same EIN for multiple accounts

[dugunz]

What's the diffrence between a TIN and an EIN? Can I use a TIN to register with Paypay to report my taxes?

Can i register for one TIN/EIN with the IRS and use it for all of my accounts. (current and future accounts). This is becoming a big problem for me... I dont mind having to pay the taxes due, but I dont want to have a bunch of buisness's open due to the fact that my accountant might get suspicious of that since I use him to start my buisnesses for me

I just want to pay all my taxes through one TIN/EIN to minimize paper work I guess... So I can say to the IRS here is my TIN/EIN for ALL of my internet sales for ALL of my accounts. How much do I owe you?

What im asking is does each account have to be its own seperate registered buisness?

I do have a DBA business open and registered but the TIN is my SSN, I prob shouldnt use that right?

Also, as far as info matching... If the name of the buisness, ID# and name it is registered under all matches correctly and I plug it in to paypal which is under a diffrent name will that raise flags?

[guitarca18]

You don't really state if you're operating on stealth accounts or not. Stealth accounts with one shared EIN = linked. Ebay/paypal will be able to determine who owns the EIN if you registered as a sole proprietor.

If you are operating stealth accounts and you change your info completely to another name, address, etc it will most definitely raise flags. Changing to an EIN may look a little less obvious if your EIN is registered with a business structure.

Do some reading on the forum. I'm currently in the same boat. I'm heading down to my local bookstore shortly to look into the ramifications of different corp structures on my taxes and how it will affect me to keep all my stealth accounts somewhat still stealth. I.E. many different EIN's registered as businesses..

[dugunz]

I have one account under my name and two stealth accounts that are bolth over a year old with no problems

[dugunz]

Originally Posted by guitarca18

You don't really state if you're operating on stealth accounts or not. Stealth accounts with one shared EIN = linked. Ebay/paypal will be able to determine who owns the EIN if you registered as a sole proprietor.

Will they be able to determine who owns the EIN if I register as an LLC instead of a sole proprietor?... I do also own an LLC company with a partner that i can use that we also do share the profits of an ebay account. But the account is registered unter a stealth name.

[guitarca18]

Don't quote me on it but I don't think so....Might be wise to wait a bit longer and see how others do with the LLC thing. From what I have read they are verifying the EIN Number, Business Name, and possibly start date of the business (can't remember if this last one is amazon or paypal) with the IRS.

[KingRay]

They are verifying everything now it seems. The personal name must match the Tax ID # which in turn has to match the IRS and your SSN. Kinda hard now if you want stealth. Just isnt going to work using Tax ID with stealth accounts as of yet.

Its simple really.

as for multiple tax ID's you should use it for all accounts and businesses and have your accountant separate it all for you at tax time.

For the SSN for tax ID. really doesnt matter now because when/if they try to verify it then it will see who you are.

I just covered this 2 days ago on what happened to me.


One more thing. It doesnt matter what you have entity wise, LLC, sole Prop, DBA, etc, They can look it up just as easy as any other way.

I dont want to sit here nad retype all this but everything you asked is covered in these forums.

There isnt one issue with EIN, TIN, etc that has not been answered in detail.