I haven't sold anywhere near $20k but they are still wanting my social security number.
Has anyone else here run into the same situation? Kris |
You shouldn't give your social security number. I've never heard that. Are you sure it is legit and not a scam?
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I've never heard of that either. Call customer service!
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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?
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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 kriscraft99
I haven't sold anywhere near $20k but they are still wanting my social security number.
Has anyone else here run into the same situation? Kris ANYONE OVER THE INTERNET!!!!! |
I think it's $20K OR 200 transactions ... not "and"
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Are you getting this in an email; if so run like crazy? If Pay Pal needs anything from you they'll have a message on your account. I get emails constantly from Pay Pal (supposedly) to update my account but I just delete them all. This scam has been going around for years. I now get them from Wells Fargo since they bought a bank chain saying the I need to update as well; my account has been closed with them for over 5yrs; I delete those as well.
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Originally Posted by marknfran
Originally Posted by kriscraft99
I haven't sold anywhere near $20k but they are still wanting my social security number.
Has anyone else here run into the same situation? Kris ANYONE OVER THE INTERNET!!!!! |
I thought it was OR as well.... best to call and make sure.
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Originally Posted by romanojg
Are you getting this in an email; if so run like crazy? If Pay Pal needs anything from you they'll have a message on your account. I get emails constantly from Pay Pal (supposedly) to update my account but I just delete them all. This scam has been going around for years. I now get them from Wells Fargo since they bought a bank chain saying the I need to update as well; my account has been closed with them for over 5yrs; I delete those as well.
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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?
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This is true...I worked for Soc Sec...do not give out your no. A tax ID is not your Soc Security no...That is issued to you when you call IRS and ask them to issue you a Tax ID no. for reporting Self Employment income...i.e. selling on ebay up to 200 or 20,000...NEVER give out your SOC SEC No...
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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. |
no! no ss to anything especially on line
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It is 20K AND 200 transactions. Are you going to PP through a link in your email? Or are you logging in through a bookmark?
And yes, your SS # can be used as your tax ID # for a sole proprietorship. |
I just logged into PayPal and this is what it says:
Starting in 2011, all US payment providers including PayPal will be required by the Internal Revenue Service (IRS) to report sales information to the IRS about certain customers who receive payments for the sale of goods or services through PayPal. We want to help you understand these changes. Applies to sellers receiving over $20,000 in gross payment volume AND over 200 payments Applies only for sales on or after January 1, 2011 Questions? Login to your account or call 1-888-221-1161 |
Barb - I got an email from PayPal. I ***never*** click links, I went to the PayPal website and signed in like I normally do and there it is... "we need your tax information".
I just don't understand why they need it if I don't meet both requirements. It makes me a little scared :?
Originally Posted by ptquilts
It is 20K AND 200 transactions. Are you going to PP through a link in your email? Or are you logging in through a bookmark?
And yes, your SS # can be used as your tax ID # for a sole proprietorship. |
I just logged in and I did not get any message like that.
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I DON'T HAVE PAY PAY, BUT BE CAREFUL AS IT MAY BE A SCAM.
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I didn't take time to read all the answers, but it could very well be a scam. Don't EVER send anyone online your SS#!
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I would give them a call in the morning.
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dont give it to them no no no no
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ive had my paypal account for over 10 years- they have never requested anything like that from me- i would be doing some serious research- i really do not think they can ask for it- it sounds like scammers trying to get important information from you....contact customer service directly- you call them-do not give out information to someone who calls you and says that's where they are from- when you call them you know you are talking to them-
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This is a fairly new ruling...
I haven't heard anything from them yet....I wonder if it is 200 in 1 year or over the lenght of the account... |
Never give your SS number to sites like this.
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That is weird, let us know what happens.
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Pay Pal has all the info needed to get in touch with you privately.
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Just another way for the government to get more money from us working folks. Screw them!
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Originally Posted by marknfran
Originally Posted by kriscraft99
I haven't sold anywhere near $20k but they are still wanting my social security number.
Has anyone else here run into the same situation? Kris ANYONE OVER THE INTERNET!!!!! DITTO DITTO DITTO DITTO DITTO!!!!!!!!!!!!!!!!!!!!!1 |
Originally Posted by kriscraft99
Barb - I got an email from PayPal. I ***never*** click links, I went to the PayPal website and signed in like I normally do and there it is... "we need your tax information".
I just don't understand why they need it if I don't meet both requirements. It makes me a little scared :?
Originally Posted by ptquilts
It is 20K AND 200 transactions. Are you going to PP through a link in your email? Or are you logging in through a bookmark?
And yes, your SS # can be used as your tax ID # for a sole proprietorship. If you don't give it to them they may suspend your account. Paypal is required by the government to report to the IRS. |
Unfortunatly it IS an either or situation.
They figure if you have received $20,000 in funds OR have received atleast 200 transactions, then it IS a source of income and MUST be reported to the IRS. I am in the boat of running a personal home business. It will probally be a long... long... time before I make it to $20,000! but!!! 200 is right around the corner and then it will be required. |
Due to the new tax laws that were passed along with the Obamacare bill, Paypal is now required to report all payments over 20,000 per year to the IRS, or report all accounts doing over 200 transactions/year. To do that, they need a tax number from you that id's you to the IRS.
If you don't feel like giving them your SSN#, you can easily apply for and get/use a TID (taxpayer ID number). It's a simple form that you fill out for the IRS, and they issue it for you. If you're operating a business of any sort, it's a good idea to get a TID and give that to entities you're doing business with instead of your SSN. Any wholesaler you're doing business with will require you to have a TID, so you can buy your supplies and/or resale goods without having to pay retail sales tax on it at the wholesale level. |
Most businesses will tell you that they never ask you for your password or your SSN. It sounds like it's a Scam trust me some are so elaborate that they can copy a business website so it looks like the real thing, they've copied major banks logos, same wording everything. Your best bet is to call Paypal customer service, I've only ever dealt with them once and they were very helpful.
They have all your contact info they would/should contact you directly if they need something like that. Be extremely careful with this. |
There are commercials on TV that tell us not to give out our SS number on-line because no legitimate company would request it that way. TO: Don or Cindy - whoever wrote it - thanks for the tax info on the TID. Good to know.
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Your TaxID number is not your SS #. It is a number that businesses have for payment of sales tax charged on items sold.
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Originally Posted by DogHouseMom
I think it's $20K OR 200 transactions ... not "and"
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I not only get the emails and the BOX at my account, but now they are calling me....I have over 200 transactions, but no where near the $20K yet..and don;t plan to be..
scuttle butt online is that next year it will be mandatory for everyone doing any selling online...state are hurting for tax revenues! |
I would call them to make sure.
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Originally Posted by sharoney
Your TaxID number is not your SS #. It is a number that businesses have for payment of sales tax charged on items sold.
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