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PayPal Tax Info Question....
 

I just got this from PayPal stating they could not verify the EIN information and for me to update it to avoid interruptions happening to my account. Even though it matches to the business name on PayPal. Any other ways to get around this? I had about 120k sales on this account past couple months and passed all the limitations. :)

Hmm, I would suggest you look at the following:

The Business Contact Name is the individual’s name that was provided to the IRS when applying for your TIN or EIN. This is the name that should be listed on your account when verifying your identity. If the name listed on your account is not correct, please upload or fax your documents by following the links on your account.

SSN = Social Security Number
TIN = Tax Identification Number
EIN – Employee Identification Number

Depending on your business type, all three of these numbers can be used to verify your identity with the IRS.

If you do not verify your identity, a restriction will be placed on your account until you do so. You will be unable to send, receive or withdraw funds from your account until you verify your identity.

You NEED to speak to a professional tax/attorney with regards to this issue which is beyond the realms of this board.:ranger:

You didnt answear my question and doubt you can. Anyone that has run into this problem only can.

Thing is my EIN busniess name matches to busniess name on paypal, but i think they might be looking at real names now from the IRS. As the IRS let paypal use their datebase to look us up using the EIN we supply paypal.

This has been discussed. They are looking at the individual's name beyond just the business name. No match, you are screwed.

From your initial message in your first post, it was NOT immediately clear that you were asking whether the EIN with PP cross matched with the IRS records or whether this was possible/avoidable.

My reply (in that the account name MUST be that what was provided to the IRS when the EIN/TIN was applied for) to your first message is pretty close to the subsequent reply you received by unknown5454 after you rephrased your initial post more clearly.:boink:

KingRay discusses this very issue in light of your rephrased question:
***.aspkin.com/forums/paypal-talk/38399-make-sure-your-tax-id-info-matches-100-t.html.

Some issues, such as this can be researched to a sufficient level of understanding (if need be) without having the need to be facing the issue directly myself to be able to respond to it.

:pop2:

The business name must match the IRS records. Yes, PayPal is verifying with a service provider that works for the IRS.

But, the IRS does NOT give them any new information. They just provide a "Match" or "No Match" response.

So if your SSN is previously suspended let's say.

Now you make a new account with the same name, however your provide Paypal with an EIN this time. Paypal checks the EIN and hits a "match" since everything matches.

I understand Paypal can link you by name, address, ip, cookies, items you are selling. But let's say they can't link by the above means to the previous account, would they somehow link the new clean EIN to the old suspended SSN?

My business name does match IRS records but I believe they are looking at the stealth name to the one real name on IRS profile.

Why didn't you have your stealth named based on some type of business? Names wouldn't match but they wouldn't be able to tell.

If anyone has tried using EIN number for stealth account or any other form of Tax information except SSN, please PM me.

Message:

Make sure we have your correct tax ID number

We couldn't confirm your tax ID number. Please check that your correct name and tax ID number are listed in your profile and update them, if necessary. This will help avoid any interruption of your services.

Take care of this now, to avoid interruption to your PayPal service.

You can find more information about the new tax rules and why we’re asking for your tax ID number at www.paypal.com/irs.

Update NowRemind me Later

Any paypal tax experts? :D

Dont push your luck.

If you are not happy with the info supplied by KingRay's posts, jeffweico & many others, then your next discussion is with your own qualified tax professional.

Possibily look up your IRS records and check them against paypal.

Or, phone paypal and ask them to please explain :pop2:

When you've done all that, shot me a pm & I'll reopen the thread to update your good luck story :pop2: