PayPal Wants Tax ID Number - Homesteading Today
Homesteading Today

Go Back   Homesteading Today > General Homesteading Forums > Countryside Families

Countryside Families Melissa's Forum


Reply
 
LinkBack Thread Tools Rate Thread
  #1  
Old 11/18/11, 08:22 AM
 
Join Date: May 2002
Location: Adirondacks
Posts: 6,440
Exclamation PayPal Wants Tax ID Number

Just got an email from PayPal (looks legit) that they want my tax ID number. They need it to send tax statements to me and the IRS if my PayPal transactions exceed $20,000 and 200 in number in one year.

Well, I have never made anywhere near $20,000 from ebay sales in a year! I don't have a tax ID number because I don't have a business. Do I just ignore them?

__________________

"Never stop questioning - curiosity has its own reason for existence." Albert Einstein

"The way to wealth depends on just two words, industry and frugality." Benjamin Franklin

Reply With Quote
  #2  
Old 11/18/11, 08:25 AM
MO_cows's Avatar  
Join Date: Aug 2010
Location: W Mo
Posts: 6,562
Quote:
Originally Posted by Cindy in NY View Post
Just got an email from PayPal (looks legit) that they want my tax ID number. They need it to send tax statements to me and the IRS if my PayPal transactions exceed $20,000 and 200 in number in one year.

Well, I have never made anywhere near $20,000 from ebay sales in a year! I don't have a tax ID number because I don't have a business. Do I just ignore them?
I doubt if it is legit. I have gotten some very convincing and official looking emails supposedly from Paypal but I don't have an account. Probably pfishing.
__________________
It is still best to be honest and truthful; to make the most of what we have; to be happy with the simple pleasures and to be cheerful and have courage when things go wrong.
Laura Ingalls Wilder
Reply With Quote
  #3  
Old 11/18/11, 08:26 AM
 
Join Date: Nov 2007
Location: western New York State
Posts: 2,353

Sounds like a fake to me, too.

__________________
Reply With Quote
  #4  
Old 11/18/11, 08:31 AM
Darren's Avatar  
Join Date: May 2002
Location: Back in the USSR
Posts: 8,964

Your tax ID number is your Social Security number. That would be a real prize for a scammer. IIRC, Congress didn't change the rules requiring online entities like eBay/Paypal to start reporting to the IRS.

Does anyone here know for sure? For now I would say it's bogus.

__________________
Reply With Quote
  #5  
Old 11/18/11, 08:34 AM
 
Join Date: May 2002
Location: Adirondacks
Posts: 6,440

Here's the email I received:


We're asking for your tax ID number due to new IRS rules. Your tax ID
number is one of these:

- Your Social Security number
- Your Individual Tax Identification Number
- Your Employer Identification Number

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 or services
- 200 payments for goods or services

We want to help you continue to sell with PayPal and to avoid any
interruption to your account. It's easy — here's how:

1. Log in to your PayPal account.
2. A message will appear asking you to update your information.
3. Click Provide Now.

If you have multiple PayPal accounts, repeat these steps for each account.

We appreciate your help in complying with these IRS rules. For more
information, see our FAQs on the IRS reporting requirements:
www.paypal.com/irs

Sincerely,
PayPal

----------------------------------------------------------------------
Help Center:
https://www.paypal.com/us/cgi-bin/helpweb?cmd=_help
Security Center:
https://www.paypal.com/us/security

This email was sent by an automated system, so if you reply, nobody will
see it. To get in touch with us, log in to your account and click "Contact
Us" at the bottom of any page.

Copyright © 2011 PayPal, Inc. All rights reserved. PayPal is located at
2211 N. First St., San Jose, CA 95131.

PayPal Email ID PP1572

__________________

"Never stop questioning - curiosity has its own reason for existence." Albert Einstein

"The way to wealth depends on just two words, industry and frugality." Benjamin Franklin

Reply With Quote
  #6  
Old 11/18/11, 08:40 AM
Tommyice's Avatar
Indomitable
 
Join Date: Dec 2010
Location: New Jersey
Posts: 3,848

I would forward to Paypal's customer service to see if it legit. I'm not sure if sending it to spoof@paypal would get you a response on its legitimacy, but you could try there. I never respond to their emails by clicking the links in them. Instead I go my account using my bookmarked link and see if they have the same notification there.

__________________

Leslie

“If you always do what interests you, at least one person is pleased.” --Katherine Hepburn

Reply With Quote
  #7  
Old 11/18/11, 08:44 AM
BarbadosSheep's Avatar
 
Join Date: Jun 2011
Location: South Carolina
Posts: 1,991

Oh man....I think that is legit. That info is listed on paypal's web site. And since the Email tells her to not reply to the message but to go to paypal's web site and log in, I believe it's for real.

__________________
Reply With Quote
  #8  
Old 11/18/11, 08:44 AM
 
Join Date: May 2002
Location: Adirondacks
Posts: 6,440

Just went to the PayPal site. It's legit. There is this bar at the top of the page:


You have not provided a tax ID number. Please update your profile: provide your tax ID number


I guess anyone else with a PayPal account can expect to receive the same email!

