Talked to Paypal today - some info i got on New Verification

[Lyda]

Merchant is still alternative if you are selling in certain categories, but there are categories I sell in I am required by Ebay to use only PayPal. This is a problem.

[jbluntz]

You can still get around that by taking out key words from your listing.

[411guru]

From what I've read, any payment processor or merchant account you have, they are required to report your earnings to the IRS if you do over 20k in revenue. Correct me?

[vigilantex69]

Originally Posted by 411guru

From what I've read, any payment processor or merchant account you have, they are required to report your earnings to the IRS if you do over 20k in revenue. Correct me?

I mean yea but they are just going to require all to have SS numbers, that would be dumb for them not to. The end of stealthing comes in 2011!

[jbluntz]

I'm sure there will be ways around it.

[vigilantex69]

The end of stealthing will come with a huge rise in identity theft. My god how it would be so easy to steal someones identity with paypal after this. Not going to do that, so I guess I will just fold and sell on craigslist or something. Eff you Paypal! I just wish I had gotten into this game alot sooner!

[jbluntz]

They'll probably be a rise in bogus corporations with fully verifed business paypal accounts. I saw one the other day, it was a UK corporation w/uk ebay account, biz paypal, uk bank acc. ability to sell on us ebay,800 # all for $99.

[First Edition]

an EIN number is not a replacement for a social, they still may require this.

[Lyda]

True, but wouldn't you have the right to refuse to give up your social on legal grounds. In order to report taxes all they need is EIN, they don't really need social for that, do they? I mean, IRS will know that certain EIN is connected to certain social....Why would PayPal nee this info? They are not IRS....

[vigilantex69]

I mean to be fair I am shocked they haven't instituted a SS number policy along time ago. I am surprised it took this damn long for them to do it. My only connection is that they make so much money a year off of stealing blocked accounts and limiting them. Their board of directors has sat back and said ok we make $23 million a year off of limited accounts that cannot be reinstated, and we lose $12 million a year to scammers. So therefor they do nothing. Now with this new legal judgment, they have no choice, and will have to require SS numbers. I also firmly believe it has something to do with the buyer protection program as well.

[arsgunner77]

i wonder if the ssn is applied to making new accounts in 2011 and all other accounts made before will be normal like now how they they limit you at a certain point,if thats the case,im gonna make a **** load of accounts

[aking]

paypal is only going to hurt themselves with that new SS requirement. I will stop using paypal once this occurs.

[First Edition]

Originally Posted by arsgunner77

i wonder if the ssn is applied to making new accounts in 2011 and all other accounts made before will be normal like now how they they limit you at a certain point,if thats the case,im gonna make a **** load of accounts

They already do it at a certain point

[Hercules]

It's concessions ebay had to give in to because the government wants to tax the internet. So they ask for your SS# when you make pocket change in turn Uncle sam gets paid. The thing is, do all these payment processors give up what you sold on your web site?

[IDK]

Wow... First the new eBay verifications, now this... I think it may be time to give eBid a serious look. When the ssn requirement drops, 40% of eBay are gonna be looking for somewhere to sell.

[First Edition]

Looking at other websites will be pointless. When the FEDERAL LEGISLATION goes into affect all companies will be required to report when the noted guidelines are met. Time to move to China.

[getBypass]

Originally Posted by Hercules

It's concessions ebay had to give in to because the government wants to tax the internet.

I knew this, but its always unsettling when i think about it.
Big brother wants to control everything.
And know everything about you.

If i am to remain on ebay after that change occurs, well i know it
will cost me even more money to stay stealth.

Then again, im using ebay to fund my PPC campaigns.
Its just that....... ebay money is fast money. I better make as much
of it as i can now.

cheers.

[411guru]

Originally Posted by First Edition

Looking at other websites will be pointless. When the FEDERAL LEGISLATION goes into affect all companies will be required to report when the noted guidelines are met. Time to move to China.

I am currently using a payment processor based in Canada, for my website. Since they are in Canada, they don't need to follow the IRS's rules correct? If that's the case, then that is one way around it.

[Burst]

Originally Posted by vigilantex69

Alternatives to what? Once 2011 hits and they make us use SS numbers to start new accounts were ****ed

EXACTLY, I heard 2011 thats about to start. There are always work arounds. Though theyre not going to be as safe as where we were a year or two ago.

Terrorists sending money through Paypal.... HAHAHAHA What a joke. Or at the very least a cop out excuse of an answer.

PayPal is a RED FLAG in itself for anything.

[First Edition]

Canada has an IRS, it's called the CRA, Canada Revenue Agency.

No they do not follow the rules of the IRS. Much like Jack Daniels does not follow the rules of Jim Bean