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Make sure your Tax ID info matches 100% to the "T"
 

I got a small limitation today on a very large account that I have. My main one. They said that I need to submit some info or make changes. Any changes though had a link to send in docs.

I got on their site and it said that I need to update this today to avoid limitation.

The problems was I had my name as a nickname on PP instead of my full name with the IRS.

Then I had a hyphen in the middle of the business name with PP and not with the IRS.

Those small issues probably triggered this from what they said on the phone. I have to send in all kinds of crap to fix this now and then it goes to a review within 48hrs.


The guy was very nice though so I was asking questions. He said that the updated some Software to locate small issues like this to avoid the thousands of Tax ID's that will surely get returned back to them for technical details being incorrect. His words "They just want to get those issues nipped in the bud now before it turns into a problem later.

Anyway, thought you would like to hear that crap. Sounds like they may be tightening this Tax ID stuff up earlier than I expected.

What what you do with dealing with that Tax ID stuff as I have said a hundred times now. It will bite you

The business name you supply would have to match exactly to the IRS records. This has been said for a long time.

Paypal can only do a verification check. That means does that the business name has to match the EIN number exactly. Any slight difference will cause it to be rejected.

That is actually what I myself has been trying to tell people on here for months But also said that variations of names (Persons name) would work as well. Now that is not the case if they go by what they did today on me.

My business name was off by a hyphen. The responsible person on the business should have meant nothing to them. In this case it did.

That is mainly what will be and issue for some. the business name being the same is given. the other has been an issue that has been in a gray area.

As usual thanks for sharing your info Ray.

Good stuff.

So is this an LLC you are using or a sole proprietor for the EIN you entered. I have not has any issues with ebay, but as far as amazon goes. Will the name registered have to match perfectly as well. Many people have said the EIN numbers are simply checked to make sure they are valid

I have been away from ebay for quite a while.

So does this mean if I have 100% correct tax id info paypal will leave my account alone?(and not aks for ssn$?

If the tax info for the EIN # matches up exactly then Paypal will not ask you for tax reporting information anymore. Now at some point they may get a wild hair up their sleeve and still want a SSN# for the name the account is registered under. When it comes to Paypal a good rule of thumb is to expect the unexpected.

Need little clarification
 

Kingray,

I was reading all your past posts as GreenBean had recommended it in another post to another member. When applying for Ein, I know I will have to supply business name and such. I am a sole proprietor that needs an EIN for PP. Right now, my PP name is exactly my middle and last names. But from my understanding, since there is no way to change my PP name, I cannot give PP this ein for this account? Just trying to clarify as I don't want to get more than 1 ein.

Thanks

Okay, I've been reading alot of your posts and they do share some insight with PayPal and the IRS.

MY question is this, I have not sold over $20,000 USD let alone get 200 payments/transactions for online sales. I have purchased many cool items off eBay but not sell more then what's required to trigger a SSN request for tax/IRS.
Has of late I've heard that PayPal has been on the front line looking to obtain the information from users despite not hitting the required transactions or dollar amount. So i ask this, what if i do not sell anything else and wait until the first of the year will PayPal still be demanding SSN or banned the account for nothing? This sucks and i know i have not made $20,000 on PayPal for that matter.

What are my real options in saving the account? The account is in my girl friends name. I've had the accout for over 1 year and it's been going strong ever since without a hitch and well below what PayPal is trying to obtain. What are my real options now?

so the business name on the EIN must match the business name on paypal?
for ex.
business name on EIN is XXFTT and on paypal i have it as XXFTT.
thats ok?
what about the names and addresses?

I've never bothered with tax stuff. If ebay were to ever limit me for that I would just start over. My best account from years ago barely went over the 10,000 limit before it was banned. How much do you need to make for paypal to look at you differently (from a different angle)?

Yes the business name and address must match exactly

so far i have my real info on EIN....does paypal see that?
its been a week since i put my EIN (after paypal asked me too) and it went through.

my business name will match..but not the address....when does paypal check? if do my taxes?

keep us posted on this one. I have heard that they do check to see if the address matches that where the ein is registered and if they did that it sounds like yours wouldn't pass. Since its been a week though you may be in the clear. Although with pp you really never know

I know your business names match. What did you put for the person? Does it match your business info?

thanks for the info.
i heard that PP checks...but only if it matches.
the info i have on paypal and the EIN wont match.
only the business name.
i had no choice..pp basically said 'give me SSN or EIN'
on EIN.. you cant falsify info..thats all on IRS and on record.

I will weigh in on this more in the next day or so. I have been VERY ill and pretty much out of commission now for nearly 2 weeks.
Sorry for all the PM's that I have yet to answer as well. I will make sure I reply to each and very one soon.

Thanks Guys/Gals.

Chevyman - So you added it and kept going about your business as usual? Did paypal say that they approved it or something to that effect?

Kingray - We're all anxiously awaiting your wisdom. Keep us posted!

yes id like to hear kingrays wisdom also!

@jarmiz..yes...i added and im still doing business as usual. from whgat i saw paypal approved it.
no 'pending'or anything. i even got a conformation email saying ' thank you for submitting the info on file..blah blah,,,and if we need anything else,we'll contact you'.

