Has ANYONE on here ACTUALLY used the EIN for paypal

[KingRay]

I got my EIN last night online. now, Has ANYONE on here used that for a paypal business account and not had to use their SSN. You should be able to get by with only the EIN and your business name/information since that is what is for but I want to know from someone that ACTUALLY did this instead of speculation.

[stillselling]

I have plenty of business PP accounts with no SSN/EIN. Why are you volunteering the info when they didn't ask for it?

[KingRay]

Originally Posted by stillselling

I have plenty of business PP accounts with no SSN/EIN. Why are you volunteering the info when they didn't ask for it?

I'm Not. I am getting close to 20k on an account that I cannot post the SSN to or they would be liable for the taxes on it. That cannot happen.

I need to open an account soon and thought that I could just do the EIN route and not have to worry about them asking for a SSN which mine will get me locked out.

Read my post as to what my situation and problem is here, maybe you can help me out:

http://www.aspkin.com/forums/subscri...t-do-i-do.html

[KingRay]

Never mind, I can see you are not a subscriber so you wont be able to view it.

I just need to do a paypal account and keep my ebay account.

I have no suspensions but need to completely change my Paypal account for use with my ebay since its a great standing powerseller with top seller discount.

I want to keep the old paypal account for future use if I can though.

[KingRay]

No one on here with all these account has a business account with an EIN on it?

Should I just open an new stealth account them and change it every 15k or so then?

IF that is the case then the question still is can I just keep using my ebay account and replace my current paypal with new paypal information on ebay so my payments will start coming into that one?

[nak]

im working on getting the ein account so i dont have to worrie about the 20k. but dont have it yet still waiting on the papaerwork from the state. but from what i have read is that if you try to link a new paypal account with an old ebay you are going to run into some red flags.

[lyl797]

Hi, Nak

I thought you can get EIN number directly from the WEB. Why do you need the paperwork form the state though ?

[nak]

i am having leagal zoom get me my LLC and they also will get me my EIN so i have to wait for all that so i am 100% leagal with no limits and then 90 days form when i sign up its game time

[lyl797]

Oh, I see ... but I am just wondering, I applied for an EIN this morning, I got it right away.
Strange thing is , IRS didn't even ask me for my LLC or company name, all I provide is my real name and my SSN, then answer couple of simple questions, I got my EIN.

I am not an expert on this IRS EIN tax stuff, but looks to me , you don't really need a company setup to get an EIN number ..... if possible, someone with more knowledge please shed some light here ...

[lyl797]

Oh, my bad, clarify here .. I did provide a business name, but it's a bogus one - I use the same User ID of my eBay account, but looks like IRS doesn't care about the business name though.

[nak]

well i might have to try that cus u cant have to many paypal and ebay accoutns with ein number to back them. thakns for the info lyl797

[KingRay]

So what are you wanting to do? Get close to the 20k and bail on it and just get a new EIN? Personally that is what I would like to do..lol

If you end up making an account with it when you already have a paypal account now let us know how it works. Anyone on here. Not really asking any of you specifically. Thanks

[jeffweico]

Originally Posted by lyl797

Oh, I see ... but I am just wondering, I applied for an EIN this morning, I got it right away.
Strange thing is , IRS didn't even ask me for my LLC or company name, all I provide is my real name and my SSN, then answer couple of simple questions, I got my EIN.

I am not an expert on this IRS EIN tax stuff, but looks to me , you don't really need a company setup to get an EIN number ..... if possible, someone with more knowledge please shed some light here ...

You do not have to own a business to have an EIN. If you have a maid, or other types of help (ie. a home nurse for s sick relative) you are required to have one.

But I saw where you mentioned they DID ask for the business name. That makes sense to me, because every time I applied for one I provided it.

[KingRay]

Originally Posted by jeffweico

You do not have to own a business to have an EIN. If you have a maid, or other types of help (ie. a home nurse for s sick relative) you are required to have one.

But I saw where you mentioned they DID ask for the business name. That makes sense to me, because every time I applied for one I provided it.

When I went to our local website to do it they set it up for an LLC that I have yet to file. I had to list members which I just listed myself, address, etc. Now I need to do the LLC thing on LEgalzoom. That seemed to be a good place to go from what I hear.

