I need my IRS reportings filed under an EIN instead of Linked SSN #

jt_engines
Contributor
Contributor

I WILL go over 20k in transancations next year and have more than 200 total.  I do pay all my taxes but the problem is I have a partner in my business.  I do not mind at all that this income is reported to the IRS however I need to make 100% sure it's reported under our EIN and not my SSN#   I see no where I can take care of this issue or how to contact anyone for support.

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6 REPLIES 6

GCD
Contributor
Contributor

I am in the process of doing this myself.

You will have to open a new account as paypal will not remove your SSN.

That brings about a lot of complications, Email address, bank, credit card and address verification not to mention your email. I had to set up a second email account, so I wouldn't have to edit my remit to email address on all of  my 146 listings.(no bulk editing). Add second email to existing account as primary, then delete your current email address so you can use this one for the new account.  Set up new account with Company name EIN etc. all of your payments are now going to the new account. Now to close the other account, transfer all monies and wait for all transactions to clear, ( a few days). Now you can close the old account. Now you can add your SSN to the new account along with your credit card to raise your withdrawal limits. This should do it.

Hope this helps,

Greg

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jt_engines
Contributor
Contributor

Even if I start a new account I see no where to enter EIN information?  I've heard rumors that when you get close to meeting your 20k threshold that they will e-mail you and ask for your TIN or EIN information to use instead of reporting it under your social?

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GCD
Contributor
Contributor

You have to open a business acct.

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jt_engines
Contributor
Contributor

Did that today, I still don't see where it asks for it?

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tonyrg
New Community Member

After setting up a new account as a business account I had to call support and have them downgrade my account.

Then click upgrade,

choose business and

then when entering the business info I could enter the EIN

 

Note you can only downgrade an account once.

 

I was also told you could enter the EIN when you

Enroll in the PayPal Money Market Fund

 

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WesleyDodd
Contributor
Contributor

This is absolutely **bleep** ridiculous. I have over 4000 items on eBay. Now I am forced to incorporate by the worst leader in our nations history. So now I have to update all 4000 of my listings with a new email account because Paypal is too **bleep** lazy to help us out? Paypal has made billions off of us sellers. How hard is it for them to allow us to put in and EIN to report all the income to?

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