Has Paypal Asked For Your Tax ID Number?

[Hedji]

So, I guess I've been selling quite a bit this year, and paypal has taken notice. This comes up frequently when I log into my account:



Has anyone else done this? I've been putting them off for months, but I fear they'll shut me down if I don't. Is the US Tax ID Number the same as your Social Security Number?

[Iron Mego]

Are you registered with a Business Account? I'd say it's a good idea if you are.

[megoapesnut]

Yeah, your tax ID number is your social security number. I had to give it up years ago. You will not get any paperwork from them, nor will they report anything to the IRS unless you have 200 transactions totaling over 20K in any given year.

[hedrap]

I went through this. Like Megoape said. Unless you're clearing 20k, it has no bearing.

And if you are clearing 20k, then you best look into being a small business.

[cjefferys]

For awhile I was selling a lot on Amazon so I had to give them my social security number (which is what the IRS considers your tax id number if you are not registered as a business). But my sales didn't come even close to 20K, so the IRS didn't care, Amazon was just covering their butt by following the IRS rules.

[Hedji]

Okay, thanks, that helps a lot. I guess I can safely give them the number. I'm nowhere near 20K, although that would be nice. I just hate giving out the SS# to anybody if I don't have to.

[toys2cool]

yea, save your reciepts ..I had to pay a crap load of taxes the first year I got it