EIN help for when you get limited - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 11-21-2015
Senior Member
 
Join Date: Apr 2014
Posts: 1,581
Thanks: 288
Thanked 285 Times in 228 Posts
Activity: 0%
Longevity: 42%
iTrader: (1)
Default EIN help for when you get limited

I was really nervous to do this but all worked out so hopefully this may help you out if your in the same position I was in.

I am NOT a tax professional this is just a recommendation.

For all the people who get stuck with the 200/20K projection limitation I can at least verify this method which isn't new but may be to some.

If your ok with not going over the 20K mark and just want a good strong account with an EIN attached so you can at least exceed the 200 sales limit than you can just apply for a EIN on IRS website and when asked by Paypal to enter it you do so.

For me I couldn't because I was "limited" so it wouldn't let me upgrade. I called in and asked very nicely if the rep could just enter in my EIN. He said I can enter in your social and then I told him why I preferred the EIN instead and he said fine and all went smooth. I then upgraded to a business account to be on the safe side in the future.

When doing this you will get asked the last four of your social and DOB. Now I just entered the last four of the EIN and my REAL DOB.

When using a EIN from the IRS as a SOLE PROPRIETORSHIP you WILL be connected to your social. If paypal for whatever decides to dig into your account, technically they will see your banned name (i.e social) As long as you keep your account UNDER 20K then no 1099 will ever get issued therefore there should be 0 linkage occurring. In other words there should be no reason for Paypal to ask the IRS what name is on this EIN unless you give them a reason too.

If you have a paypal account with your REAL name you can actually just keep the EIN and go past the 1099 mark but if its under your PHAKE name the 1099 will get issued under your PHAKE name not your BUSINESS name.

This stuff isn't new but I'm sure it can help some people so I figured I'd make a thread about it.

Again this is just my advice and I'm not a tax professional....
Reply With Quote
The complete step-by-step guide to get back to selling today!

Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Paypal limited for careless error; Ebay account NOT limited hapajenn1 Paypal Limited 5 12-24-2014 06:16 PM
Paypal limited, my debit card associated w/ limited, need to pay for eBay items...??? lmsindependant Paypal Limited 10 04-24-2013 10:20 PM
Paypal Limited Ebay Limited to list Notification of Limited Account Access RXI111 ebaytec1 UK eBay Suspensions 0 09-06-2010 05:36 PM
Screwed Up & Ended With Limited Notification of Limited Account Access RXI059 ricardo_NY1 Paypal Limited 5 08-17-2010 11:22 PM
eBay Limited, PP limited, bank info, invoices etc HELP!!! ilyas UK eBay & Paypal 3 04-25-2010 10:30 AM


Aspkin Group

All times are GMT -5. The time now is 02:46 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts