Paid my Taxes, eBay sent me this

[Reloot]

Fully paid my taxes in Feb 2022, and I get this message a week ago.

Btw everything is correct on my ebay and tax return.

Any help? What do I do/does this mean?

I don't have a TIN, I use my SSN.


You received a Form 1099-K from eBay for your 2021 sales on or about January 31, 2022. We’re reaching out to you because your name and/or Taxpayer Identification Number (“TIN”) on your eBay account do not match IRS records. Please log into your eBay account and review and update your legal name and TIN information by the end of September. After that date, eBay will send a required B Notice1 or a Notice of name/TIN mismatch to sellers who have not updated their information, which may result in tax withholding if the seller does not respond with documentation required by the IRS.

Please take a moment to update your account information now:
Log into your eBay account
Update your legal name and TIN
You can also find instructions on how to update your account on our Seller Help page: Changing your account settings | eBay.

Please remember to update your account with your legal name and TIN by the end of September. If you don’t update your account, you may receive a formal notice of backup withholding2. You’ll need to respond to this notice with required documentation or your gross payments will be subject to payment block, and ultimately backup withholding. For a First B Notice, you will be required to provide a valid Form W-9. For a Second B Notice, you will be required to provide a copy of your SSN Card or Letter 685C3 if you are an individual, or 147C4 if you operate as an entity.

It only takes a couple minutes to update your account information. We strongly encourage you to update it now to avoid receiving a B Notice and potentially having your gross payments on payment block or subject to 24% backup withholding.

We appreciate your partnership and look forward to continuing to list your items on our platform.

As always, thank you for selling on eBay.

The eBay Selling Team

[Reloot]

So I think they used my business name on my 1099k. My business name was “sole proprietor”. And that’s the name on my -099k. Is this how business accounts work with eBay 1099k?



https://www.aspkin.com/forums/paypal...unt-owner.html
Right?

[agent006140]

these days you can get a 1099 without reaching 200 transaction and 20k sales.
most sellers would get a 1099 based on their SSN,but you should go to IRS website to find out your situation

https://www.irs.gov/individuals/inte...on-numbers-tin

Originally Posted by Reloot

So I think they used my business name on my 1099k. My business name was “sole proprietor”. And that’s the name on my -099k. Is this how business accounts work with eBay 1099k?



https://www.aspkin.com/forums/paypal...unt-owner.html
Right?

what TIN did you use for your Ebay seller account?

[rsot]

Originally Posted by agent006140

what TIN did you use for your Ebay seller account?

Thought OP said he used SSN not TIN

[Reloot]

Yes, SSN is fine, name is fine... but on my 1099k from ebay they wrote my REAL name as what my business name was titled which was Sole Proprietor.

Do I just change my business name to my full real legal name?

[dclcruiser808]

For legal reasons you should just register your business with the state. It’s not hard and just takes time and patience. For my state my sba (small business administration- federally funded group of people whos job it is to aid small business owners on the journey) even has a checklist and links of exactly where to go to get all appropriate documents.

Just for the record to clarify for anyone reading this in the future: registering your business with the state should be done prior to even doing business as “coins-r-us”. Doing so will protect you legally and will be the smart decision in the long run. When registering you pick a name for your business and secure that you are the owner of that business name. If you dont, someone could legally and easily take the name and anything going to that business name would legally be theirs. After picking the name you have to define what kinda business and i think the options are sole proprietor (self), there’s one for more than one person, then theres corporation; which whatever the options are: it’s just based on how big your…. I mean… amount of people/employees there are. Reason for that is to define who is liable if while i’m in your coin shop a bag of pennies suspiciously falls on my car and it blows up…. Well if your filing to be a corporate coinshop then whoevers name is next to ceo is liable.

There’s other stuff thats important like llc- limited liability company, dba doing business as and the tin is the business world version of a ssn so its just a means to keep track and make sure they’re Taxing everyone…. Being tin is tax ID number. Also if youre bigger than a sole proprietorship or partnership: you need an ein Employee identification number so records can be kept for when the business issues paychekcs and all the deductions are taken out.

Golly I forgot my purpose here and I apologize if this is just not helpful. Least to say, visit your states sba website and consider requesting help, after all that is their job.

The sba is also good means at acquiring loans and just plain getting free money. Search for the yt channel Skip or it might be Hello Skip: the guy gives updates on new grants and stuff that u could qualify for free money just because you’re a woman of color who’s disabled after serving in the military. <— know any chicas like that? Tell them theres money the government is trying to give them!

Hope i helped. Ok bye

[rsot]

just a ref: http://www.aspkin.com/forums/ebay-su...-accounts.html