN, will be where they send the paperwork, etc., so that is what you will use to file your taxes. I just did this about a month ago, so I am kinda new at this as well.

Anyone with any knowledge on this?

All paypal will report is your sales under your EIN # and business name. The name of the user means nothing to the IRS> THey have the SSN of who obtained the EIN in their system. You are fine. That is how its done on all my accounts

Exactly. SS# is the key here for paypal to comply with the IRS.

But they will match the EIN address with your address on PP & bay right? Mine are 2 different ones, that's why I signed up with pro py. I was afraid that the EIN name wouldn't match what the IRS has nor the address.

Will adding the same EIN to multiple paypal accounts with different names link the eBay accounts attached to the paypal accounts? Thanks

So what your saying is that IF my addresses with the IRS and Paypal Business Verified account are the Same and the Business Names are the same if my unreal name on Paypal is Bob Jones and my real name with the IRS is Joe Smith....then it will not cause any issues? (also not my EIN is listed as a Sole Prop)

IRS will not release ANY personal information pertaining to the EIN number. It is a felony. They cannot reveal names, addresses, etc...

PP will link the accounts together if using the same EIN number. All the accounts will become linked at that point. An EIN is not just like a name or address. People can change names, addresses, etc. You cannot change your EIN number. You get one per life.

COrrect, you cant use the same EIN for each account. That will link them all and besides they probbaly wont accept it for multiple accounts anyway.

SInce you have multiple account have you spoken to a business attorney or business accountant that specializes in online sales? if not you need to.

One EIN per life? Then how do people here have multiple?
 

How is it that people on here say they have multiple EINs?

@Kingray:

So what your saying is that IF my addresses with the IRS and Paypal Business Verified account are the Same and the Business Names are the same if my f@ke name on Paypal is Bob Jones and my real name with the IRS is Joe Smith....then it will not cause any issues? (also not my EIN is listed as a Sole Prop)

That is not entirely correct... I have numerous EIN's. All it requires is a change in business status or you're *starting* a new business as an addition from an existing business.

That might be true but the point I was trying to make is that you can't change an EIN number. It is like a SSN. Once you have a SSN, you can't change it. It is yours for life. That is true for EIN numbers.

That's what they have more than ONE of the EINs. In other words each account has an EIN, ergo multiple EINs :pop2:

If you have numerous EIN's then you need to speak with a professional. I would love to hear what all you have to say on these forums around april next year. It wont be pretty. You can say BS all you want but we will see.

When I submit my EIN to paypal considering my EIN is a sole prop. Can I put the DBA of my EIN number in there instead of my name?

As stated above I have a paypal and EIN info that matches in every respect except for my my real name and the ⊗⊗⊗⊗ one that's on my PP account...

Since mine is a Sole prop can I get away with putting my DBA into paypal along with my EIN number instead of my real name?(which doesn't match my paypal name btw)

Just put your real name in. You have to or it will not accept it. It must match your SSN. What will happen is you will get letter later denying it. YOu may pass the online setup but it will fail later. Tried it already.

To ensure you make the correct choices regarding IRS & taxes & the usage of EINs see a tax accountant. thanks