Forum

Please provide Tax ID email from paypal
 

We're asking for your tax ID number due to new IRS rules. Your tax ID
number is one of these:

- Your Social Security number
- Your Individual Tax Identification Number
- Your Employer Identification Number

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

- $20,000 in gross payment volume for goods or services
- 200 payments for goods or services

We want to help you continue to sell with PayPal and to avoid any
interruption to your account. It's easy — here's how:

1. Log in to your PayPal account.
2. A message will appear asking you to update your information.
3. Click Provide Now.

If you have multiple PayPal accounts, repeat these steps for each account.

We appreciate your help in complying with these IRS rules. For more
information, see our FAQs on the IRS reporting requirements:
www.paypal.com/irs




How long will I be able to keep selling before my ship blows up? Or can I just wait until the next calendar year and start selling again?

I still have a few items that are still listed on ebay I guess I'm going to go ahead and let those transactions come through? Then stop selling on the account? I have backups ofcouse but I just got power seller on this account.

When someone gets this email what should they do? o_o

I got the message, and all it took was one week to get limited. Get that money out asap if you can not supply ssn.

do you get limited when you cross both 200, and $20,000? or if you get close to that amount? I got my notice a few weeks ago I am not even close to that amount. I am in process of getting a ein.

they go by an estimate, a guess if you might reach that amount you do not have to actually hit the mark.

So once someone gets this message and they do not want to provide a ssn or ein the best thing to do is stop selling asap and take out all the money?

Is this account unuseable now?

Pretty much, the account is going to become worthless without handing over the things they asked for.

Time to move on Maria.

Hmmm okay so what if I register an EIN number and just give it to them. Will they mail a 1099 form to my stealth address or the address I registered under my stealth acc?

I don't mind paying taxes. I just don't know what to do after they give me the 1099 form and how they give me the 1099 form. Do I need to a hire a CPA? o_o

The question is.. WHY ARE YOU GUYS NOT preparing for this! You all knew it was coming from last year.

prepare? How.

I got back up accounts, I really like this acc cause its 100% positive, got a address I have access to, power seller. I'm just wondering if I should give them my tax ID or not. I dont know the first thing about paying my taxes.

Also can I have more than one EIN? Will they mail my 1099 form to my stealth address or the address I use for my EIN registration.

I believe they will send the 1099 to your stealth address which is why you should have your mail forwarded from your stealth to your real address. My question is, why do some forums users say that they will link you if you give them your EIN and others say they wont? If they could link you by EIN then this would mean any and all stealth account's either on their way to or who already have hit the tax requirements would be out of business...How could this be??