01-21-2019 06:56 AM
01-21-2019 07:01 AM
They need the information in case they have to issue a 1099. Some States are requiring 1099s to go to sellers with sales over $600.
01-21-2019 07:13 AM
also, if you have EITHER 200 PP transactions or $20,000 in sales you'll get one...
01-21-2019 07:17 AM
@reli-on-john wrote:After many years with Paypal why is Paypal now demanding my birthday and SSN ?
When you look into it, you will find it is really the IRS that is demanding that PayPal demand your SSN.
PayPal is required by law to report your transaction totals if you exceed certain thresholds. Since they have no idea whether you will reach those thresholds, they collect your SSN well in advance so that they are not left in violation of the law.
01-21-2019 07:23 AM
Actually outside of VT and MA you have to exceed BOTH the 200 transactions and $20k threshold.
01-21-2019 07:30 AM
@*smedley* wrote:also, if you have EITHER 200 PP transactions or $20,000 in sales you'll get one...
The federal requirement is that PayPal must send a 1099-K if you exceed BOTH of those thresholds.
01-21-2019 07:43 AM
@nobody*s_perfect wrote:
@*smedley* wrote:also, if you have EITHER 200 PP transactions or $20,000 in sales you'll get one...
The federal requirement is that PayPal must send a 1099-K if you exceed BOTH of those thresholds.
https://www.paypal.com/us/webapps/mpp/irs6050w
hmm... i had "or" firmly planted in my head... thanks for the correction...
01-21-2019 08:08 AM
@reli-on-john wrote:After many years with Paypal why is Paypal now demanding my birthday and SSN ?
I had to give them mine almost 20 years ago...
01-21-2019 11:47 AM
From the requests I have gotten, PayPal wants much more information than just SSN and birth date - more like the long list of info required to get a "National ID Card" from my state's driver's license bureau!
Why would I wanna scan & send all of those documents over the net, to be held in some database and be open to hacking. Oh sure a bank account number is one thing: D/L, utility bills, renter's agreement/mortgage info, SSN, DOB, mother's maiden name, blah, blah, bah. Last time I had to give all of the info to one person was when I showed up at the NSA in Ft Mede to do a job. There I get it. Processing payments - no.
Why can't PP "verify" me from the fact that the bank accounts linked and the CCs linked have already done said verification process. Why can't I go in somewhere and show ID and get verified? PP needs an affiliate program or process. Way too many people blindly send their info off into cyberspace.
01-21-2019 12:12 PM
I have always had over 300 sales annually and am finally not getting a tax statement from PayPal this year because sales + shipping dropped below $20,000. Ebay is getting difficult lately to make any decent profit.