I've had a merchant account since 2009. Never had a problem with anything except about every two to three years I get an account alert stating "The combination of your name and Tax ID Number does not match IRS records"
I've gone through the process of filling out a W-9, scanning, and uploading it to resolve the issue. I've done this twice now, and now am being asked to do it a third time.
I have an LLC with an EIN. My name is on the account as the account owner. On my Paypal account, under business profile / business information the name of the LLC is listed. The EIN is correct on the account. None of this has ever changed since the account was established in 2009. The business name has never changed since its inception and it matches the EIN.
When I look at my past 1099-K pdf files on the Paypal website, they all have my LLC's EIN on them, but they have my name as the payee, not the business name. So I guess the IRS has a point: the name on the 1099-K doesn't match the LLC name for the EIN on the 1099-K.
I feel like I must be missing something here, or there is a problem on the Paypal side with how they generate the 1099-K. I don't want to have to keep scanning and uploading the same W-9 every few years as I have been. It doesn't seem to really fix the problem.
