Dmshark25 | 10-15-2013 01:58 AM | Re: paypal tax question No they and myself got hit with being asked to provide a tax ID at about 150/$4500 I was asked on one, but I made $3900 in one month
So if u are on pace to reach that IRS new protocol than Paypal will for the tax ID they are not going to wait till the last second and let u make all that money and disappear than they would be liable
So they ask for tax ID when you are on pace to reach 200/20,000 and than if u reach both and yes both 200 transactions and $20000 than u will receive a 1099
If u have 500/18,000 no 1099 or 55/55,000 no 1099 but both requirements of 200/20,000 and this is also on the IRS site
Beware of imposter IRS sites, they have very similiar names and will charge to file it for you , this is not the official site an EIN is free and takes 5min online |