Tell you what, I am really scared of opening a business account and deleting the old one and attaching this new one to my goof ebay id. Even though nothing is even close to being limited on either. I always get nervous when making new accounts. Then it fades but before i do it I am a wreck. lol..

[jeffweico]

Originally Posted by KingRay

I'm In Kansas and when I went to our local website to do it they set it up for an LLC that I have yet to file. I had to list members which I just listed myself, address, etc. Now I need to do the LLC thing on LEgalzoom. That seemed to be a good place to go from what I hear.

Tell you what, I am really scared of opening a business account and deleting the old one and attaching this new one to my goof ebay id. Even though nothing is even close to being limited on either. I always get nervous when making new accounts. Then it fades but before i do it I am a wreck. lol..

Normally, it is NOT recommended to use anyone else's information when starting an account. But it sounds like you and your son started this thing as partners, then he became disinterested but wanted you to keep going.

Could you simply give his SSN and then reimburse him for the taxes paid on the profits from the reported earnings? The IRS does not care WHO pays the taxes, as long as they are paid.

Just a thought...

[zr11]

EIN has worked fine for me on accounts in the past as long as its a business account and things have not been too..... Lets say problematic so far. When I got close to 20k with well over the 200 I just got an email asking for a fax with either SSN or ein... I crossed over 20k got to almost 30k, then faxed, and had no issues... I like you had a good standing eBay account that I could not afford to ditch otherwise I would have just stealth-ed and rolled again.... The lesson for me is build may Top Rated Simultaneously rather the 1 big account... That way you can go 20k over a few and not have to worry about ein especially if vero has anything to do with your operation. I am not Vero'ing but if I were I may be reluctant to connect all those recorded verified sales of vero with anything that could be led back to me... If you have ever seen anyone that got snagged by product partners, you would really appreciate the benefit of NOT doing this and connecting to yourself! Anyhow, good luck!

[lyl797]

HI, zr11

Thanks so much for your info.
I got a question here though, do you upgrade your paypal account to business account before you provide EIN to paypal ? Or you are just upgrading your eBay account to be a business account ? I think we are all here to learn about the detail steps to provide EIN to protect our stealth eBay accounts .. and I can not agree more with you on scattering eBay sales over to seperate accounts to lower down the risk of rampage from those eBay/Paypal maniacs ..

Let's hear from you more on the deatil steps you went thru please ..

[KingRay]

Originally Posted by zr11

EIN has worked fine for me on accounts in the past as long as its a business account and things have not been too..... Lets say problematic so far. When I got close to 20k with well over the 200 I just got an email asking for a fax with either SSN or ein... I crossed over 20k got to almost 30k, then faxed, and had no issues... I like you had a good standing eBay account that I could not afford to ditch otherwise I would have just stealth-ed and rolled again.... The lesson for me is build may Top Rated Simultaneously rather the 1 big account... That way you can go 20k over a few and not have to worry about ein especially if vero has anything to do with your operation. I am not Vero'ing but if I were I may be reluctant to connect all those recorded verified sales of vero with anything that could be led back to me... If you have ever seen anyone that got snagged by product partners, you would really appreciate the benefit of NOT doing this and connecting to yourself! Anyhow, good luck!

You opened the account with the EIN to begin with and when you got close you still had to fax them the ein #? I wonder why they would bother since they already had it. what did you do just fax a full page with a simple # on it??

So what do you think I should do? just post the EIN number when they ask that way the tax burden will be on me or just open a new Business account with the EIN and start fresh on my 20K run. I dont care about the taxes after that.

Thanks for the great info.

[KingRay]

Originally Posted by jeffweico

Normally, it is NOT recommended to use anyone else's information when starting an account. But it sounds like you and your son started this thing as partners, then he became disinterested but wanted you to keep going.

Could you simply give his SSN and then reimburse him for the taxes paid on the profits from the reported earnings? The IRS does not care WHO pays the taxes, as long as they are paid.

Just a thought...

Dont mean to keep posting on here but I wanted to comment on this particular post as well. I guess since I am the OP then its Probably okay.

The main reason I dont want to simply reimburse him is due to how it would affect his student loans/grants, etc college. His income would directly affect his eligibility for certain things. Thanks for the post though.