__________________

"Never stop questioning - curiosity has its own reason for existence." Albert Einstein

"The way to wealth depends on just two words, industry and frugality." Benjamin Franklin

Reply With Quote
  #9  
Old 11/18/11, 08:46 AM
Banned
 
Join Date: Mar 2010
Posts: 804

Go to this section of Paypal; it deals with security. One thing I learned from Paypal years ago was NEVER click on the link supplied in an e-mail if you're trying to get to the real Paypal, I guess hackers/thieves are very good at making mirror sites.

https://cms.paypal.com/us/cgi-bin/ma...identity_theft

__________________
Reply With Quote
  #10  
Old 11/18/11, 08:47 AM
 
Join Date: Jun 2011
Posts: 77

Forward it to spoof@paypal.com and they will verify the info whether it is true or not.

__________________

“If Jesus had preached the same message that ministers preach today, He would never have been crucified.” - Leonard Ravenhill

Reply With Quote
  #11  
Old 11/18/11, 08:50 AM
PNP Katahdins's Avatar
sheep & antenna farming
 
Join Date: Oct 2008
Location: far SW Wisconsin USA
Posts: 2,606

Paypal says they will address you by your full name, did they do that?

If I get that email, it will be deleted. Thanks for the alert.

Peg

__________________
Reply With Quote
  #12  
Old 11/18/11, 08:54 AM
 
Join Date: Jun 2011
Posts: 77

I cannot find anything remotely like that page on the "real" Paypal site.
It is a mirror site..DO NOT GIVE THEM ANY INFO!!!
Forward that e-mail to spoof@paypal.com before you do anything else!

Direct quote from Paypal Security and Protection page...

"Should I trust that email?

An email from PayPal will: Address you by your first and last names or your business name

An email from PayPal won't: Ask you for sensitive information like your password, bank account, or credit card"

__________________

“If Jesus had preached the same message that ministers preach today, He would never have been crucified.” - Leonard Ravenhill


Last edited by Deep Woods; 11/18/11 at 08:57 AM.
Reply With Quote
  #13  
Old 11/18/11, 08:55 AM
 
Join Date: May 2002
Location: Adirondacks
Posts: 6,440

Everyone please look at post #8. This is from the PayPal site. This is a legit request. I had heard about the $20,000 rule so I guess they are going to enforce it now.

__________________

"Never stop questioning - curiosity has its own reason for existence." Albert Einstein

"The way to wealth depends on just two words, industry and frugality." Benjamin Franklin

Reply With Quote
  #14  
Old 11/18/11, 08:59 AM
Capt Quirk's Avatar  
Join Date: Sep 2011
Location: South Georgia
Posts: 555

I would forward it to the Feds, IRS, and ebay. Or, just call any of the above and verify it.

__________________
Reply With Quote
  #15  
Old 11/18/11, 08:59 AM
 
Join Date: Jun 2011
Posts: 77
Quote:
Originally Posted by Cindy in NY View Post
Everyone please look at post #8. This is from the PayPal site. This is a legit request. I had heard about the $20,000 rule so I guess they are going to enforce it now.
Do not click the link in the e-mail...go to www.paypal.com and login and forward the message to spoof@paypal.com
__________________

“If Jesus had preached the same message that ministers preach today, He would never have been crucified.” - Leonard Ravenhill

Reply With Quote
  #16  
Old 11/18/11, 09:08 AM
 
Join Date: May 2002
Location: Adirondacks
Posts: 6,440

Please READ post #8. I went directly to the PayPal site. I did not go through the link on this email. This request is coming from PayPal! Here is the what the official PayPal website states at the top of the home page:


You have not provided a tax ID number. Please update your profile: provide your tax ID number


This is not a spoof email.

__________________

"Never stop questioning - curiosity has its own reason for existence." Albert Einstein

"The way to wealth depends on just two words, industry and frugality." Benjamin Franklin

Reply With Quote
  #17  
Old 11/18/11, 09:15 AM
 
Join Date: May 2002
Location: PA
Posts: 836

This is legit. IRS mandated new reporting effective 2012 for online sales.
http://www.auctionbytes.com/cab/abu/...03/abu0258/s03

__________________
Reply With Quote
  #18  
Old 11/18/11, 09:18 AM
 
Join Date: May 2002
Location: PA
Posts: 836

Forgot to add. If you don't have a tax ID your social security number is what you use.
Go to PayPal website and then click on profile and then tax id number under account info.
You can choose what you want this reported as meaning tax ID or social security #.

__________________
Reply With Quote
  #19  
Old 11/18/11, 09:41 AM
 
Join Date: Dec 2003
Location: Central Washington
Posts: 1,193

You DO NOT have to give them your social security number! You can get a Federal Tax ID number from the IRS by going to www.irs.gov and filling out a form SS-4. It is free of charge and takes but 10 or 15 minutes if you are filling it out as an individual. Of course this does trigger the IRS that you are operating a "business" but that's it.

__________________

Sometimes money costs too much.

Reply With Quote
  #20  
Old 11/18/11, 09:46 AM
 
Join Date: May 2002
Location: PA
Posts: 836
Quote:
Originally Posted by happycat View Post
You DO NOT have to give them your social security number! You can get a Federal Tax ID number from the IRS by going to www.irs.gov and filling out a form SS-4. It is free of charge and takes but 10 or 15 minutes if you are filling it out as an individual. Of course this does trigger the IRS that you are operating a "business" but that's it.
If you are not filing as a business on taxes you will not get an Federal Id number.
http://www.irs.gov/businesses/small/...=97872,00.html

http://www.irs.gov/businesses/small/...=98350,00.html
__________________
Reply With Quote
Reply



Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 10:20 PM.