Please submit Tax ID information for your PayPal account
Hello All,
I just received this email from one of my account couple days ago. The account sold more than 150 items and less than 200 items (all eBay transactions) but the amount of money was under $300 total.
What happen if I don't submit Tax ID and let the account rest for the this year?
Will they going to limit my account anyway?
Or it will be reset next year?
Thank you Quote:
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Please submit Tax ID information for your PayPal account
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Dear Mr.T,
To comply with the Internal Revenue Service's (IRS) rules, we ask that you
submit your Tax ID number to us as soon as possible. Your Tax ID number is
one of these:
- Your Social Security Number (SSN)
- Your Individual Tax Identification Number (ITIN)
- Your Employer Identification Number (EIN)
We are required to obtain tax ID numbers from all online sellers who
receive payments for goods or services through PayPal. If you do not
provide us with your Tax ID number, your account access will be limited,
and you will be unable to request or receive money. After you provide us
your Tax ID number, your account will be fully functional.
Here's how to submit your Tax ID number:
1. Log in to your PayPal account.
2. A message will appear asking you to update your information.
3. Click Provide Now and follow the instructions.
If you have multiple PayPal accounts, repeat these steps for each account.
We'll use your Tax ID number to send tax Form 1099-K to you and the IRS
when the payments you receive meet the 1099-K reporting thresholds for the
calendar year. For more information, please see our FAQs on the IRS
reporting requirements: www.paypal.com/irs.
We appreciate your help in complying with these IRS rules.
Sincerely,
PayPal
| Also, PayPal allow you to have multiple account? | 
