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Old 08-30-2011
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Default question about the 20,000 limit?

hello
i have around 17,000 in sales so far this year and paypal is asking for my ss or tax id number. if i keep going and reach around 19,500 and shut it down for the rest of the year will i be in the clear come january 1st to start over again? will they shut me down before i get to 19,500? thanks
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Old 08-30-2011
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From what I know, as pp have already asked you for additional information, if you do not provide it, they will close you down anyway.
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Old 08-30-2011
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If you do not provide it you account will be a goner.

I would not sell anything on that account and would not leave any money in it either unless you can provide the tax id.
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Old 08-30-2011
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well that is not the answer i wanted to hear. i just assumed they would ask and not do anything till you hit the mark.
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Old 08-30-2011
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Just let it go and make your business legit and get the EIN. Not hard and you need to report your earnings anyway.
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Old 08-30-2011
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Just save your write offs and you should be fine. Or go off shore :D
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Old 08-31-2011
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Do you have other accounts up and running to keep the cash flow coming in?

Let this rest or better yet as King said get your EIN because the best selling season is coming up and you wont want to miss it.
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Old 08-31-2011
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Got the same message 3 weeks ago and have continued clicking "remind me later" and its business as usual. I will only add the EID when I have to. Dont be too too concerned, people will have you thinking the sky is falling.
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Old 08-31-2011
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do we have this 20,000 limit in eaby/paypal UK aswell???
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Old 08-31-2011
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No

...
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Old 08-31-2011
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wow great.
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Old 08-31-2011
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Quote:
Originally Posted by cruiserdaddy View Post
Got the same message 3 weeks ago and have continued clicking "remind me later" and its business as usual. I will only add the EID when I have to. Dont be too too concerned, people will have you thinking the sky is falling.
I havent read any panicky posts about this being such a scare but okay.

You can hit the "remind me later" all you want. Then after so long you will get the email saying that you are suspended until you post it. That is a fact so let it go and see.

Its not a problem though as all you have to do is post it and your account is back. That too has been said on these forums by myself as well clearly for all to see.

The people that post that scare stuff know nothing about EIN ro SSN in business accounts. You can see which posts a plain speculation pretty easily.
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Old 08-31-2011
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Quote:
Originally Posted by KingRay View Post
I havent read any panicky posts about this being such a scare but okay.

You can hit the "remind me later" all you want. Then after so long you will get the email saying that you are suspended until you post it. That is a fact so let it go and see.

Its not a problem though as all you have to do is post it and your account is back. That too has been said on these forums by myself as well clearly for all to see.

The people that post that scare stuff know nothing about EIN ro SSN in business accounts. You can see which posts a plain speculation pretty easily.

Listen to King Ray, he knows his stuff!
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