Talked to Paypal today - some info i got on New Verification
Hi , on another thread in here we had a debate about whether paypal will be giving a 1099 for the 2011 tax year as already know they will be reporting ... I was wrong as i thought it would be a 1099 ... I have had the same Paypal account since 1999 , so i called yesterday and asked .. what paypal is apparently going to do is send some king of money collected summary/statement to the irs ..i never gave them my ss number - so i asked about this and was told that it will be mandatory for me to give the ss # when the time comes - if i wish to continue to have the account .. i was also told for new account (i asked about my wife ) that they will basically be pulling the credit for id verification due to the legislation that passed due to terroist sending or laundering money through paypal and of course people under reporting their internet sales ..Once again this came from CS rep so maybe they dont know what they are talking about but just thought i would pass it on ...............................also would be great if someone else could call and see what they tell them - just wondering
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