Dear Blackhatters,
I am not from US and have been selling on ebay for a few months now. I have a verified paypal account with my real bank account.
I received a message from paypal like this:
Because you receive payment for goods or services through PayPal, we need to confirm your taxpayer status. This verification is required to comply with US. Internal Revenue Service (IRS) as well as State tax reporting requirements.
If your taxpayer status isn't confirmed, your PayPal account will be limited, and you won’t be able to request or receive money.
If you’re subject to U.S. tax reporting requirements, we’ll also need to collect your tax identification number and also ensure that your business type is correct within your Profile (Business Information section) to prevent reporting issues in the future.
The taxpayer identification number you provide will be used to submit Form 1099-K to the IRS and the state associated with your PayPal account's primary address when the payments you receive in a calendar year meet the income reporting thresholds set by the IRS or the applicable state. You can learn more about your state and IRS reporting requirements at.
If you have multiple PayPal accounts, you’ll need to verify your taxpayer status for each account.
If you have already provided your tax identification number, it’s possible that you are receiving this message because the combination of your Name/TIN didn’t match IRS records.
So I am obviously not going to give them a fake SSN. So is setting up an LLC and get an EIN from IRS the legit way to go? I have never been suspended on ebay so I am not considering stealth for now.
If anyone have successfully got an LLC and EIN, I would really need some suggestions of good companies that help me do it.
Also, I have only $5000 in sale, how much time do I have left till I am no longer to accept money on my paypal? Thank you!
I am not from US and have been selling on ebay for a few months now. I have a verified paypal account with my real bank account.
I received a message from paypal like this:
Because you receive payment for goods or services through PayPal, we need to confirm your taxpayer status. This verification is required to comply with US. Internal Revenue Service (IRS) as well as State tax reporting requirements.
If your taxpayer status isn't confirmed, your PayPal account will be limited, and you won’t be able to request or receive money.
If you’re subject to U.S. tax reporting requirements, we’ll also need to collect your tax identification number and also ensure that your business type is correct within your Profile (Business Information section) to prevent reporting issues in the future.
The taxpayer identification number you provide will be used to submit Form 1099-K to the IRS and the state associated with your PayPal account's primary address when the payments you receive in a calendar year meet the income reporting thresholds set by the IRS or the applicable state. You can learn more about your state and IRS reporting requirements at.
If you have multiple PayPal accounts, you’ll need to verify your taxpayer status for each account.
If you have already provided your tax identification number, it’s possible that you are receiving this message because the combination of your Name/TIN didn’t match IRS records.
So I am obviously not going to give them a fake SSN. So is setting up an LLC and get an EIN from IRS the legit way to go? I have never been suspended on ebay so I am not considering stealth for now.
If anyone have successfully got an LLC and EIN, I would really need some suggestions of good companies that help me do it.
Also, I have only $5000 in sale, how much time do I have left till I am no longer to accept money on my paypal? Thank you!