Thanks chevyman. That's definitely good to know. I'm waiting for the final word from kingray before i proceed in getting another tax id # etc.

no problem
again its been a week only so who knows yet.

im also debating on creating another tax id with my real SSN but false address and names...that match my stealth paypal info.
but we'll see.

Yes, will be very interesting to follow this thread....

i guess im confused as to how you can get a tax id number using stealth info. if anyone has a walk thru on that id appreciate a pm

Not wanting to encourage identity theft, but SSN seems to be entirely different to EIN. In an SSN lookup, pp/ebay can only see your approximate location and where and when the card was issued. In EIN, however, the IRS can tell them your business name. Am I wrong?

Yes they will eventually ask you to update if the information doesn't match. However you can get away with it for a couple of months once you update.

I have an account with this issue at the moment. I updated online as they requested, purposely misspelling some info and changed it around and after approx 65 days they cane back and asked me to update as something doesn't match. Now I'm gonna ride it and see how it looks after the first.

The issue is that this is the first year that they are enforcing this so many of us do not know the workaround or the answers yet. When the time comes we will know more. However I suspect it will still be hard to get the info from sellers as it will be a kept secret.

so they key is to keep updating? my business name on paypal and my EIN will match? isnt that what counts?

what im saying is that paypal will look at the EIN business name...what about the addresses?
paypal isnt allowed to view the personal info from the EIN..but can only verify if it matches or not?

i have a bank account on my paypal with my real info, but paypal doesnt see it.
thats were my money goes.

The EIN business and address must match exactly. So if you have a stealth address on your Paypal account that must be the same address you supply to the IRS for your EIN.

What I did was use the stealth address when applied for the EIN. Then put in a mail forwarding address with the post office. It worked just fine as when the IRS sent out the confirmation letter it ended up at my house but was addressed to my stealth address.

oh ok.
so far i haven't gotten any conformation from anyone.
i dont plan on making 200 sales or $20,000 so hopefully i wont raise any irs flags.

i will do what you did...when paypal doesnt match the info on file.
ijust hope when the time comes paypal wont shut me down, but just ask me to edit the info.

I have the same situation on my accounts, how do you go about getting the USPS forwarding service?

i think the usps fowarding can be done on their website.

for my situation..i dont plan on exceeding $20,000 in sales any time soon but i have sold about 160 items in a calender year.
this february will be 1 year i been on stealth ebay. by that time..the calender year should start over for me and maybe paypal wont poke around to much.

also...since paypal hasnt blocked me or sent any follow-ups since i gave them an EIN...im going to wait until paypal send me an email saying 'info doesnt match'

im going to create a new EIN with stealth info...im not looking toget in trouble with the irs...just gonna foward the stealth address to my real address.
my business info on the irs will be the stealth info..whereas the mail comes to my address..

You go to the post office and get the mail forwarding forms. Fill them out and turn them in. Pretty simple.

In order to do it online they need a credit card to verify the address you are trying to forward from.

If you do the card you get at the post office you don't have to supply anything to them.

@cardfelon...its been 2 weeks since i gave paypal my ein. my business name matches but not the addresses...yet paypal accepted the information.
is this normal? if the info didnt match, wouldn't paypal have just told me from theday i gave the EIN?

I have provided my EIN 3 months ago without problem and address does not match. After $105,000 in sales they requested EIN 2 weeks ago because they could not verify it. I have two other accounts as well that I have supplied EIN but they have less then 30k in sales and they have NOT requested me to update EIN as of yet. I think very soon they will on all.

I know in early 2012 I will be sent a 1099-K form to file my earnings with the IRS with another none PayPal related merchant account/payment processor I have. My question is really just wanting to know if using my SSN vs an EIN is going to benefit me with writing off alot of my business expenses? I've saved alot of my sales receipts from the supplies I've purchased in addition to any major purchases i see fit for the business i do. So what exactly would you guys recommend? I don't mind doing my part and paying taxes but i want to also be able to write alot of stuff off in order to pay less taxes. Has the new year 2012 closes in i sure want to be making the right choices before hand in order to avoid problems. I'm thinking If i can get the same results by simply using my SSN then great! If it's going to benefit me more to be able to write more expenses off then i need an EIN or would it not really matter? What is the best route to follow in order to benefit the most but also not avoid paying taxes but pay less in taxes?

I don't use Paypal with my Ebay accounts so I can't say for certain what the answer is. But I would think that if they had a issue with the information you provided then they would have contacted you.

All of my EIN experience comes from Amazon and other sites.

this all good info

i think my mistake giving an EIN with my real info.it wont match my paypal info.
im in the process of creating a new EIN with stealth info and have the irs stuff fowarded to me.

question....
when paypal tries to match the EIN...what then? will they ask me simply to edit the info?or will i have to send them proof of identity?

What happened to me is when I log in everytime first thing that comes up is to update my tax info. You click update and it takes you to a new page where you can input the new EIN.

I think this thread should be moved into subscription section. :)