Paypal limited for SSN or EIN. What worked last year isn't working this year.

[Dmshark25]

I just added another EIN TODAY and have 3 others with this and unless they are way behind the one is 4 months old and when making my EIN I USED all real info all with my home address and this info was used in making a suspended account almost a year ago.

From my understanding they just get a match on the EIN and the DBA associated with that and make sure it matches the business name of your Paypal account, and so far this has worked for me and all became power selling accounts

So at least in my limited experience with this (4 months) I have just used all my real info with home address and paypal just verifies that the business name is a match.

After u add it gives a message if further info needed will call and the request tax info is still on top page, and by next day it always says verified

Also make sure you get the EIN directly from IRS.gov , their are many similar urls that look exactly like you are on the site but they are not, there is no payment for an EIN they are free and your limited to one a day

[outofluck]

Originally Posted by Dmshark25

From my understanding they just get a match on the EIN and the DBA associated with that and make sure it matches the business name of your Paypal account, and so far this has worked for me and all became power selling accounts

Dmshark,
Basically when you make a stealth pp, you enter your future EIN business name for the name and address PP asks you.
Same for ebay first and last name?

[Sandy D]

Again the accounts that have the "potential" or "projected" sales to hit those numbers will get hit with it.

IRS has pp running scared with this and they are hitting anyone with the potential of hitting their numbers set out.

I have kept a note on my wall of other members numbers and right now the lowest who got the IRS request this year has been 195 items sold and 5,1000 in sales.

[Dmshark25]

Sandy is correct, the IRS is putting lots of pressure on PAYPAL so when u r on pace to hit the 200/20,000 than Paypal asks you for the tax ID.
Now I have been hit around $5000 , so even though you turn the info in early , which is Paypal watching their own butt and being smart the last thing they want is the IRS shutting them down, does not mean it is reported , it is just collected and stored by Paypal that way as soon as you hit 200/20,000 they report your sales to the IRS.

But until than they are just getting prepared for when you do and they run a check on the business name , and as far as they know from my limited experience with this that's all that was checked , and again the latest account was end of June beginning of July I have to check my records for exact date but roughly 4 - 5 months after putting the EIN number in everything is ok.

But my plan is to keep making accounts and spreading my sales so thin I won't need to provide them with more info and has nothing to do with taxes but with the possibility of Paypal going another step forward and confirming all the data attatched to the EIN.

Big accounts don't last, but I need them to allow me funding to live and keep growing my business with all small accounts way under ebay , Paypal and any competitors competition.
I just want to look like I'm doing a hobby on the side

[Sandy D]

This is the reason I rotate 15-20 accounts per week and run through almost every other months or so.

So far no issues and I have a ton of accounts with no or high limits sitting to use started mid Nov through Christmas season.

I used them on and off all year to grow them and now waiting for the holiday selling season to hit them hard.

[vogeltron]

Seems like the first request comes between 150-160 transactions. The next one comes about 170-180. The last one somewhere around 190-195 it the final one where they limit the account from receiving funds and closing the account. Everything I have heard is this is regardless of sales $ numbers. If you sell 160 $1 items it is no different than selling 160 $60 items. You will still get the Tax ID request. Looks like PayPal is going to cover its behind by preventing sellers from reaching either threshold.

[GreenBean]

Originally Posted by vogeltron

Seems like the first request comes between 150-160 transactions. The next one comes about 170-180. The last one somewhere around 190-195 it the final one where they limit the account from receiving funds and closing the account. Everything I have heard is this is regardless of sales $ numbers. If you sell 160 $1 items it is no different than selling 160 $60 items. You will still get the Tax ID request. Looks like PayPal is going to cover its behind by preventing sellers from reaching either threshold.

Be mindful of not generalizing.

It still stands that paypal may ask for tax ID when paypal wants to ask.

Sellers must be so prepared. They must take professional advice to cover themselves too.

[Dmshark25]

Everyone should be taking all the EIN / SS# or tax ID advice here is solely for stealth purposes in terms of keeping your accounts open and not linking information and not tax advice.

The two issues are separate so the advice here for tax ID is just another piece of info and how it works in terms of what Paypal can see, but taxes should be looked at by ur accountant so becareful in confusing the advice given