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[markflood]

We'll use your tax ID number to send tax Form 1099-K to you and the IRS if the payments you receive in a calendar year go above both of these levels:

$20,000 USD in gross payment volume for goods or services
200 payments for goods or services
Please provide your tax ID number today. That will help you continue to sell with PayPal and avoid any interruption to your PayPal service.

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I got this notice today, should i ignore it, it get this when i login into my paypal.
I am not even close to the 20,000, I am only 20% there.

Sales to date: $2,197.41

Transactions: 133

[Artann]

if you can then you should and if you cannot then just hope that you don't get suspended if you keep selling.

[newjerseymax]

Turn it into a business account, get your EIN and be prepared to pay taxes...

[markflood]

I am using this as a stealth account. Oh course I report my taxes but my sales not close to the requirement : 20,000 and 200 transactions. not "or"
I only got this message in my paypal not from ebay.
Its okay to ignore it since I not even playing on selling near 20,000 sales this year? my sales this year alone first 7 months this year is Sales to date: $2,197.41.
Anyone with any experience in this. (I guess you can blame congress making small businesses tougher to do business)

[Artann]

ignoring it depends on how fast you made those sales. In my experience if you sell fast and they send you this note and you don't provide the info = suspension.

[markflood]

I Made most those funds in 4 months, little over 2,000 dollars. This is paypal asking not ebay. what if i don't provide this information even if i only sell $7,000 this year and only 400 items, its not the 20,000, and 200 item limit. I Didn't break any tax rules so what gives!

[mercurial333]

Originally Posted by markflood

I Made most those funds in 4 months, little over 2,000 dollars. This is paypal asking not ebay. what if i don't provide this information even if i only sell $7,000 this year and only 400 items, its not the 20,000, and 200 item limit. I Didn't break any tax rules so what gives!

They will limit you one way or another next year, if you don't provide.


I'm sure they also don't mind having your EIN/SSN on file in case they need to collect from you.

[Artann]

Originally Posted by mercurial333

They will limit you one way or another next year, if you don't provide.


I'm sure they also don't mind having your EIN/SSN on file in case they need to collect from you.

I agree with the above statement.

[biggunn]

Originally Posted by markflood

I Made most those funds in 4 months, little over 2,000 dollars. This is paypal asking not ebay. what if i don't provide this information even if i only sell $7,000 this year and only 400 items, its not the 20,000, and 200 item limit. I Didn't break any tax rules so what gives!

133 out of 200 transactions is starting to get up there. I've heard of paypal doing this when they see an account trending towards the $20k or 200 transactions. Unfortunately, this account will probably get limited eventually.