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Old 07-13-2016
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Default Paypal EIN questions

So I got these notifications today:
http://i.imgur.com/L14vKGP.png
http://i.imgur.com/csG0xad.png
Not sure if this is just a warning for the projection of my sales? Because I am no where near the $20,000 mark for the year.
I have read a few threads on here but still confused on what to actually apply for. Do I apply on the IRS website?
I also see multiple types of EIN being discussed here; Business Entities, Sole Proprietors.
How do I know which one to choose for a stealth account? And what if they still ask for a ssn after uploading the EIN?
Thanks in advance
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Old 07-13-2016
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Default Re: Paypal EIN questions

You need to read up which type of business is right for you. Go to legal zoom form your company then go to IRS website and ask for EIN. And sometimes they do ask for SSN of the owner, sometimes they don't. Hard to say.
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Old 07-13-2016
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Default Re: Paypal EIN questions

Wouldn't it be best to do a sole proprietors for a single Stealth eBay Account?
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Old 07-13-2016
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Default Re: Paypal EIN questions

These are accounting questions that should be asked to your accountant.

Heads up, sole proprietor is about the highest possible tax rate for most situations and offers zero protection of anykind.

Nearly always when you upgrade they will ask for the last 4 of your SS. Just enter the last 4 of the EIN number.

Dont pay for a very expensive service from legal zoom when you do it all yourself for free. But they are a decent source for information but by no means replaces your accountant.
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Default Re: Paypal EIN questions

That's what I did this morning... Instant free EIN in 5 minutes
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Old 07-14-2016
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Default Re: Paypal EIN questions

how much have you sold this year to prompt this message? if you want to keep selling on this account then provide a EIN. If you don't want to provide EIN then just hit the remind me later option and don't sell anymore on that account & spread over multiple stealth accounts.
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Default Re: Paypal EIN questions

OP: Is your Paypal account on your own name or stealth name?
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Old 07-14-2016
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Default Re: Paypal EIN questions

Quote:
Originally Posted by pperry View Post
how much have you sold this year to prompt this message? if you want to keep selling on this account then provide a EIN. If you don't want to provide EIN then just hit the remind me later option and don't sell anymore on that account & spread over multiple stealth accounts.
I sold about $3,500 when I got this message. I think I will end up doing the EIN. I spoke with jeffweico over PM and he helped me with pretty much everything I needed to know. Big thanks to him!
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Old 07-14-2016
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Default Re: Paypal EIN questions

Quote:
Originally Posted by bornlazy View Post
I sold about $3,500 when I got this message. I think I will end up doing the EIN. I spoke with jeffweico over PM and he helped me with pretty much everything I needed to know. Big thanks to him!
around 130 items?
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Old 07-15-2016
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Default Re: Paypal EIN questions

Quote:
Originally Posted by bornlazy View Post
I sold about $3,500 when I got this message. I think I will end up doing the EIN. I spoke with jeffweico over PM and he helped me with pretty much everything I needed to know. Big thanks to him!

HEY! I just got hit with the same message and need some help! I know i need an EIN but what details do i input? The account i am currently using is in my friends name and i have his license and a piece of mail showing an address is easily photoshopable but the SSN part is a PLEASE HELP!
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Old 07-15-2016
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Default Re: Paypal EIN questions

Quote:
Originally Posted by zishan786110 View Post
HEY! I just got hit with the same message and need some help! I know i need an EIN but what details do i input? The account i am currently using is in my friends name and i have his license and a piece of mail showing an address is easily photoshopable but the SSN part is a PLEASE HELP!
Read above and search the forum about EIN. Hundreds if not thousands of threads on this. Most in the past few years are fairly accurate.

EIN is in your real name and SS. Never give the IRS ⊗⊗⊗⊗ details unless you like tax fraud charges.
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Old 07-15-2016
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Default Re: Paypal EIN questions

Quote:
Originally Posted by ebaychic2013 View Post
You need to read up which type of business is right for you. Go to legal zoom form your company then go to IRS website and ask for EIN. And sometimes they do ask for SSN of the owner, sometimes they don't. Hard to say.

No need to give legal zoom hundreds of dollars.

OP should make use of the IRS site and proceed thst way.

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Old 07-16-2016
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Default Re: Paypal EIN questions

Quote:
Originally Posted by yankee View Post
Read above and search the forum about EIN. Hundreds if not thousands of threads on this. Most in the past few years are fairly accurate.

EIN is in your real name and SS. Never give the IRS ⊗⊗⊗⊗ details unless you like tax fraud charges.
But which details have to match the stealth account? I appreciate your response!
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