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Old 11-08-2012
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Default PPal asking for tax info. Now i have some Q's

I've got an eb ay account setup using a friends name and address. he did not give them his SS#. I've been selling under it for 20 months now, and all is going well. Feedback at about 300, and 100%. Limits are at 320, and $8000. All selling has been in the crafts category.

Business has been picking up. The last 2 months I've maxed out my quantity, but not my dollar amount.

Yesterday ppal has started asking for tax ID. No limit has been put on me, but they are politely asking every time I log in. I find this odd, since I'm nowhere near $20K for 2012.

I have my own company, with an EIN. Years ago, I may have given that EIN to eb ay / ppal for an account that's now been banned, tho I don't recall. If I give ppal that EIN, and they have it on record with an old account, I'm sure they'll tell me so, and ask me to "try again". If I make that attempt, might I jeopardize this account? Or is it fine to give it a shot, and move forward?
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Old 11-08-2012
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DO NOT make such a silly move. Instant link and more than likely slam that account quite quickly.
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Old 11-08-2012
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Quote:
Originally Posted by TurtleCove View Post
I've got an eb ay account setup using a friends name and address. he did not give them his SS#. I've been selling under it for 20 months now, and all is going well. Feedback at about 300, and 100%. Limits are at 320, and $8000. All selling has been in the crafts category.

Business has been picking up. The last 2 months I've maxed out my quantity, but not my dollar amount.

Yesterday ppal has started asking for tax ID. No limit has been put on me, but they are politely asking every time I log in. I find this odd, since I'm nowhere near $20K for 2012.

I have my own company, with an EIN. Years ago, I may have given that EIN to eb ay / ppal for an account that's now been banned, tho I don't recall. If I give ppal that EIN, and they have it on record with an old account, I'm sure they'll tell me so, and ask me to "try again". If I make that attempt, might I jeopardize this account? Or is it fine to give it a shot, and move forward?
They will not tell you to 'try again', they will tell you to get lost. Make multiple stealth accounts and avoid this for the future
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I'm surprised Paypal hasn't asked sooner since your doing so many sales.
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Old 11-09-2012
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Do NOT use any old info - keep it clean and operate well.
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Thank you all for the input. I will indeed get a new EIN.

I believe I've seen posted up here, some sort of legal site that allows me to apply for a EIN. Can someone share that with me, again?

As for ppal not asking sooner, I thought the general rule was they don't ask until you start crowding $20K for the year, so why are you surprised? Am I wrong?

I suspect ppal will freeze my money soon, since they are asking for a EIN every time I log in. Anyone know how long it takes to get one from that online service?
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Originally Posted by slim jim View Post
They will not tell you to 'try again', they will tell you to get lost. Make multiple stealth accounts and avoid this for the future

I do have multiple stealth accounts.
But, I don't mind paying my taxes, either.
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Old 11-09-2012
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Quote:
Originally Posted by TurtleCove View Post
I do have multiple stealth accounts.
But, I don't mind paying my taxes, either.
one thing has nothing to do with the other. i never said do not pay your taxes. you said you want to use info from a banned account, this is a no no. very simple.
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Can someone confirm....

When I give ppal my EIN, they don't see the company name, nor my name. True?
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Old 11-09-2012
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If your operations are getting large, get a tax consultant going.
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Originally Posted by TurtleCove View Post
Can someone confirm....

When I give ppal my EIN, they don't see the company name, nor my name. True?
EIN must match company name with paypal
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Old 11-09-2012
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I suggest that you take care of this issue as soon as possible. They are surely asking you politely now every time you log in but soon they will limit your account and you will not be able to receive any payments until you provide them with SS.
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Quote:
Originally Posted by slim jim View Post
EIN must match company name with paypal
I don't understand what you mean.

Let's assume my real name is Joe Blow.
Let's assume the name on my eb ay account, and my ppal account is Jack Frost.

I need to go make a company, and get a EIN. So, I make company xCraftx, and register it with Joe Blow, with the IRS. Now I give that EIN to ppal. Ppal only sees the EIN and xCraftx. They won't see Joe Blow (can someone confirm this?) if PPal asks me for my company name, as well as the EIN, of course I'd tell them xCraftx. But, I'm assuming ppal will never see Joe Blow, even tho I registered Joe Blow with the IRS.

Have I got this right?
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Quote:
Originally Posted by TurtleCove View Post
I don't understand what you mean.

