Paypal has started asking for SSN in the US....

vigilantex69 · #23 01-30-2011

What if you never withdraw money to a bank account? I sell alot on Ebay but I use all the funds to buy things I need. I may sell maybe $1000 a month on Ebay and I just buy Wal-Mart Gift cards and buy groceries with it. If you don't withdraw does that affect it?

jeffweico · #24 01-30-2011

Quote:

Originally Posted by vigilantex69

What if you never withdraw money to a bank account? I sell alot on Ebay but I use all the funds to buy things I need. I may sell maybe $1000 a month on Ebay and I just buy Wal-Mart Gift cards and buy groceries with it. If you don't withdraw does that affect it?

Yes. Taxes are due on money earned.

coldstore · #25 01-30-2011

I received the email "we need your tax id number" about 4 days ago. Every time I would login it would popup nagging me. The account has a SS number already on it, but its not mine. Strangely the notice dissapeared after a couple of days. Today I received another email. It is a survey email and it states " We understand that your PayPal account may have been temporarily limited due to questions or concerns by our Account Review team. Thank you very much for your cooperation during this process. We are pleased that your account has now been reinstated."

However I never upgraded to business or entered an EIN as their email requested. Very strange, seems the land of paypal maybe as confused as we are about it.

For the record, my email and notice to upgrade and "confirm" SS or EIN was given at 113 sales, with gross sales about 6500.

Im trying to find a way to get a EIN on the paypal record for taxes while keeping the account as the Ss on file is a friend, who doesnt want a 60k 1099.

SelfMade17 · #26 01-30-2011

hey just wondering that if you receive a payment but the payment was put on hold..and then it got reversed so you never got the payment cleared....does that payment count towards to the 20k limit of paypal??

Killed by Ebay · #27 02-01-2011

It asks for a SSN OR a EIN number. Does this mean we can use a EIN instead of a SSN?

slapped · #28 02-01-2011

Quote:

Originally Posted by Killed by Ebay

It asks for a SSN OR a EIN number. Does this mean we can use a EIN instead of a SSN?

You Need to Upgrade your Paypal account to a Paypal Business account in order to Give them an EIN Number,,and then Pray that they Do not also ask you for your SSN at some point in the Future,,,

cherrqell · #29 02-01-2011

Quote:

Originally Posted by slapped

You Need to Upgrade your Paypal account to a Paypal Business account in order to Give them an EIN Number,,and then Pray that they Do not also ask you for your SSN at some point in the Future,,,

when I upgraded to a business account 8 months ago, they never asked for a SS, or an EIN number.

slapped · #30 02-01-2011

Quote:

Originally Posted by cherrqell

when I upgraded to a business account 8 months ago, they never asked for a SS, or an EIN number.

Well, if the have not,,,They will,,,soon,,,This all has to do with the New Tax Law that Just went into effect,,

Killed by Ebay · #31 02-02-2011

ya im hoping as well as everyone else that this new tax law will only require a EIN with paypal and not a SSN

lagoonclub · #32 02-02-2011

Interesting.

But, I mean. Again, the way to get around this is more accounts right? I have 8 stealth PPs spread out, not even close to reaching 200/$20,000 or even $13,000 on any single account. That gives me 8x as much time to sell.

cherrqell · #33 02-02-2011

Quote:

Originally Posted by lagoonclub

Interesting.

But, I mean. Again, the way to get around this is more accounts right? I have 8 stealth PPs spread out, not even close to reaching 200/$20,000 or even $13,000 on any single account. That gives me 8x as much time to sell.

Yeah, but nobody really knows what the watershed mark is for them to request the information. Could be 6k, or 13k. Too soon to get a handle on it. We will just have to accumulate all the information posted here, and kind of come up with a set point. Just as Jeff said. To soon to see how this will play out. Like I said before. I do not mind paying taxes, I just do not like third party entity having my SS#, DOB, and all the other information that can be used for nefarious purposes.

veggiegymrat · #34 02-05-2011

If you put the same EIN on multiple stealth paypal accounts linked to multiple stealth ebay accounts, they're going to notice, right? I know it sounds like a dumb question but I'm serious....sooo, this could basically mean the end, or a severe decrease, in the land of selling stealth for those of us who don't have real info on our accounts?

slapped · #35 02-05-2011

Quote:

Originally Posted by veggiegymrat

If you put the same EIN on multiple stealth paypal accounts linked to multiple stealth ebay accounts, they're going to notice, right? I know it sounds like a dumb question but I'm serious....sooo, this could basically mean the end, or a severe decrease, in the land of selling stealth for those of us who don't have real info on our accounts?

You CANNOT Give Paypal the Same EIN for multiple Accounts,,So YES it is a DUMB Question,,,

Stealth Accounts will Go ON,,,,,a BUNCH of workarounds are being Tested Right Now as we Speak,,,a solution will Emerge,,,.

catharsis · #36 02-05-2011

One SSN can only be attached to one account, right? So wouldn't it be the same for EIN?

incniu · #37 02-05-2011

will amazon ask for SSN?

for paypal business account, will it ask for EIN or SSN? or BOTH?

smile · #38 06-05-2011

I got the same notice and I am no where near any number. Less then 10k a year. I put in my SS and it says im clear.

I hope they dont lower the limit - It says 22k a year or 200 payments. Soon it will be 10k a year and 50 payments.

Another B.S. move by the IRS and Pay Pal to take your money.