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  #1  
Old 12-30-2013
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Default IRS invesigation from Paypal? shoule I call Paypal ?

I received an email from Paypal stated as below regarding to my IRS information on one of my stealth accounts.
My stealth account was registered with IRS and has an EIN nnumber posted to Paypal last year, however, i did not update the address on this stealth paypal account though.
Could the address be the issue ?
Should I call Paypal or just communicate with emails ?
Anyone met this before ? any advice ?


Dear XXXX,

I have attempted to reach you regarding information we have received from the IRS that your 1099K did not match IRS records.
If you could please return my call at 877.XXX.XXXX ext XXX at your earliest convenience.
I look forward to speaking with you soon to ensure everything is updated on your PayPal Account.

Sincerely,

Andrew

PayPal Merchant Business Consultant
Monday - Friday / 7:30am - 4:00pm CST
Phone 877.XXX.XXXX xXXX
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Old 12-30-2013
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Default Re: IRS invesigation from Paypal? shoule I call Paypal ?

call them, i received a call from paypal regarding this same thing. my business name wasnt what irs has on file. call took like 2 minutes to get it resolved and update my info
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Old 12-30-2013
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Default Re: IRS invesigation from Paypal? shoule I call Paypal ?

They only check business name and EIN , nothing else.

It could be you have Spacely Sprockets LLC with IRS and Paypal has jut Spacely Sprockets.
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Old 12-31-2013
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Default Re: IRS invesigation from Paypal? shoule I call Paypal ?

Quote:
Originally Posted by lyl797 View Post
Anyone met this before ? any advice ?



Phone 877.XXX.XXXX xXXX
It is not as horrible as it sounds.

paypal 'ask' the IRS if the given info is correct. Response from IRS is Yes or No.

When there is a No, paypal asks the seller to correct the info for tax purposes.

Rare to have issues.
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Old 12-31-2013
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Default Re: IRS invesigation from Paypal? shoule I call Paypal ?

I would just call them and try to get it right. Think they just want to comply with the regulations that they have to deal with. Doesn't sound like they are trying to go after you.
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Old 12-31-2013
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Default Re: IRS invesigation from Paypal? shoule I call Paypal ?

Thanks ! Pal ... Great help. really appreciate it !
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Old 12-31-2013
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Default Re: IRS invesigation from Paypal? shoule I call Paypal ?

Quote:
Originally Posted by Kelly441 View Post
They only check business name and EIN , nothing else.

It could be you have Spacely Sprockets LLC with IRS and Paypal has jut Spacely Sprockets.
Not as simple as this - can still be flagged for SSN if PP deems fit
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Old 01-03-2014
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Default Re: IRS invesigation from Paypal? shoule I call Paypal ?

Approx when does PP send the taxdocuments.
has anyone got them showing in PP yet?
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Old 01-03-2014
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Default Re: IRS invesigation from Paypal? shoule I call Paypal ?

Not showing in my US PP yet
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