Let's assume my real name is Joe Blow.
Let's assume the name on my eb ay account, and my ppal account is Jack Frost.

I need to go make a company, and get a EIN. So, I make company xCraftx, and register it with Joe Blow, with the IRS. Now I give that EIN to ppal. Ppal only sees the EIN and xCraftx. They won't see Joe Blow (can someone confirm this?) if PPal asks me for my company name, as well as the EIN, of course I'd tell them xCraftx. But, I'm assuming ppal will never see Joe Blow, even tho I registered Joe Blow with the IRS.

Have I got this right?
You are correct. All you have to do is upgrade to a business account on paypal and provide them the name of your company and your EIN number. Paypal will not be able to obtain any information to whom the company is registered to.
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Quote:
Originally Posted by TurtleCove View Post
Thank you all for the input. I will indeed get a new EIN.

I believe I've seen posted up here, some sort of legal site that allows me to apply for a EIN. Can someone share that with me, again?

As for ppal not asking sooner, I thought the general rule was they don't ask until you start crowding $20K for the year, so why are you surprised? Am I wrong?

I suspect ppal will freeze my money soon, since they are asking for a EIN every time I log in. Anyone know how long it takes to get one from that online service?
I think it's surprising because I have seen paypal ask for tax ID at 160 sales and 5k in sales, but it all depends.
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quote:

Anyone know how long it takes to get one from that online service?

Kind of depends on pp and their decision depends on what you sell, limits, etc...too many factors for a non-employee of pp to identify. Best advice is to start spreading sales
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Old 11-11-2012
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Quote:
Originally Posted by Impact View Post
You are correct. All you have to do is upgrade to a business account on paypal and provide them the name of your company and your EIN number. Paypal will not be able to obtain any information to whom the company is registered to.
Friend got a small business/EIN and thinking of opening an Amazon account with it.
**But does the name of small business thats on the Amazon account (ie, TOY SHOP) need to match the exact small business name thats registered to the bank (ie, "TOY SHOP" on a Bofa account)?
**Another thing is that Bofa, for example, from what I'm reading on their website allows checking/savings and small business accounts, but the small business accounts are for Credit Cards (isn't a debit card account more useful for our purposes?)
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Old 11-11-2012
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quote:

But does the name of small business thats on the Amazon account (ie, TOY SHOP) need to match the exact small business name thats registered to the bank (ie, "TOY SHOP" on a Bofa account)?

Not for deposits
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Quote:
Originally Posted by rsot View Post
quote:

But does the name of small business thats on the Amazon account (ie, TOY SHOP) need to match the exact small business name thats registered to the bank (ie, "TOY SHOP" on a Bofa account)?

Not for deposits
Not sure if you guys know about the cc processor "Square" (ppl use their apple ipads and iphones and swipe cc cards using "Square") -- Friend had his wifes name registered to the Square account "Jane Smith" and deposited to his Chase bank account "Joe Smith" -- It worked for 3 deposits approx. $1000, then on the 4th transaction he received an email from "Square" saying that due to suspicious activity, everything is shut down.
***Did this happen due to the name difference? I am asking b/c "Square" is a third party cc processor, probably functions the same way as a PayPal or Amazon when depositing to banks.
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Old 11-12-2012
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No its NOT the bank shutting it down - its Square - they are harder on the deposits to bank. I have a suspicion that part of it is activity BUT also part of it is when they withdraw your fees from the bank, they check the name coming back...
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Old 11-13-2012
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...On the topic of tax info for stealth or ghost accounts, what happens if you do not provide Eb or Amazon with your tax info? Has anyone actually had an account get banned yet, such as a PP getting shut down since no tax info was given?
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Old 11-13-2012
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Quote:
Originally Posted by hapajenn1 View Post
...On the topic of tax info for stealth or ghost accounts, what happens if you do not provide Eb or Amazon with your tax info? Has anyone actually had an account get banned yet, such as a PP getting shut down since no tax info was given?
I had an account that I did not provide a SSN. Every time I logged in, a message was prompted that I should provide them my SSN for tax purposes. At that time I was able to continue on to my home page without any issues. However, after a while once I hit 200/20K, they did not allow me to receive any payments from my customers. Luckily this account was legit and I was able to provide them SSN, which after I open an LLC and got an EIN number and for the tax purposes I gave them my EIN number.
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