Forum

Stealth Account Duration Taxes
 

How long can I have a stealth account before ebay or paypal asks me for my social security number or business license? and if I don't provide them with the information how long can I sell for before they put a hold on my account....thanks

If you get on pace to do 200transactions and $20,000 , you will be limited until you provide tax ID

There's alot of threads on the topic if you use the search here or google.

that's why you need many accounts to spread your sales out or you will risk ebay finding your true identity

Impossible to say.

It is hard to say what or how paypal will react to your business plan.

You have two points to keep in mind.

Both paypal & ebay can ask at any time for ID, invoices regarding your account.

Paypal has another obligation of reporting to the IRS because of tax requirements. In the below thread, the details are outlined.
http://www.aspkin.com/forums/paypal-...-usa-only.html

However, practise has found that paypal may ask for tax info on projected amount of sales. I have added another thread to give you more info.

http://www.aspkin.com/forums/paypal-...ro-2013-a.html

Could I ask you to read these. Then come back to the thread with what you understand may happen? You should do this to get the best advice.
:juggle:

I would suggest you give us an idea of the age of your account, feedback etc to guide with replies.

:juggle:

Depends on what you sell, how you sell, rate at which you sell at...so many factors.

You want better opinion? State your operations a bit more in detail....amount coming in, feedback, your prior activity on the account, etc.

Passed the urban myth of 200/20k long ago on several accounts never got asked for id/ein/invoices ect... I also sell straight to the limit min after making a new account and sell all the so called ban trigger items asap also and nothing bad happens to me ever! Wowzers!

You hear a lot of stuff like this saying your doomed ect...if you do this or don't do that, but no one who says any of those things has any concrete proof to back those boggieman claims/stories up. Funny thing is the "stealth pros" keep getting accounts banned/MC99'ed a lot, lots of post and threads to back that claim up on this board made by them.

I might be newish to this board but I've been in this game a long long time.

Before these tax requirements, you could get asked for an SSN or tax ID because of a limitation that had nothing to do with the tax reporting requirements, keep that in mind.

Bigboddie....Urban myth?

The rest of what you said is absolute garbage. Lets say even part of what you said is true, this board has a ton of members who sell completely different things. Maybe someone is selling NFL jerseys they bought from a store and keeps getting kicked, and maybe you're selling painted rocks. Who knows?

Based on my personal experience and after reading the posts of the other members, what you said is complete garbage. I might disagree with other members on certain topics, but to come right out and say we don't know what we're talking about is quite insulting, and wrong.

The IRS sending a 1099 out after 200 sales and $20,000 is no myth just google it, they now require all 3rd party merchant processors to report sales over this limit so this is fact not myth.

The IRS doesn't play around and big companies like ebay and Paypal know this and are on top of it for their own protection. So as a precaution they don't wait until 200/20000 is broken to ask for tax I'd they ask when you are on pace

IRS is not urban myth

Wait up! Over 200 sales in all?! I sold 100 this month, what does this mean ?!

200 transactions AND 20k in volume.

So since you know A LOT more than anyone on this board....remind us why you are here? :noidea:

Oh pheww I will exceed the 200 but not the 20K ever lol, you sure its both?!

Seriously the only game you appear to be in is talking from a part of your anatomy that is not usually used for speech.


I have gone over your posts. I have not found anything other than a repeated put-down and veiled digs. We do not run classes in hero worship. You are cultivating no adoring followers.

If this is what rocks your boat, go float on another ocean.

:nono:

200 sales and $20,000 NOT a Myth - FACT.

Its a simple as that

There is no way that you could have passed the 200 sales and $20,000 mark without PP asking for more info. I call BS

Troll comment.

200/20k$ limit is real. You need to plan wisely.

This post is wrong on many levels. The whole point of this forum is to help others and also learn from others. No one knows everything (well, maybe you do), so we all help each other out based on our past experience(s).

The reason why people post their experience of being banned is so they can seek advice on how to avoid it or help someone else avoid their same mistake.

You do not seem like you want to help anyone, but only criticize them when they encounter an issue. What is the point of being on here if that is your goal?

And not to mention that you answered the OP incorrectly....200 items / $20K is the IRS's rule imposed by Paypal and that was the correct answer to the OP's question.

But then again ,maybe you think the IRS is a myth too?

I've been this game for a while too and I am living proof that they will ask for the SSN. I hit 18k on an account last December and got the requirement. I ditched the account and have kept sales spread throughout over 100 accounts so that I don't hit the limit, nor do I hit the projected limit before that time.

Try pushing 7 figures per year on eb/pp and let us know if you don't get any Limited accounts or mc999s. During a good month I pull in over 100k in sales, and occasionally I get restrictions or limitations. It's all in a days work. For every restriction, I start 2 new accounts to counter.

Some of us, myself included, do this for a living. It's impossible to play this game without folding a few hands to them.

Spare the trolling, and maybe try and be helpful and you'll learn some things that you won't find through the search feature.

There are a number of factors at play with your first question, second question it takes months before PayPal takes any action after asking for your SSN or EIN, in my experience. But than again it depends on how much money you have going through your account, type of items you're selling, your overall risk 'rating'. So as others have mentioned, it Depends. :)

Something tells me the so called veteran who keeps slamming the vets here has got the SSN request and of course we wont see him post about it or he just does not do enough sales to even come close.

What he has not learned is we all learn from everyones experience and so far he has not posted anything of value to anyone and has not posted his own issues.

I have been able to sell well over 100 accounts and got one single request on all of my accounts.

And to let the big boy know I have not lost an one of my accounts in well over 2 years going on 3 soon so that blows your theory of vets here to pieces.

Wonder if this poster has anything to do other then slam our fellow members at every opportunity?

Like GB said if you cannot play nice and at least help one person then it is time to find a forum where they allow trolls with no ambition to help others at all.

We are getting a lot of tax questions so I am going to post again the numbers.

I have kept track of post I have read that our fellow members have reported when they received the SSN request.

At this point someone posted they received it as low as:


195 items sold
5,100.00 in total sales.

Again, my tax advisor told me that the IRS hits pp very hard so they dont miss anyone and pp has been forced to use the "projected" or "potential" sales method.