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Paypal tax ID info needed ?


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#1 Sawdust OFFLINE  

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Posted December 08, 2014 - 11:19 AM

Just to give everyone a heads up I received a so called email from Paypal today asking for my tax Id number or my social.  It followed by telling me this was required for IRS purposes. Two things that bother me is 1. why don't the IRS request this & 2. why Paypal & why not ebay. If the IRS wanted this info now instead of waiting for me to add to my 1040 next month why didn't they contact me. Info from Paypal isn't going to show any income just money transactions for almost anything. SO BEWARE  :cowboy_shooter:


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#2 Auburn David OFFLINE  

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Posted December 08, 2014 - 11:22 AM

Sounds like a scam to me.


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#3 Username OFFLINE  

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Posted December 08, 2014 - 11:24 AM

Do you meet any of these requirements:

 

Starting in 2011, PayPal is required by the IRS to report the sales of goods and services for customers who, in a single year receive:

  • More than $20,000, AND
  • 200 or more payments.

The new IRS 6050W changes apply to all payment providers, including PayPal. This includes payments received after January 1, 2011, with the first reports sent to the IRS in early 2012.

You can find more information and FAQs about the new IRS 6050W requirements on the PayPal IRS 6050W website.


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#4 Username OFFLINE  

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Posted December 08, 2014 - 11:25 AM

You may need to fill out a 1099K.


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#5 NUTNDUN OFFLINE  

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Posted December 08, 2014 - 11:35 AM

The only way I would fill anything out would be on their website itself. I wouldn't be surprised if that email isn't a virus or scam just trying to get your private info.


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#6 Texas Deere and Horse OFFLINE  

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Posted December 08, 2014 - 11:45 AM

The only way I would fill anything out would be on their website itself. I wouldn't be surprised if that email isn't a virus or scam just trying to get your private info.

 

I agree, PayPal always posts a statement saying that if they need anything, they will contact you thru the Email address you used to sign up with. THIS IS A SCAM!!

 

Contact PayPal and give them the info about the contact that you got so they can track it down, I've turned in a few over the years myself and they will be glad you did.


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#7 Username OFFLINE  

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Posted December 08, 2014 - 11:53 AM

It could be a scam but you will need to file a 1099K if you meet certain requirements as I got an email years ago stating the same thing and it was not a scam.You should find a notification banner when you are signed into your PayPal account if it is not a scam.


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#8 Texas Deere and Horse OFFLINE  

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Posted December 08, 2014 - 11:55 AM

It could be a scam but you will need to file a 1099K if you meet certain requirements as I got an email years ago stating the same thing and it was not a scam.You should find a notification banner when you are signed into your PayPal account if it is not a scam.

 

That's true, I forgot about the banner when you sign in.



#9 Bolens 1000 ONLINE  

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Posted December 08, 2014 - 12:19 PM

 

Do you meet any of these requirements:

 

Starting in 2011, PayPal is required by the IRS to report the sales of goods and services for customers who, in a single year receive:

  • More than $20,000, AND
  • 200 or more payments.

The new IRS 6050W changes apply to all payment providers, including PayPal. This includes payments received after January 1, 2011, with the first reports sent to the IRS in early 2012.

You can find more information and FAQs about the new IRS 6050W requirements on the PayPal IRS 6050W website.

 

 

 

:ditto:

 

I had to do this when I created my ebay account for business.

If anyone is not aware, ebay and paypal are now linked together since ebay bought paypal.

 

Anything over 200 transactions in a year or 20,000 gross sales (Shipping included) is viewed as a business and needs to be reported.

 

I know when I got the response it was when I was on paypal and not given in an e-mail.


Edited by Bolens 1000, December 08, 2014 - 12:36 PM.


#10 aevansgatech OFFLINE  

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Posted December 08, 2014 - 12:33 PM

As others have said, do not respond or provide anything! It is a known scam.

 

Your story sounds like a variation on the theme, but my coworker has also been receiving calls from "the IRS" saying he owed thousands of dollars and he needs to pay using Paypal.

 

He asked them to verify some basic info about him and of course they had no clue


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#11 OldBuzzard ONLINE  

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Posted December 08, 2014 - 02:39 PM

One thing that I've noticed about REAL emails from PayPal is that they always use my NAME.

 

NONE of the 'scam emails' do that.  They always use "Dead Customer" or something similar.


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#12 olcowhand ONLINE  

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Posted December 08, 2014 - 04:12 PM

One thing that I've noticed about REAL emails from PayPal is that they always use my NAME.

 

NONE of the 'scam emails' do that.  They always use "Dead Customer" or something similar.

 

I assume you meant "Dear"  ....... :rolling:


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#13 cootertom ONLINE  

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Posted December 08, 2014 - 05:09 PM

SCAM, don't do it. I use PayPal a lot and never received this. :shoot2:


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#14 KC9KAS OFFLINE  

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Posted December 08, 2014 - 05:48 PM

The IRS already has your social security number and tax number (if you have one).

DO NOT REPLY.


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#15 Username OFFLINE  

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Posted December 08, 2014 - 06:15 PM

The IRS already has your social security number and tax number (if you have one).

DO NOT REPLY.

But PayPal does not.

 

Signing into PayPal by accessing it from the internet will show if it is a scam or not.






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