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Question about ebay/paypal TAX info

Discussion in 'Ebay' started by unc2402, Oct 29, 2011.

  1. unc2402

    unc2402 Newbie

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    well as most of you are aware, when you reach 20k in sales in a year now, paypal requires you to post your social or tax ID number, so it can be reported to the IRS. I am close to hitting this number of 20k, and would hate to shut down my sales...would I be clear if I started using another paypal acct is someone elses name to have my payments sent too??? Obviously the ebay and paypal names would not match, dunno how quick ebay/paypal is to catch that, but Id only have to do this for about 2 months...what kind of problems could I run into here...any help is appreciated. thanks
     
  2. eBayMafia

    eBayMafia BANNED BANNED

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    If your sales are coming from eBay, you would be linking your eBay and new PayPal account. eBay's system would catch this and lock both accounts for having 2 seperate paypal accounts tied to one eBay account.
     
  3. unc2402

    unc2402 Newbie

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    this is still true even after the first paypal account it removed from ebay?? i know ive done this before, had sales go to two different paypal accounts, but that was years ago, and before all of the tax issues...just dont want to risk my good standing acct, but costing me a lot of $ if i cant sell during christmas season
     
  4. logical

    logical Newbie

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    i second paying the tax, you get caught dodging tax they will throw the book at you.
     
  5. marusia

    marusia Senior Member

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    I'm not going to be using paypal anymore. When I found out about the taxes, I was upset, BUT the IRS is regulating EVERYONE, so you will be paying taxes on any processing payment used, regardless.

    I don't use paypal anymore because they like to freeze accounts.
     
  6. tradexguy

    tradexguy Newbie

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    That's the way it is... big business but big burocracy ties