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  #1  
Old 1 Week Ago
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Default Poking around in managed payments

USA managed payments that is.. I noticed that i can edit the DOB/NAME/ADDRESS etc... and of course they warn changing data that can't be verified may result in payout holds. blah blah blah.But, that got me to thinking.

This is hypothetical. A 1099 is generated at the end of the year. Let's say i sell 55k, and i use my "brothers" SSN/DOB ETC... for an account. This is a hypothetical, so don't get on your soap box about using someone else's data or whatever, obviously was approved in this hypothetical.

December 25th i change the data to my own, name, leave address... change DOB and SSN to match name etc... shouldn't cause any conflicts. If that takes, and from adyen experiences I've read, unless adyen flags you for fraud, an ebay suspension and adyen suspension are different.So they don't give a ****. You could technically run eBay accounts all year under a different identity and again for the karens "approved use of identities" and then switch to your own to pay the taxes at the end of the year.. The problems and unknowns with this and needs testing is.. Will they limit or suspend you when you change data? Does the 1099 data go back to the original person even if it's changed at the end of the year? so will my "brother" be issued a 1099 for the sales when it was under his name? Or does it just go by who's on it at the end of the year? We won't know the answer to this, obviously until someone tests it. I ain't worried about avoiding taxes, I've been paying them for 15 years even though i rarely get a 1099 in my name, because it's the correct thing to do. Nonetheless....
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Default Re: Poking around in managed payments

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Originally Posted by Moscutter View Post
You could technically run eBay accounts all year under a different identity and again for the karens "approved use of identities" and then switch to your own to pay the taxes at the end of the year..
Negative, Ghostrider. Sales are attached to whichever tax number is currently provided. You meet the 1099 criteria for 10 tax numbers throughout the year, 10 1099s are going out.
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Default Re: Poking around in managed payments

IDK. I came here to agree with ebs but then I went poking around in one of my accounts. They'll let you edit everything in your account settings. Company name, EIN, beneficial owner and their SSN, can all be changed.

I feel like actually changing any of those details would lead to a ton of scrutiny though. Definitely not something I'm willing to try.
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Default Re: Poking around in managed payments

I'm just speaking on the reporting side of things.
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Default Re: Poking around in managed payments

You can do the same on paypal and amazon.

Whatever tax number is on the account at the end of December is where the 1099k is going.

I do this every year right after Christmas.
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Default Re: Poking around in managed payments

lol, that's nuts.
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Default Re: Poking around in managed payments

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Originally Posted by phaz0rz View Post
lol, that's nuts.
I am not so much worried about the scrutiny side of things, i don't mind if the account gets suspended, as long as i am tied to the 1099 data.
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Default Re: Poking around in managed payments

I change the numbers to 123456789 so that there is no 1099k issued to me You will get a w9 request and if you dont submit it, the account will not be able to collect funds some day in December the following year.
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Default Re: Poking around in managed payments

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Originally Posted by yankee View Post
I change the numbers to 123456789 so that there is no 1099k issued to me You will get a w9 request and if you dont submit it, the account will not be able to collect funds some day in December the following year.
good to know, except paypal is going away, it'd be nice if this is how ebay is run. It'll be interesting. I may test it out.
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Default Re: Poking around in managed payments

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good to know, except paypal is going away, it'd be nice if this is how ebay is run. It'll be interesting. I may test it out.
Paypal, ebay, amazon, etsy, stripe, square, etc....

At any time(sometimes requires an email) you can change the tax number. It is much harder to change a bank account than tax number at times.
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Default Re: Poking around in managed payments

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Originally Posted by yankee View Post
Paypal, ebay, amazon, etsy, stripe, square, etc....

At any time(sometimes requires an email) you can change the tax number. It is much harder to change a bank account than tax number at times.
Changing the whole name on Paypal has never been possible in my experiences though, so your 1234567899 whatever, makes sense, from the Paypal perspective. On Ebay you can change everything.
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Default Re: Poking around in managed payments

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Originally Posted by Moscutter View Post
Changing the whole name on Paypal has never been possible in my experiences though, so your 1234567899 whatever, makes sense, from the Paypal perspective. On Ebay you can change everything.
It has ALWAYS been possible on paypal. Businesses get sold everyday. New EIN number and name change is not at all uncommon. Heck, the moment you click "upgrade to business" you change it then
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