PayPal Sales & SSN Requirement

1970FuryConv

Senior Member
Joined
Aug 8, 2014
Messages
3,692
Reaction score
3,830
Location
Richmond, VA
PayPal is requesting my Social Security number so that I can continue to receive payments for goods sold. My situation is that I rarely sell more than $1000 a year, and usually substantially less. As far as what I do sell, there’s no business profit of any kind. My initial reaction is that PayPal is making a needless invasion of my privacy, regardless of any IRS justification it claims, by wanting my Social Security number after being able to operate without it for many years.

· Are you providing your Social Security number to PayPal?

· If not, how are you going to accept future payments for parts sales to help other C – body people?

Thanks for your advice on personal privacy, Ben
 

69CoronetRT

Senior Member
Joined
Feb 3, 2013
Messages
2,371
Reaction score
3,117
Location
Iowa
If you support an individual business to operate as they see fit.....Their site their rules.

If you choose to not operate by their rules, you may need to find another way to accept payments.

We already offer our own personal info including SSI numbers other places, I don't have a problem with one more.
 

Outsider

Member
Joined
Jan 11, 2021
Messages
70
Reaction score
17
Location
Northwest
I used to sell mostly collector postage stamps and a few car parts on ebay. I believe what you described is current state for ebay, and that they want your SSN when Paypal is used on their site. I think they want too much info and really want you to use their newer payment system and not PP. However, I have continued to use PP for purchases on ebay, and a few sales and purchase on the Mopar sites without requiring the additional personal info.
 

SPF Required

Well-Known Member
Joined
Jun 24, 2017
Messages
527
Reaction score
713
Location
California.
Venmo is becoming my new favorite way to send dough between friends. I am not a seller of stuff so I don’t know if that’ll work for you but it is super easy
 

Old Mike

Well-Known Member
Joined
Nov 24, 2018
Messages
707
Reaction score
1,503
Location
Overbythere
Definitely sounds phishy to me as well. Send to paypal.
I agree. Something doesn’t sound right. I periodically get emails telling me there’s a problem with my PayPal account. I already know what the problem is. I don’t have a PayPal account.
 

polara66hardtop

Senior Member
Joined
Jan 6, 2014
Messages
1,398
Reaction score
648
Location
Omaha nebraska
I agree, no SSN to Paypal. I have been affiliated with ebay and paypal for many years,but I am done with them. Now they want to give you a 1099 over 600 bucks? . Your SSN is one number you don't want them to have if possible.You put that with your bank account number and credit card number and birthday, then there is nothing else to give them.
What you do with your money should be nobodys business. even Manchin said the Govt has no business in your bank accounts.and Paypal and Ebay are sleeping with the FED.I advertise on private sites, and sell or buy with money orders or direct transfers only. I recommend people stand up now, because if you don't there will be nothing left to stand on.
 

azblackhemi

Old Man with a Hat
Joined
Nov 13, 2010
Messages
7,180
Reaction score
9,449
Location
Waddell AZ
Venmo is becoming my new favorite way to send dough between friends. I am not a seller of stuff so I don’t know if that’ll work for you but it is super easy
I just googled Venmo because people keep wanting to use it to pay me. It's owned by Pay Pal it says.
 

Big_John

Illegitimi non carborundum
FCBO Gold Member
Joined
May 21, 2013
Messages
15,623
Reaction score
20,863
Location
Marcellus, NY
My wife uses Venmo all the time... It's good for her to pass money between her mother (she shops for her etc.) and other family members. She pays the dog groomer that comes to the house too.

It all sounds good, but you HAVE to be careful of privacy settings. It does some things with picking up "friends" and "contacts" through other sources and (as I understand it) if you don't set the privacy correctly, some "friends" on Venmo can see what you've paid for or been paid.

For example: My son's ex-wife does some babysitting. She's one of those "post everything on social media" people (which drove my son nuts, but that's over). My wife told me that she can see that she was paid for babysitting by looking at her Venmo. BTW, this is hopefully going to bite her pretty hard in her fat ass come tax time... Karma is a bitch, but I digress.

So, I haven't signed on for Venmo. My wife insists that it's private if done right, but I haven't had a reason to use it.

To @1970FuryConv , my take would be that you need to go through the settings on PayPal and not click any links in an email, even if it does seem legit. I just looked in our PayPal account though and yep, there it is.. my wife's SSN.
 

1970FuryConv

Senior Member
Joined
Aug 8, 2014
Messages
3,692
Reaction score
3,830
Location
Richmond, VA
Thanks for all the input. PayPal is asking for my SSN on their website, or threatening to limit me to Buy transactions only. My SSN is none of their business and it is none of ebay's business. I don't sell much. It's a lot of work to sell. Not a big loss if I recycle instead. Too bad they put invading my privacy above me helping someone with parts every now and then.
 

