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? asked in Business & FinancePersonal Finance · 5 years ago

PayPal is asking me for my Tax ID? What do I do?

I'm underage, using Paypal. Which I know it's a bad idea because Paypal will eventually find out I lied about my age. Anyway, I'm an eBay seller and I've made almost 200 sales. PayPal asked me today to add my Tax ID or SSN, which I can't do. I used to have a different PayPal account which was limited because when I gave them my SSN, they found out I was underage. These are exact words from PayPal:

We'll use your tax ID number to send tax Form 1099-K to you and the IRS when the payments you receive exceed both of these milestones in a calendar year: $20,000 in gross payment volume for goods and services

200 payments

Providing your tax ID number now will help you continue to sell with PayPal and avoid any interruption to your account. Please provide your tax ID number today.

It says if I exceed BOTH $20k in gross payment and 200 payments. So even though I almost made 200 sales, am I still safe because I have not made anywhere near $20k? I don't want my account being limited again, and I have a lot of money in my PayPal account and I'm scared I will lose it if PayPal limits my account in the next couple of days. Please help!

2 Answers

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  • 5 years ago

    With my experience with PayPal, they can hold funds but it is always my money.

    I am not sure if I understood exactly your situation but either way, it is your money.

    I am not familiar with any "terms" of PayPal's in regards to being "underage".

    I would contact PayPal and inform them of your correct information before you run into any other problems like this in the future.

    Sometimes when one needs their money now, they need it now. So I feel you should do that just so that you do have access to the money which is yours.

    If PayPal knows that you are "underage" and has terms about that in regards to when you can cash out and deposit your funds to your own bank, then I am not sure but if that is so, then you may as well just give them your correct information and wait it out.

    I am pretty sure you do not require any tax ID though to use paypal.

    You should just be required to submit your social security number and that is all.

    EDIT: I just read that eBay does not allow underage sellers.

    BOGUS. This is why the rest of your entire life should be realized as "ridiculous" so long as you wish to live among humans on THEIR Earth.

    Remember.. it's not yours nor ours, else we would be doing greater things than trying to sell on eBay and using PayPal or even talking about them.

    Good luck with the future of bubble wrap and envelopes and tape and labels and screens and ebay cases and usps claims and driving and scheduling and excelling and cataloging and picturing and listing and deductibles and tax payments and debt and dirty money and problems.

    Food, water and shelter with warmth, dry and cool.

    Peace, happiness and what else in life on Earth?

    See you on the other side.

    Source(s): www.thelackof.com
  • Anonymous
    5 years ago

    the best thing for you to do with not only PP but any site you are using to sell items ( illegally due to your age !! ) is to be honest and tell PP that you are a minor and did not know the rules....that's all you can do

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