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Old 08-12-2016
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Default Please submit Tax ID information for your PayPal account.. safe ??

So, I got this email below.

From my understanding when you are on pace for either 200 items OR $20,000, they request this information.

In the past, as long as you didn't go over both 200 items AND $20,000, than your account is fine and you never need to submit this information. (On this forum, it seems like if you are close to $20,000, like $19,000, than they limit your account till you get this information).

My account is only 2 months old and has 170 sales but only $2,500 money wise. I will definitely go over 200 sales, but no where near $20,000.

My question is, as long as I do for example 500 sales and $10,000, is my account safe and I don't need to provide this information?

Because the way the email is written it seems like all accounts this is a requirement













Please submit Tax ID information for your PayPal account


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.
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Old 08-12-2016
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Default Re: Please submit Tax ID information for your PayPal account.. safe ??

You have never been able to cross either threshold without providing a tax ID. At least not since the IRS made this rule a few years ago. Paypal would be breaking the law if they let you.

It breaks down like this:
If you come close to 200 sales OR $20,000 in sales they require a tax ID. If you hit 200 or $20,000 without providing one, you're limited until you provide one.

If you hit 200 sales AND $20,000 in sales, Paypal sends a 1099K to the IRS on your behalf.

This is why if you're approaching either threshold, Paypal asks for your tax ID. Because they would be breaking the law if you crossed both and they didn't submit a 1099 for you.
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Old 08-13-2016
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Default Re: Please submit Tax ID information for your PayPal account.. safe ??

For adding an EIN I am aware that paypal will require you to upgrade to business account. My question is: when upgrading to business will paypal ask you to proVide DOB and SS?
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