68PK21 440.6bbl

Old Man with a Hat
Joined
Nov 29, 2017
Messages
7,562
Reaction score
6,861
Location
Siren City
Yea but the trouble is there are a lot of people using eekBay as the only source of income and probably not paying income taxes or their fair share, I mean the mega sellers and middle men resellers. I just got a item off eekBay and it arrived in a large Amazon box <smh> and I already suspected the seller was just a middleman reseller via some of the feedback comments and as I've seen the get rich money making pitchmen on uTube pitching their 'I'll make you rich' schemes. eh.. so I paid $2.00 more to not give/upgrade my Amazon account to the free 30 day Prime for the free shipping only to have to go through the inconvenience of cancelling or getting sucked into their monthly fee.

What get's me now is the charging of sales tax all across the board on eekBay as most of what I buy are used items and the old rule is/was that the sales tax has already been paid on a *new* item and a resale of used items was exempt as the sales tax has already been paid.
But then it gets complicated with large sellers buying salvage lots of new or returned items, but this comes across as double taxation and I guess it is too hard or complicated to figure out. Same goes for alcohol sales, via the Howie Carr show years back up in Massachusetts there was a big fight over a bill introducing sales tax on all alcohol sales, but it's like most of the cost of buying alcohol is state and federal taxes so putting a tax on a tax is double taxation right? I think the bill finally got squashed. I'don'kno I haven't bought any retail alcohol in over a decade but I'll guarantee the last time I did sales tax was on the receipt here in Florida. How about your state? Same goes for our local Flea Market, decades ago use to be people selling used junk but then retail sellers moved in with new items, they even built buildings, some are air conditioned too, then the state came in and seized money(?) issued warnings(?) for everyone to collect and pay up the sales tax.
<rant over>

.
 

ayilar

Senior Member
FCBO Gold Member
Joined
Jan 30, 2012
Messages
4,892
Reaction score
6,907
Location
USA
The change was in the newspapers a couple of weeks ago. It is related to tax collection (more precisely, reducing opportunities for tax dodging):

New U.S. Tax Reporting Requirements: Your Questions Answered

Q: What information do I have to provide to PayPal and Venmo? What do I have to do to ensure I remain compliant?
In the coming months, we may ask you to provide tax information like your Employer Identification Number (EIN), Individual Tax ID Number (ITIN) or Social Security Number (SSN), if you haven’t provided it to us already. For background, generally businesses use an EIN, while sole proprietors and individuals will use an ITIN or Social Security Number.
 

1970FuryConv

Senior Member
Joined
Aug 8, 2014
Messages
3,692
Reaction score
3,830
Location
Richmond, VA
I sold a 1971 340 oem intake manifold on FABO. I sold for $150 plus shipping. About what I had in it, including machine shop clean out. I don't want to retain documents to prove to the IRS that I made no profit on this intake. This year, I've probably done less than $300 total PayPal sales. It's ridiculous privacy violation to force someone who sells so little to provide their SSN. It would cost the IRS more in time to analyze my sales than the $0 they would receive when they figured out I don't make any money on selling.

I am not a person who takes in $5000/month in PayPal transactions. They should provide FEIN or SSN.
 

ayilar

Senior Member
FCBO Gold Member
Joined
Jan 30, 2012
Messages
4,892
Reaction score
6,907
Location
USA
I sold a 1971 340 oem intake manifold on FABO. I sold for $150 plus shipping. About what I had in it, including machine shop clean out. I don't want to retain documents to prove to the IRS that I made no profit on this intake. This year, I've probably done less than $300 total PayPal sales. It's ridiculous privacy violation to force someone who sells so little to provide their SSN. It would cost the IRS more in time to analyze my sales than the $0 they would receive when they figured out I don't make any money on selling.

I am not a person who takes in $5000/month in PayPal transactions. They should provide FEIN or SSN.
The cutoff is $600, if I remember correctly. So you’re good.
 

1970FuryConv

Senior Member
Joined
Aug 8, 2014
Messages
3,692
Reaction score
3,830
Location
Richmond, VA
BTW: PayPal customer service is in India/Middle East. I tried to call them twice. The 1st lady said yes alot, but I don't think she spoke English. She said she would help and did nothing. The 2nd lady kept asking for the original phone number or email connected to the acct. I do not know either. She had no way to find the account or help. Absolutely the worst customer service I've ever experienced.
 

marty mopar

Senior Member
Joined
Nov 12, 2010
Messages
1,675
Reaction score
1,203
Location
Tempe AZ (hotter than a turd on a frypan)
I run a shitload through my business and mostly use Paypal.

All of that shows up on my taxes. No problem as I keep track of all my sales anyway as I do NOT need
to feel the heat on my butt of the IRS wondering where all that $ went/goes.

Just hate that they charge me for taking $ via Paypal. Back in the day when all I got was checks or money orders
I didn't have to cough up that fee. That was eons ago.
 

1970FuryConv

Senior Member
Joined
Aug 8, 2014
Messages
3,692
Reaction score
3,830
Location
Richmond, VA
I run a shitload through my business and mostly use Paypal. All of that shows up on my taxes. No problem as I keep track of all my sales anyway as I do NOT need to feel the heat on my butt of the IRS wondering where all that $ went/goes.
That's why our situations are completely different. I have no business and run very little through PayPal.
 
Top