1099-K Issue

[dhunter0294]

Received my 1099-K from PP, my paypal account is setup as stealth business LLC with EIN attached. For some reason the 1099's Payee name isn't the business its the stealth name. What is a tax accountant going to say about this because i'm obviously not this person but am listed on the LLC as the Manager/Owner/Proprietor? Any help would be greatly appreciated.

[Dmshark25]

You can talk straight to your accountant and they will tailor everything the way the IRS likes

[jeffweico]

Is the EIN on the 1099? If so, there should not be an issue. If, however, you used someone's information and their SSN, that person may get dinged for the taxes.

PayPal is supposed to verify the information you give them with the IRS. But they only verify the business name in the case of an EIN, as that is all the IRS will verify.

[dhunter0294]

Originally Posted by jeffweico

Is the EIN on the 1099? If so, there should not be an issue. If, however, you used someone's information and their SSN, that person may get dinged for the taxes.

PayPal is supposed to verify the information you give them with the IRS. But they only verify the business name in the case of an EIN, as that is all the IRS will verify.

Yes the EIN is on the 1099, no SSN was ever or ever can be supplied. That's why I went the EIN/LLC route

[Omgoozle]

The PP was set up by an "agent" of the LLC.

The LLC used to be co-run by someone else but you had a falling out and they are no longer associated with the company.

[markflood]

Originally Posted by dhunter0294

Yes the EIN is on the 1099, no SSN was ever or ever can be supplied. That's why I went the EIN/LLC route

Hi did you receive yours in the mail yet? if so when? I know its available online,

[GreenBean]

Originally Posted by Omgoozle

The PP was set up by an "agent" of the LLC.

The LLC used to be co-run by someone else but you had a falling out and they are no longer associated with the company.

With the added comments PLEASE I am not a tax professional and these are merely my thoughts.

AGAIN, for those who can not comprehend, we do not give tax advice.