Under 20k, Paypal wants Tax ID #

[HurricaneHuntr]

So how do you have 10 paypals? 10 ein? Woukdnt that mke thebirs flag you and your ssn when you have differe nt addresses. Can you explain howba ein is created?

Sent from my SCH-I800 using Tapatalk

[KingRay]

You cant, That is why I said using the EIN method is not really much of a stealth option. just a sort of redoing your real account.

for instance. you burned your real SSN with papal years ago. If and only IF you want to make it a business and treat it as one then you can get an EIN using your SSN and go that route. Paypal will see the business name only(so far) and will make you upgrade to a business account. Then you sort of have a fresh Identity with ebay even though its your real info.

Dont simply do it and think things are going to be smooth though. Dont even bother unless you contact a professional about a business plan first.

Buying low and selling high isnt a business plan. Plus you need to get your estimated tax payments started so you dont have a huge liability in april.

There is much more as well including business depreciation calculations, etc. Not just a hobby once you go with an EIN.

[GreenBean]

Originally Posted by gogi

i have paypal on one name and want to give SS# with other name, would it work?

FFS, How many times do you need to be told that this is NOT a good idea given the SSN number you have previously said you want to use?

No parent should consider doing that to their child.

[GreenBean]

Originally Posted by KingRay

The names doesnt matter because they will make you upgrade to a business account. when you do that then the business name is what matters. The Business name must match the IRS to the letter. The name you give the IRS has to match your ssn.

It really really seriously matters when it is the SSN of your 4 year old child.

I suggest you qualify advice for next time given you get upset when posts get deleted.

Just remember you are certainly most knowledgable in this field BUT you are not a tax professional.

[KingRay]

Originally Posted by KingRay

The names doesnt matter because they will make you upgrade to a business account. when you do that then the business name is what matters. The Business name must match the IRS to the letter. The name you give the IRS has to match your ssn.

I think this post was misunderstood. The person said other name so I assumed they meant "stealth name" If you are talking about another person (ie relative) then dont ever do that. it will get you into more trouble than you want to deal with.

[zeevik03]

KingRay it seems that you know a bunch about this, question just to kinda 100% make it clear:

So I Open a EIN with IRS Name the Company "Number 1" This company is on my real name.
I supply this EIN with the Company name "Number 1" to paypal. In this case it will not work? Or will it?
Will paypal check and see that this company name and EIN is connected to a different owner name, then the name registered with them(paypal)?

Appreciate the answer if you have

[GreenBean]

Payapl want the number, the EIN number at this point. Supplying an EIN is the current layer of protection & makes paypal happy.

Company 1 would be created to allow paypal to see what it wants to see., a name & number

Dont forget that this is to be done with the advice of a tax professional to cover all bases.

[zeevik03]

Thank You GreenBean.

But this brings another question. If you in normal conditions supply paypal with a not real SSN they are able to know that it is not real meaning your name on their file does not match SSN provided.

So do you still think they cannot check the EIN provided in the example and see that the name of the person who opened the company is different then the name provided in their file?

Thanks for your answers, great input here

[renzini]

Originally Posted by Sandy D

Then do one of two things. Get an EIN and use it on one account to test it. ( Most have had success here ). Or you can do it with another new or newer account and test.

How can i get an EIN?

Do I have to open a business?

Hi
I received this message on my Stealth PP account this morning.
I don't know what to do?
I'm close to the $20000 around $17000 and PP sent me this.
Please provide us with your tax ID number. Your tax ID number lets us send you Form 1099-K, as required by the IRS under certain conditions. Find more information about the new tax rules and why we need your tax ID at www.paypal.com/irs.

Can I open a business on to my name(legal), upgrade my Stealth paypal to a business Account, provide the new legal business EIN to them and still selling on my stealth eBay account without any pay pal or eBay restrictions?

This are two eBay power sellers accounts that I don't want to loose.

Please help

Thank you

[HurricaneHuntr]

I wonder if it's going to be possible to open another paypal and link it to the ebay account if the paypal account goes down because you can't supply a ssn... i just hope they stick to their word.. that it won't matter unless you pass the thresholds, if it does they lied to us all along they aren't supposed to limit accounts who don't violate the 20k/200 and if they do... WE are in huge trouble. If we can't use the ebay accounts with other new paypals.. Make sure your paypal's aren't linked ><

[KingRay]

That question is the basis of all these forum threads about EIN's. do a search and you will find your answer in detail. Many many times over.

Originally Posted by renzini

How can i get an EIN?

Do I have to open a business?

Hi
I received this message on my Stealth PP account this morning.
I don't know what to do?
I'm close to the $20000 around $17000 and PP sent me this.
Please provide us with your tax ID number. Your tax ID number lets us send you Form 1099-K, as required by the IRS under certain conditions. Find more information about the new tax rules and why we need your tax ID at www.paypal.com/irs.

Can I open a business on to my name(legal), upgrade my Stealth paypal to a business Account, provide the new legal business EIN to them and still selling on my stealth eBay account without any pay pal or eBay restrictions?

This are two eBay power sellers accounts that I don't want to loose.

Please help

Thank you

[KingRay]

Originally Posted by zeevik03

Thank You GreenBean.

But this brings another question. If you in normal conditions supply paypal with a not real SSN they are able to know that it is not real meaning your name on their file does not match SSN provided.

So do you still think they cannot check the EIN provided in the example and see that the name of the person who opened the company is different then the name provided in their file?

Thanks for your answers, great input here

This also have been discussed to death recently. Paypal compared your name to your SSN when you use SSN. Now when you upgrade to a business account they compare the EIN to the business name now.

SO FAR this has worked fine, Although I would think they would soon be asking for your SSN as well to make sure you are who you say you are. some have been asked for both. Not sure at all why some do and some dont yet but I am testing several accounts now to see what gets SSN or more info requests and what doesnt. using different items for sale as well in case that is the trigger.

As also mentioned in many of my posts, the use of the EIN is NOT a perfect stealthy way to go. Its a way to start fresh with a legit business. with that said, you should really contact a professional tax adviser or attorney to get a REAL business plan in place and estimated tax payments set up before you even bother.

[zeevik03]

Thank You Kingray.

That was the first CLEAR answer on that question.

[livelifewild]

Ok I dont know if someone has asked this before as I have tried to find it. But my question has nothing with trying to avoid paying taxes it has to do with it being a stealth account, pp is already ask for ss or ein or tin. I can not provide ss cause "stealth" do not want to do the ein thing cause I dont want to make any irs or additional problems. Not ready to take it from hobby to hardcore lol.
My question is (finally), what if I was to close the pp account? leave the eby acct that is connected to it alone say for a month or so. Then reregister a pp account either with the same exact info and bank account, or same info and new bank account (either one)?
Then reconnect it to eby account and start selling again. Would this work?

[mercurial333]

Originally Posted by KingRay

I think this post was misunderstood. The person said other name so I assumed they meant "stealth name" If you are talking about another person (ie relative) then dont ever do that. it will get you into more trouble than you want to deal with.

You know this is in the book right?

[KingRay]

Originally Posted by mercurial333

You know this is in the book right?

You telling me or the other person???

[mercurial333]

Originally Posted by KingRay

You telling me or the other person???

You are advising against something that is in the book.