PayPal question

Wylin

Wylin

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Hello everybody

I have a question about paypal. Over a few days I am gonna earn like more then $1000 and it can increase to $2000 or $3000. Will paypal control it? It's from people and not from adsense. I live in belgium.
I heard that they will control for taxes
Thanks for helping
 
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It's hard to predict what Paypal will do, it almost seems they block accounts at random. But with this amount, if you have actually verified your account with your real name, it will probably be fine
 
I verified with my real name and number but I didn't add a bank account. My paypal account is now in business mode. Still ok?
 
PP will freeze your account if they suspect any money laundering, even if you have set up everything correctly, there is still a chance your accounts will be frozen. But nothing a simple phone call can't solve. But you probably have nothing to worry about man
 
Should I add taxes? If i add 21%, will they call me or freeze my account or something?
 
Don't add taxes to your payment inquiry if you aren't going to file the taxes. You can file taxes even without having a company, so no reason not to
 
I'll get in 1 time $500. Is there a problem with that?
 
I've talked to paypal about my account a few times, mainly for setting up my invoicing. Im not an expert about them. They say any transactions you make, and any transfers out, that are normal business/personal transactions are ok. The only time they flag accounts is when they see problems like: unusually large transactions; too many charge back/complaints. If your transactions are like what most other people/businesses make, then you shouldnt have a problem.
 
OG Mike said:
I've talked to paypal about my account a few times, mainly for setting up my invoicing. Im not an expert about them. They say any transactions you make, and any transfers out, that are normal business/personal transactions are ok. The only time they flag accounts is when they see problems like: unusually large transactions; too many charge back/complaints. If your transactions are like what most other people/businesses make, then you shouldnt have a problem.
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I'll probably get $500 1 time and then $30 each time
 
And if i spread the money over 2 accounts. Will that work?
 
I don't have kik unfortunately. Have you check the paypal forumshttps://www.paypal-community.com/for advice?
 
Thanks! I looked and I found this:
BTW, you know what 1099 tax is? I don't know what that means
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Thanks for reaching out to us here. Great question!

PayPal is required by the IRS to report the sales of goods and services for customers who, in a single year receive:

  • More than $20,000, AND
  • 200 or more payments.
The new IRS 6050W changes apply to all payment providers, including PayPal.

You can find more information and FAQs about the new IRS 6050W requirements on the PayPal IRS 6050W website.
 
Since you are in Belgium, Belgian/european tax laws apply to you, the IRS is irrelevant
 
EU laws on money laundering apply to you. ALWAYS verify your account and ensure you have updated your details to the latest!
 
NFPHosting said:
EU laws on money laundering apply to you. ALWAYS verify your account and ensure you have updated your details to the latest!
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Found this for europe
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Welcome to the Community Forum! Within the EU, there is a receiving limit of €2,500 EUR. When you reach this limit received through your account, we will request additional information from you. This is in regulation with EU compliance laws, which require that we request additional verification from our customers who are receiving funds.



Here’s how to remove the receiving limit on your account:



  1. Go to www.paypal.com and log in to your account.
  2. Click ‘View Limits’.
  3. Select ‘Receiving limit per year’ and click ‘Lift Limits.’
  4. Follow the instructions.
If you don’t have a Business account but you sell items on eBay or on your own website, select ‘Individual’ from the ‘Business Type’ menu and then complete those sections that apply to you.
 
Just be sure you're receiving from a reputable source ..

I will also advice splitting the fund up , Make a withdraw then complete the rest of it.

Best Luck
 
Topiano said:
Just be sure you're receiving from a reputable source ..

I will also advice splitting the fund up , Make a withdraw then complete the rest of it.

Best Luck
Click to expand...

I imagine that this will raise more eyebrows and get your account freezed, because it's in line of how people launder money by funneling it through a different PP and immediately withdrawing it. There is no way to know what the algorithm will pick up on, so it's a matter of good faith. If you aren't doing anything wrong, there is no reason to be afraid. Even if paypal makes a mistake, you can call them
 
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