[zr11]

lyl797:
To answer your question about the EIN, I had a premier stealth account. When I got the notice I simply LLC'ed in the State I am located in, got an EIN and changed to a business reg on Paypal only. The eBay account is still an Individual account.

KingRay:
Looked at your situation and I think that if you are willing/able to manage paying the taxes without them affecting your son, then you could simply change the account to a business account without any disruption to your eBay account. The thing is, if you kill the existing Paypal account and just start a new one, Paypal may link the 2 accounts and conclude since they are held by the same person, the $20k would be breached by combining to totals of both accounts and still demand the tax info halting the ebay accounts anyway. I mean if you can not collect money, then you are out of business.

Depending on what you are selling Top Rated Seller can be hard to come by and maybe you are dependent on the revenue! I mean think about it, if you ditch the Top Rated Seller account and start fresh today, it is at least 90 days until you can get TRS on another account, and as I am sure you already know not having TRS makes a HUGE difference with sales, that is why I had to simply legitimize my TSR account. My lifestyle was dependent on the revenue... A pretty precarious position to be in, but it is what it is. So here are your options I think:


Possible Solution 1

LLC/INC a company with a DBA for the "contact person", obtain EIN and convert the existing TRS account details changing everything, and be prepared to deal with the taxes through the business. Remember that if you keep income on this account under $50k taxes on profit only amount to 15% and if you can keep the money in the corporation of find creative ways for the corporation to spend the money then great! Maybe the corporation needs a vehicle to do business, or equipment computers etc. There is nothing stopping you from having 10 LLC/INC's that all do $50k Profits.

The one caution here is that if you have not been reporting income from previous years on this account, I know that paypal says only 2011 forward will be sent it Irwin R Shister, but this could go real bad if somehow, Irwin manages to simply look at the accounts feedback history and start making demands for extra info. The other concern is that because the INC dates will be ahead of when you started selling, technically it may be argued that those sales were "personal" and personal income anyway. A solution for this may be what is called a shelf company... Look into it. Won't elaborate on the open forum but worth a look if you are willing to spend a bit to cover your bases.

Possible Solution 2

Ditch the account! Start RIGHT now building a new account, even consider buying an aged account from some of the guys on here so the 90 days is not the issue, If you do $3000 of monthly volume, and sell 100 units you are TRS in around a month and a bit so your downtime is minimized, in terms of lost sales. This will probably cost more in the short run in terms of lost sales and cost of setup but probably a bit more safe in terms of Irwin or Paypal looking at histories. Maybe it is time to come in from the cold... LLC/INC this setup right away with a DBA as the named contact so day 1 one you are set. Learn some accounting strategies to minimize taxes and just file as a company day one. Look at some of Green Bean's posts on the whole DBA/LLC stuff.... reading his stuff is what put me on the road to leaving the job world and just running the eBay market fulltime.

Solution 3

I'll call this the wild, wild west option! Forget Irwin, Forget Paypal. Treat accounts as commodities. Be prepared to have money sit in accounts for some time and be prepared to lay a bit of capitol on the needs of stealth in terms of controllable addresses, Nominee Directors Offshore LLC's, Panama and Switzerland. I won't get into the specifics of this option on here and I personally don't use these methods, but I have a few associates that are sell vero, legitimate, really whatever they want to the tune of 6 figures in profit, year in, year out and other then the mattress they sleep on nobody has any idea, if you know what I mean....


The truth is times have changed while there are still ways to evade paypal, ebay and the Irwins out there, for me I can't stand looking over my shoulder. You can make a great income on eBay and play the game the right way in terms of the rules created that were meant for only a few to be able to navigate. You just have to think outside of the box, or your own state if you follow me. I hope my message was not too cryptic for you, but I think we all know the forums have ears, so if you are interested in any more pm me, and leave your email. I'm glad to help with the lessons I have learned. As we can see from facebook's 50 billion dollar valuation lesson, there is power in numbers and being able to do things as a large group!

[lyl797]

ZR11 .. Thank you so much for the information ... You're da man !!!

[lyl797]

Strange, I cannot get more EINs from IRS online Application anymore using my personal info, looks like IRS is now limiting the number of EINs you can have for 1 individual... So get your EIN quick while you still can ...