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Old 10-11-2012
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Default A little help with paypal and EIN ... 1099

So I thought after researching the topic that I had it all figured out but now it just hit me. Does paypal send out the 1099 or does the IRS? If paypal sends it out, then the address would have to have forwarding from your stealth to your legit address, correct? But even if the mail is forwarded, isnt the 1099 going to be in your stealth name and not the one that coincides with the listed EIN? Can someone help me to understand this better, I want to make sure I am all set and ready for the IRS if I do reach the 20,000 and 200 threshold.
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Paypal sends it. A 1099 is sent by people you do business with. Seek professional help!

Last edited by TGMT²; 10-11-2012 at 04:36 PM.
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Quote:
Originally Posted by slim jim View Post
Paypal sends it. A 1099 is sent by people you do business with. Seek professional help!
I am going to seek professional help but in the meantime, will it present a problem if the 1099 is sent to my stealth name? What is the workaround for this? Should I have mail in my name and in my stealth name forwarded from my stealth address to my home address? Does the post office monitor how many different names are having mail forwarded to the same address?

Last edited by hazy; 10-11-2012 at 01:04 PM.
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the workaround for this is that you should be seeking professional assistance BEFORE setting up these accounts so that you understand what you are supposed to be doing.
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There is NO reason why the 1099 should be in "stealth" name. If you provide EIN/SSN that is what they will use to issue your 1099 seeing that the info has to match what the IRS has anyways so you wont go far with false info.
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Guys, I am just asking for a little clarification thats all. I thought I would be past the point of ridecule especially being a subscribed member. I just need a little help, I dont understand the process for issuing 1099k. From what I understood previously, I had thought I could register an EIN with my real info, link it to a stealth paypal account, forward mail from my stealth address to my true address, pay my taxes, and everyone is happy.
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who is ridiculing you? we are telling you the proper information. this forum does not help people with their tax problems but we are steering you in the right direction, SEEK PROFESSIONAL HELP.
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TAX ADVICE comes from a TAX PROFESSIONAL>

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