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Paypal is now asking for tax id....how long will they wait before they limit my account?

Discussion in 'Ebay' started by bigcasey123, Aug 5, 2013.

  1. bigcasey123

    bigcasey123 Regular Member

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    This is funny because yesterday i made a thread asking if i should give them my ssn when i turn 18 (1st of next month) now i get an email saying they want my tax id....problem is i'm not 18 yet and they need to wait 27 days before i can give it to them. Will they limit my account before 27 days or will they wait?
     
  2. john1444

    john1444 Elite Member

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    Very simple, go to google and search for "apply for tax identification number". Don't evade tax or you are liable for imprisonment.
     
  3. bigcasey123

    bigcasey123 Regular Member

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    I'm not "evading" tax...i just don't know how to pay it! it's so confusing. Hundreds of forms, you have to claim basically everything (i don't even know how people have time to do that), you got to keep track on income from everywhere.
     
  4. innozemec

    innozemec Jr. VIP Jr. VIP

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    yeah, taxes are not that easy and thats why accountants exist. Get an accountant and consult everything with him to be on the safe side
     
  5. monkid

    monkid Power Member

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  6. super11

    super11 Senior Member

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    Its been few months since I was asked to update some information by paypal. I thought, the account would be limited in few days but never happened and I am using it regularly. So, depends on your luck...In this rare case, i must say, I have been lucky :)
     
  7. DougG79

    DougG79 Regular Member

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    You will be given approx 30 days or so and then they will limit your account if you do not provide it. If it were me I would not give them any SSN at all. I would learn how to make another account with your info after your turn 18 and can use another address, phone, ip address etc. Do not sell 200 items on any ebay account or your will get the ssn request.
     
  8. bigcasey123

    bigcasey123 Regular Member

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    So you're basically saying "cheat the system and you'll be fine" am i correct? did you not see where i said i wanted to go legit?
     
  9. shaddypro1

    shaddypro1 Newbie

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    If you wanna go legit then you gotta give up your SSN, They shouldnt be asking for your Tax Id unless you put your paypal account as a business or hit the 200 item/$200,000 limit which you probably did. But if your going legit which is good, make it into a company, depending on where you live. You would like for search on how to register your business in that state. Its not too expensive and it will get you your tax id, hope this helps abit.
    Good Luck
     
  10. shaddypro1

    shaddypro1 Newbie

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    Actually I just remembered, if you do not make it in time they will limit your account.

    BUT, after they limit your account you can still fill in your SSN or your Tax Id whichever youd like and the limit will be removed
     
  11. DougG79

    DougG79 Regular Member

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    Cheat what system? You already cheated it when you signed up for an account account and you were under the age of 18 which is not allowed.
     
  12. bigcasey123

    bigcasey123 Regular Member

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    Actually that's what strange because i didn't hit the 20k mark (most i ever made on paypal is about 2k).
     
  13. DougG79

    DougG79 Regular Member

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    Did you sell 200 items? Some think you have to hit both of those numbers and that is not correct.
     
  14. travanx

    travanx Regular Member

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    Our accountant charges us $220 to do our yearly taxes for my small business. I have done an itemized tax return before and its not that hard.
     
  15. bigcasey123

    bigcasey123 Regular Member

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    @tranvanx
    I'm to small of a business to get an accountant, i'm only 17 and still can't make international purchases from wholesale websites. Right now i'm only selling 1 product (i bought 50 of them on ebay for $0.99 and been selling them for $3.99) i can't make real income (meaning big $$$) until i get a credit card. So i really can't do any of the tax things because i'm a starting business with no funds.

    @DougG79
    It's is both because this is the qoute from paypal
     
  16. bago56

    bago56 Newbie

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    you reached a limit thats all