Got 1099k in the mail from Paypal even thou I never gave them an EIN/TIN/SSN

[mercurial333]

Is this normal for them to send a 1099k to my address even thou I have no SSN/TIN/EIN for this Paypal account.

I never provided it SSN/EIN, they still asking for it..

[KingRay]

Did the form have your SSN listed on it?

If so you either gave it to them and forgot about doing it, OR They obtained it via your bank account or attached CC on file.

There isnt any text pertaining to info exchange when it comes to " required info for IRS reporting" Thats a different deal than exchanging info "just because they want to"

did you even hit the IRS limits this last year? .

If it doesnt have your SSN on it then they are just sending them to all business accounts since you have to file on it anyway. They see it as being nice and helping you pay your taxes correctly.

[GreenBean]

http://www.aspkin.com/forums/amazon/...nt-report.html

Read the above thread in the amazon sub-forum.

May well be that paypal is going the same way.

NB, for you gloom merchants this is merely conjecture until more info comes in 2/3

[degsey69]

There has been another thread sililar to this today, yes you will get a 1099 if you do not provide an EIN number in Amazon. Thats why if you sell volume or high numbers its a business and proper accounts should be kept.

The people on here visit the unfairness sometimes of ebay and amazon but surely we all want to pay tax on earnings to the IRS, avoiding it is a felony.

[mercurial333]

Originally Posted by KingRay

Did the form have your SSN listed on it?

If so you either gave it to them and forgot about doing it, OR They obtained it via your bank account or attached CC on file.

There isnt any text pertaining to info exchange when it comes to " required info for IRS reporting" Thats a different deal than exchanging info "just because they want to"

did you even hit the IRS limits this last year? .

If it doesnt have your SSN on it then they are just sending them to all business accounts since you have to file on it anyway. They see it as being nice and helping you pay your taxes correctly.

Never provided them. Yes I hit the limit. The Ebay account is long gone thou.

There is no TIN or SSN in the "Payee" field on the 1099 form, so I assume they have no SSN, TIN, EIN to give the IRS. How will that pan out?

[GreenBean]

Originally Posted by mercurial333

There is no TIN or SSN in the "Payee" field on the 1099 form, so I assume they have no SSN, TIN, EIN to give the IRS. How will that pan out?

If your paypal has had X amount of funds received then paypal itself could be sending the form out to cover its own back.
Must be happening to comply with IRS reporting requirements.

[KingRay]

Originally Posted by mercurial333

Never provided them. Yes I hit the limit. The Ebay account is long gone thou.

There is no TIN or SSN in the "Payee" field on the 1099 form, so I assume they have no SSN, TIN, EIN to give the IRS. How will that pan out?

if there is no number in that payee box then you received it and not the IRS. You are still liable for it though. Its one of those things that you just dont want to chance. Just report it all.

What if they DID sent it to the IRS and they just match it up when you file. That match might simply trigger an audit since it didnt match your income but somewhat matched the info.

Not worth the trouble. Just report it and go on to this years issues.



Really I wouldnt chance it at all with the IRS this year. I think they are sending them on everyone regardless to save their ass but we will see.

[mercurial333]

Originally Posted by KingRay

if there is no number in that payee box then you received it and not the IRS. You are still liable for it though. Its one of those things that you just dont want to chance. Just report it all.

What if they DID sent it to the IRS and they just match it up when you file. That match might simply trigger an audit since it didnt match your income but somewhat matched the info.

Not worth the trouble. Just report it and go on to this years issues.



Really I wouldnt chance it at all with the IRS this year. I think they are sending them on everyone regardless to save their ass but we will see.

Not quite sure how the IRS can match you with the SSN/EIN/etc.
Will ask the tax guy, just waiting for the Amazon form now.

[KingRay]

They wont match it 100% but your name may come up for an audit because it somewhat matches. You never know and not reporting it would be more of a mess. You are supposed to anyway so just report it and you wont have to worry for the next couple years.

What if they DO have software that can somewhat match it up with the SSN? You never know what they have in their info obtaining arsenal. I wouldn't chance it.

IF they get a close match but not exact, all they have to do is contact your bank and get your SSN. Then what??

Not worth the hassle at all.