Paypal Issued 1099-K but cannot split for two EINs
thecheesyname
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Posted on
Jun-08-2020
06:47 PM
I had an LLC with an EIN registered with a Paypal account, but we switched EINs after a quarter because we started a new company. Paypal issued a 1099-k for all income to only one EIN rather than splitting it. I've spoke with them and they replied with " PayPal is obligated by the IRS to report based on the known owner of the account at time of submission. " and they basically said they cannot split it.
Any advice on how to treat this?
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