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Tax Reporting INformation
 

Hi,
I received a Paypal notification this morning stating that I need to provide Tax Reporting Information.

The options are:
SS #
Employer ID #
Individual Tax ID #

Please advise on how to proceed so that I can keep this account safe.

Thanks so much.

Re: Tax Reporting INformation
 

Provide them with a EIN

Re: Tax Reporting INformation
 

How do I do this?

Thanks so much.

Re: Tax Reporting INformation
 

Worth having a search on the forum.

Lots of really good info about on how to get an EIN :thumb:

Re: Tax Reporting INformation
 

Ok, Thanks.
I am not sure I know how to search-- new to this. I will do my best.

Feeling nervous and anxious. :/

Re: Tax Reporting INformation
 

Have a read though

http://www.aspkin.com/forums/paypal-...nding-ein.html

and

http://www.aspkin.com/forums/paypal-...ax-id-ein.html

Should help you :thumb:

Re: Tax Reporting INformation
 

Hey, still a little confused on this.

So let's say I go to UPS, create a private mail address ; 1234 N Smith Street
I got to the IRS website and create a EIN under that address and later when adding my EIN to PayPal I upgrade to a business account and change the address to 1234 N Smith Street, correct? That way I have access to the address and it's been unused with eBay/PP.

Also when creating a EIN they ask: What type of legal structure is applying for an EIN?
Which do I select? LLC?

Re: Tax Reporting INformation
 

A sole proprietorship will work but an llc is the best route to go for a long lasting paypal account