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I have a small business that I run out of my home. I have a tax ID# that was given to me by the state of Texas so that I don't have to pay sales tax on items I buy for use in my business. When I pay my sales tax to the state, this is my ID#. It is NOT my SS#!
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Originally Posted by kriscraft99
this is the message when I sign into my PayPal:
Please provide us with your tax ID number. Your tax ID number lets us send you Form 1099-K, as required by the IRS under certain conditions. Find more information about the new tax rules and why we need your tax ID at www.paypal.com/irs I just don't know why they need it if I only meet one of the stipulations - not both. I guess I'll be making a phone call in the morning :roll: |
Originally Posted by sharoney
I have a small business that I run out of my home. I have a tax ID# that was given to me by the state of Texas so that I don't have to pay sales tax on items I buy for use in my business. When I pay my sales tax to the state, this is my ID#. It is NOT my SS#!
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thats got to be a scam. don't do it and call paypal
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DO NOT DO THAT! Call Paypal customer service...and before that... give your tax man a call and ask his advice.
NEVER EVER GIVE that type of info to PayPal...etc. Tooooo many scumbags sniffing for someone who's not guarded enough. . |
Originally Posted by np3
Originally Posted by kriscraft99
oh it is legit.
When I sign into my PayPal account - there it is, in big red letters. I know that once you reach $20,000 in transactions AND 200 transactions that you have to file a 1099 for taxes here in the States. I'm over the 200 transactions but no where near $20,000. Kris
Originally Posted by julybaby8
You shouldn't give your social security number. I've never heard that. Are you sure it is legit and not a scam?
EDIT: I see others posted that as well. |
folks, this is not a scam.
read: http://www.paypal.com/irs which redirects to: https://cms.paypal.com/us/cgi-bin/ma...ng_us/IRS6050W |
A. This isn't a scam, it's a legitimate requirement for people that sell and collect money through paypal or any other merchant services provider.
B. As Scissor Queen stated, several times, Your Taxpayer ID, as far as the federal government is concerned, is your SSN. C. If you are doing business, you should get an EIN, which you can then give to Paypal instead of your SSN. They need one or the other to provide you and the IRS with information. If you have an EIN, they can report using that and the IRS will figure out that it goes with your SSN. D. There are other types of Taxpayer ID numbers, specifically those provided by your state as a function of your paying sales taxes for the purchases made from you. This TID also serves to provide wholesalers with the reporting mechanism required to not charge you sales taxes on purchases that will be re-sold by you. These TID's are not required by Paypal. Most wholesalers will require that you provide them with a copy of your business license, which shows your EIN and your state TID. E. The bottom line is that if you have a account with Paypal, you'll need to give them either a SSN or an EIN to continue to receive payments through Paypal. If you choose to use an EIN, they may require you to upgrade to a business account. They may require you to have one on file even though you may not achieve the transaction/dollar amount threshold that requires them to provide you and the IRS with 1099 information. |
PayPal ask me to send them my bank account number. I called my bank and they said "NEVER" do that. I think PayPal is getting a little too big for themselves. PayPal may be OK but the person behind the scenes that you're giving that number to may not be honest. Hope everyones advice has helped.
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Send the entire email to: [email protected]. They will let you know if this is real. Anytime I receive email from paypal that looks suspicious, they get back to me. I have seen some really authentic looking emails that says they are from PayPal so when in doubt I double check.
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