PayPal wants my SS#
10-04-2011, 06:13 AM
#111
Member
Join Date: May 2011
Location: Kentucky
Posts: 74
I have gotten these emails from Pay Pal and Wells Fargo and have never had an account with either. I also get emails from the "IRS" and they are not legit either. I have forwared the irs ones to the real IRS. I would check with those companies and the IRS before sending anything. And. make sure the sites are secure before sending anything sensitive.
10-04-2011, 06:42 AM
#113
Super Member
Thread Starter
Join Date: Aug 2010
Location: Upstate, SC
Posts: 2,164
thank you everyone for your comments.
as Charming posted:
It is correct why they are asking you to provide because you met one of the requirments and you are close to the other as per this:
What is Internal Revenue Code (IRC) Section 6050W? Under the new legislation, we’ll report to the IRS the total payment volume received by US account holders whose payments exceed both of these levels in a calendar year:
$20,000 USD in gross payment volume from sales of goods or services in a single year
200 payments for goods or services in the same year
The IRS changes apply to all payment providers, including PayPal and include all sales that occur on or after January 1, 2011, with the first reports going to the IRS in early 2012. Our goal is to help PayPal sellers understand and comply with the new requirements.
Before your payment volume exceeds the reporting thresholds, you’ll be asked to add your tax ID number, such as a Social Security Number (SSN) or Employer Identification Number (EIN), to your existing account(s), if you don’t already have one on file.
So I do have to give them my social security number.
I agree.. never click links in emails. Always research before giving information.
again.. thank you everyone :thumbup:
as Charming posted:
It is correct why they are asking you to provide because you met one of the requirments and you are close to the other as per this:
What is Internal Revenue Code (IRC) Section 6050W? Under the new legislation, we’ll report to the IRS the total payment volume received by US account holders whose payments exceed both of these levels in a calendar year:
$20,000 USD in gross payment volume from sales of goods or services in a single year
200 payments for goods or services in the same year
The IRS changes apply to all payment providers, including PayPal and include all sales that occur on or after January 1, 2011, with the first reports going to the IRS in early 2012. Our goal is to help PayPal sellers understand and comply with the new requirements.
Before your payment volume exceeds the reporting thresholds, you’ll be asked to add your tax ID number, such as a Social Security Number (SSN) or Employer Identification Number (EIN), to your existing account(s), if you don’t already have one on file.
So I do have to give them my social security number.
I agree.. never click links in emails. Always research before giving information.
again.. thank you everyone :thumbup:
10-07-2011, 09:53 AM
#119
Super Member
Join Date: Jul 2009
Location: Southwest Kansas
Posts: 4,820
Originally Posted by bevannthomas
How do you know who it is for sure? She need to call to make sure, don't you think?
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