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Old 02-21-2012
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Default Reporting tax on stealth account with valid SSN

I understand after you hit a certain number of sales or a certain $ amount you may be required to file taxes. My paypal stealth account has all valid info and even a valid ssn (not my real info) but all the funds are transfer into a bank account with my real name/info on it. I use my ebay and paypal for a legit business i run so filing tax on these sales ive made must be done. If paypal reports the sales to the IRS im guessing they report the name on the paypal account which is not me of course and if so how would i file taxes on an account i make money on but not in my name?
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Old 02-21-2012
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My paypal stealth account has all valid info and even a valid ssn (not my real info)

Just great, using a friend's info again. Come tax time, someone's going to have one less friend.
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Old 02-21-2012
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Dude I would close that so called "stealth" account right now and open a real stealth account. That account is not a real stealth account. Anyways, Congrats you just made a innocent person pay more taxes or just got someone into lots of trouble.

Why dont you just start a LLC and attach your own EIN onto a new account. That way nobody gets into trouble come tax season.

File taxes with a tax preparer, or better yet a tax lawyer. I have a feeling you will need to skip an accountant and go straight to a lawyer. Why didn't you put your so called business' EIN number into the paypal account. Your F***ed....only thing I have to say.
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Old 02-21-2012
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A ste.alth ssn account...your head is in the clouds.
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first i hope you had permission to "borrow" that ssn, if not, identity theft is serious, google it

second you might want to think about hiring a tax pro to help your friend file since you just screwed him/her. then i would pay them the difference between what they would have gotten back and what they will have to pay in now
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Old 02-21-2012
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You need to take professional tax advice.

Your plan is so out of order with the use of that SSN.

Forum does NOT advise on taxes .

You earn money, you pay taxes.

End of story.
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