PayPal New Regulation 2011/2012 IRS, TAXES, EIN, SS, 1099 FORM Business Acc. - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Subscriber's Area > Subscriber Discussions

Subscriber Discussions The juicy stuff...

Closed Thread
 
Thread Tools
  #1  
Old 02-06-2012
Junior Member
 
Join Date: Dec 2010
Posts: 57
Thanks: 42
Thanked 5 Times in 4 Posts
Activity: 0%
Longevity: 72%
iTrader: (0)
Default PayPal New Regulation 2011/2012 IRS, TAXES, EIN, SS, 1099 FORM Business Acc.

Hi
I have a question about address on PayPal

I have two PayPal accounts upgraded to a Business Last year so both are Real and I have the EIN # in Paypal.
Problem is that Address added on Ebay & PP exist but I don't have access to them. When I opened the ebay account and PayPal I just put random addresses around my real one. But when PP were asking my for EIN or Social to keep selling I decide to open a Corp to keep selling my items.
One PP has $18500 and the other around $10000 last year.
I'm not sure If PP will going to send me the 1099 but I'm pretty sure they will.
I know that I can see and print the 1099 Form from Paypal, so this way I can report and pay taxes based on my 2011 sales

My question is:

If Paypal send it the 1099 form to the registered address in Paypal and it was returned as undeliverable address. Paypal will limit me or will asking me for info about my Corporations?

Can I do a forward in the USPS from that addresses to my real one ?
Can I change address in Paypal to a friend address as new Corp address?

Please help

thanks
The complete step-by-step guide to get back to selling today!

  #2  
Old 02-06-2012
SUVE's Avatar
Executive [VIP]
 
Join Date: Jul 2011
Posts: 1,223
Thanks: 518
Thanked 243 Times in 197 Posts
Activity: 0%
Longevity: 67%
iTrader: (0)
Default

Quote:
I have two PayPal accounts upgraded to a Business Last year so both are Real and I have the EIN # in Paypal.
Right, so these are your PP A/C in your REAL details & you have the EIN for each of them ??? I thought PP only let you open ONE PP A/C in your REAL details, no ...???

Quote:
When I opened the ebay account and PayPal I just put random addresses around my real one.
Why the need to put random addresses 'IF' these PP A/C are 'REAL' with the respective EIN's ???

Quote:
But when PP were asking my for EIN or Social to keep selling I decide to open a Corp to keep selling my items.
Why are you not simply supplying the requested EIN you already have as you have stated so bearing in mind that this IS also your REAL PP A/C information ???
Why open up a 'Corp' as an avoidance mechanism to this EIN request ???
What am I missing here ???

Please clarify.
Quote:
I'm not sure If PP will going to send me the 1099 but I'm pretty sure they will.
I am pretty sure they WILL send you the 1099 once you hit the prerequisite thresholds, no ???

Quote:
If Paypal send it the 1099 form to the registered address in Paypal and it was returned as undeliverable address. Paypal will limit me or will asking me for info about my Corporations?
Either of those is a very plausible outcome.


I can possibly second guess you here & understand what is going on here but I am not going to risk that, I'd rather you simply explained yourself better.

Please can you clarify this in lieu of the issues/questions raised here within.

__________________
It's an ill wind that blows no good.

Last edited by SUVE; 02-06-2012 at 08:09 PM.
  #3  
Old 02-06-2012
Junior Member
Threadstarter  
 
Join Date: Dec 2010
Posts: 57
Thanks: 42
Thanked 5 Times in 4 Posts
Activity: 0%
Longevity: 72%
iTrader: (0)
Default

Basically this accounts were stealth at the beginning but now both are upgraded to a business, so I think from the date this accounts were upgraded and EIN number was added to each one it is not more stealth. It is a real one PP under the Corp Name.

The only problem is the address added at the begging when I just opened as stealth. (I don't have access to this address) Paypal will send me 1099 to that address and I believe it will be returned to sender.
I worry about it, because I'm not sure if PP will request more info from my company and me if the 1099 is returned to their office.
  #4  
Old 02-06-2012
SUVE's Avatar
Executive [VIP]
 
Join Date: Jul 2011
Posts: 1,223
Thanks: 518
Thanked 243 Times in 197 Posts
Activity: 0%
Longevity: 67%
iTrader: (0)
Default

From within your PP A/C, you can update your PP A/C address details to your correct address & subsequently supply any details they request in regards to the 1099.

You can supply & upload any requested PP documentation via the PP A/C login panel ???

Me thinks there is more to this than meets the eye.

__________________
It's an ill wind that blows no good.

Last edited by SUVE; 02-06-2012 at 10:08 PM.
  #5  
Old 02-07-2012
KingRay's Avatar
Executive [VIP]
 
Join Date: Jul 2008
Posts: 1,484
Thanks: 173
Thanked 264 Times in 203 Posts
Activity: 0%
Longevity: 89%
iTrader: (0)
Default

This sounds like a mess. I would just go speak to an attorney or someone that can straighten all that out for you to where you can understand it all.

seriously...

You got too much going on and without understanding what it all entails.
__________________
KingRay
  #6  
Old 02-07-2012
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,021
Thanks: 5,510
Thanked 9,044 Times in 7,038 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default

Question beyond the forum.

You need to take professional advice to sort out this.
__________________
Ever look at someone and think WhyTF has no one hit you with a shovel yet?
Closed Thread



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
When does paypal mail form 1099-k? xaddo PayPal Talk 5 10-19-2012 12:37 PM
2011 Taxes yoyoman Subscriber Discussions 2 01-24-2012 05:15 PM
PayPal vs taxes---1099? Daga PayPal Talk 1 01-21-2011 11:42 PM
eBay Sellers and Tax Changes New Form 1099-K will debut for 2011 tax year MOONCRICKET eBay Discussion! 1 10-05-2010 03:07 AM


Aspkin Group

All times are GMT -5. The time now is 05:15 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts