Weird prompt to "update" my tax i.d. number, which they already HAVE

[gurlcat]

Last night when I logged in to print a label for an item that my phone said had just sold, I had an alert banner across the top of my home page, stating that I must provide my tax i.d. or SSN, for the purpose of 1099 IRS reporting. 
Okay, now I was in the March 2021 batch of sellers forced onto MP, I knew it was coming so I had gotten a stupid BAM bank account, and didn't hesitate to provide the account number and my SSN, then go along with the bank account verification process, to get onboarded as quickly as possible to resume getting my money as quickly as possible.  Then over a month later, after totally smooth sailing with regard to payments, I was inexplicably required to do the account verification all over again, which put my payments on hold for several days again, for no apparent reason.  
When I typed in my SSN  AGAIN last night, the resulting window thanked me and said it may take up to 2 days to verify it, before my payments will resume depositing.  Now, since it's the weekend I would already be waiting until at least Monday for my next (daily) payment, but I have a bill I really need to pay on Monday, so I'm going to be P.O.'d if I can't because of this fresh hot rubbish. 
 I recently heard a discussion on some video about people being ignorantly upset about income over $600 being reported to the IRS, because they thought it meant their Covid relief checks would get taxed.  But I knew that there was (at least) reason why the $600 figure has some significance, because it's the minimal amount of (annual) income, of any kind, that is supposed to be reported to the IRS.  The reason that number is mayyyyyybe relevant is that the item I sold yesterday was $675.  It's not the only item over 600 that I've sold this year; I remember another for over 1000, but it was so far back I can't recall if it was before or after my March onboarding to MP.  
ANYWAY,  regardless of whether this sale had anything to do with it, why on Earth would Ebay require a seller to give their tax i.d./SSN on a random night in November, hamstring their payments and all, when they already HAVE it, and it's about the most unchangeable number that can ever be affiliated with an American citizen's name, so it's not like I might have a different one now. 
Anybody else ever get this, or know why? 

[pennpicker]

Have not been asked for the same.  Any chance it was triggered by a cumulative total, either by number of sales or dollar threshold?

[coastaltechsolution]

It is not unheard of being in MP for some time and then being asked again to verify, who knows why but as long as you verify to not have interruptions in selling

As far as 2022 1099 it's coming so why worry about it? 

It will be for all sellers who meet the criteria 

[mam98031]

It is not unusual at all.  If what you have sold on Ebay since you have been in MP in 2021 is getting close to or has exceeded the current threshold for 1099Ks for your state or for IRS, then they need your entire SSN.  If you choose not to supply it, they will just freeze your money.

You will be upset on Monday as it is highly unlikely your deposits will resume then.  It is more than likely they need 2-5 business days to verify the new information.  While there may be employees at Ebay to work on this, there isn't in the government offices that they need to verify the information through.

There are MANY people that are completely confused and passing INCORRECT information around about what some in Congress are trying to do with the banking system and having them to give IRS info on any and all transactions over $600, the current threshold is $10,000.  This bill has ABSOLUTELY NOTHING to do with 1099Ks.  Not a thing.  It is a completely SEPARATE subject.

Starting in 2022 if you have sales of $600 or more on the internet you will be getting a 1099K from whomever your money processor is.  These will be the 1099Ks you receive in 2023 for your 2022 tax reports.

[mam98031]

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@pennpicker wrote:

Have not been asked for the same.  Any chance it was triggered by a cumulative total, either by number of sales or dollar threshold?

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@pennpicker 

It has ALWAYS been a "cumulative total".  The current threshold is $20,000 and/or 200 transactions.  That doesn't mean you have one transaction of 20K before you are subject to a 1099K.

If you are getting close to that threshold for the IRS with your 2021 sales, then Ebay needs your full SSN so they can do their proper reporting in January.  

[gurlcat]

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@coastaltechsolution wrote:

It is not unheard of being in MP for some time and then being asked again to verify, who knows why but as long as you verify to not have interruptions in selling

As far as 2022 1099 it's coming so why worry about it? 

It will be for all sellers who meet the criteria 

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What makes you think I'm worried about it?  That's not at all the issue.  

[gurlcat]

I supplied my full SSN when I did my MP onboarding so it is not "new information" for them to verify.  I surpassed $20k in 2021 sales months ago (yes, even if only 'net sales' was used for the threshold) and my current item sales count is 524 so I obviously surpassed the 200 way back also. 
  So ...................... ???

[femmefan1946]

A passing thought from a position of almost total ignorance*, I've been hoping that Managed Payments and its many and varied hoops might possibly in an unplanned way be acting to make it harder for scammers to open and/or hijack accounts.

Because with Paypal, the more libertarian designers didn't seem to worry about that, and it has been notoriously easy for a shut down scammer to pop up with a new credit card- even one that has been stolen.

I may be being optimistic about this.

I am firmly convinced if this does turn out to be the case, it won't have been done on purpose.

*Which doesn't seem to bother other posters.

[redmodelt]

RE "Covid relief checks would get taxed." In the state of Oregon, I had to report mine as income for the state.

[mam98031]

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@gurlcat wrote:

I supplied my full SSN when I did my MP onboarding so it is not "new information" for them to verify.  I surpassed $20k in 2021 sales months ago (yes, even if only 'net sales' was used for the threshold) and my current item sales count is 524 so I obviously surpassed the 200 way back also. 
  So ...................... ???

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They have no way of knowing what your Net Sales are.  They only know what your Gross Receipts are and some of your expenses.  

[mam98031]

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@femmefan1946 wrote:

A passing thought from a position of almost total ignorance*, I've been hoping that Managed Payments and its many and varied hoops might possibly in an unplanned way be acting to make it harder for scammers to open and/or hijack accounts.

Because with Paypal, the more libertarian designers didn't seem to worry about that, and it has been notoriously easy for a shut down scammer to pop up with a new credit card- even one that has been stolen.

I may be being optimistic about this.

I am firmly convinced if this does turn out to be the case, it won't have been done on purpose.

*Which doesn't seem to bother other posters.

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I agree with you, but it is more by design than and unplanned side effect.  It simply is a logical result.  

The laws for money processors now are much stricter than they were when many of us signed up with PayPal.  So lots of sellers aren't use to having to give all this information.  Now because of the Federal banking laws that money processors have to comply with, along with Anti Money Laundering laws, there is a verification process that has to happen.  It is called CIP or CHIP [customer identification program].

https://www.fdic.gov/regulations/laws/rules/8000-1600.html#fdic8000fra1020.220

[hurryagain]

@mam98031 

Very informative link.  What did you do in your previous life? 

I am so curious b/c of all of the heavy reading that you seem to like to do.  Whenever I have a technical question regarding MP I like to look up your posts b/c it is so informative.

Of course you do not need to answer my question...I am just so darned curious!  😲

[mam98031]

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@hurryagain wrote:

@mam98031 

Very informative link.  What did you do in your previous life? 

I am so curious b/c of all of the heavy reading that you seem to like to do.  Whenever I have a technical question regarding MP I like to look up your posts b/c it is so informative.

Of course you do not need to answer my question...I am just so darned curious!  😲

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You are always so generous.  I don't talk about my background on the threads.  There is no big secret about it, it is just that I have no desire for it to seem like bragging or give anyone the impression that I think I'm better than anyone else, because nothing could be further from the truth.  

@hurryagain 

[hurryagain]

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@mam98031 wrote:

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@hurryagain wrote:

@mam98031 

Very informative link.  What did you do in your previous life? 

I am so curious b/c of all of the heavy reading that you seem to like to do.  Whenever I have a technical question regarding MP I like to look up your posts b/c it is so informative.

Of course you do not need to answer my question...I am just so darned curious!  😲

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You are always so generous.  I don't talk about my background on the threads.  There is no big secret about it, it is just that I have no desire for it to seem like bragging or give anyone the impression that I think I'm better than anyone else, because nothing could be further from the truth.  

@hurryagain 

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Welp...I am happy to have you around to dig up all of the technical heavy reading stuff and then translate it for the rest of us.

...I am just a numbers person...

@mam98031 

[mam98031]

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@hurryagain wrote:

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@mam98031 wrote:

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@hurryagain wrote:

@mam98031 

Very informative link.  What did you do in your previous life? 

I am so curious b/c of all of the heavy reading that you seem to like to do.  Whenever I have a technical question regarding MP I like to look up your posts b/c it is so informative.

Of course you do not need to answer my question...I am just so darned curious!  😲

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You are always so generous.  I don't talk about my background on the threads.  There is no big secret about it, it is just that I have no desire for it to seem like bragging or give anyone the impression that I think I'm better than anyone else, because nothing could be further from the truth.  

@hurryagain 

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Welp...I am happy to have you around to dig up all of the technical heavy reading stuff and then translate it for the rest of us.

...I am just a numbers person...

@mam98031 

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I am too.  That is part of my background.