went over the 20k limit on paypal

[HurricaneHuntr]

Following up again as this is a important question. Who exactly has reported this and are they trustworthy sources with screenshots? Screenshots or it didnt happen

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[123]

Originally Posted by KingRay

You have to enter it if they ask because they will limit the account until you post the SSN with them. They give you a couple weeks to do it and then they suspend it until you post it. some have had this happen at 6k and others at 13k and got limited until they posted the SSN.

I have multiple accounts that have asked for SSN 2-3 months ago, and I haven't entered it they just constantly remind me but thats about it the accounts are fine and receiving payments. As long as it doesn't go pass the limit, not required.

[KingRay]

Okay then maybe they decided to do differently. On my 2nd account I was close to 20k so maybe that is what happened. Yeah they probably bug you until its close and then shut it down.

I seriously wouldnt expect this situation to happen this way next year where people just stay under the 20k limit. I would almost bet that if you upgraded to business account all earnings will be reported either next year or soon after. just watch.

People say thats BS but if you state you are a business as you do when you upgrade the account then you are saying you are going to be liable for taxes on it. Then only way to assure that is to require all reporting on business accounts. it will happen, there really isnt any other way for the IRS to stay on top of businesses.

[KingRay]

Originally Posted by Moscutter

Following up again as this is a important question. Who exactly has reported this and are they trustworthy sources with screenshots? Screenshots or it didnt happen

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What are you talking about???

[Badcam87]

i got the same email today but i dont have 200 payments gone thru or 20 k should i be worry ?? i started selling since january this year i havent got limited in anyway yet still gething payments anyway around this the should be a flaw rite ?? i mean where are running stealths

[Gangster878]

You Will Get Limited Sooner Or Later

[mike2146]

Received the email the other day. Ive had this acct for 3+ years under a business name. I basically just got a business checking out without a tax ID # and have remained under the eBay/PP radar for 3+ years. Now they want SSN, EIN or TAX ID... all of which require MY name. Is there any way around this? I've just hit the 10K mark for the year, so I'm nowhere near 20K. This is just a side business that provides a bit of extra income. I was banned years ago for youthful stupidity (nothing illegal, just took my sweet ass time mailing things out when I was in school and made things worse by opening new accounts.) Is it time to just give up, sell everything and forget about internet sales forever? I have no problem with paying taxes, I'm just worried that the minute they get my real name they will link it to my old account(s) - even though they never had my SSN on those old accounts. And I no longer live where I used to (same state, but 100 miles away.)

I'll be on this site for a bit doing some research... any opinions in the meantime are welcome.

<<<<<

Edit:

Just reread something Ive read 10 times this week... I'm an idiot. I thought it said YOUR NAME.

"Provide your company EIN and company name."

So... I don't have to provide my name... paypal would have to look that info up, and what would be the odds of that? So basically I just need a EIN and I'm all set??