Paypal wants a pic of my SS or Tax documents?

[Longshot18]

In the past, Ill call it a month, I can use paypal but only to transfer money to someone or to my bank.

I can no longer use paypal balance to pay someone.

It's a pain in the butt because now I have to account for things in my check register with all the debits from my bank account.

They have some link now, to accept money and use it directly through paypal. But to do so I have to provide both a copy of some legal ID (Drivers license, passport, etc) and a copy of my SS # from a copy of SS card or tax statement.

This seems VERY risky to me.

What are others doing and/or your thoughts on this?

[Chick Hearn]

Have you checked your settings so that "PayPal Balance" is your preferred method of payment?

[iluvfish2]

Been this way for several years. My guess is you've finally started hitting either a transaction number or the balances at which point they're required to have that info as its turned over to the IRS.

[ClipsandVols]

Originally Posted by iluvfish2

Been this way for several years. My guess is you've finally started hitting either a transaction number or the balances at which point they're required to have that info as its turned over to the IRS.

This.

OP, you'll just have to give em what they want.

[Longshot18]

Originally Posted by Chick Hearn

Have you checked your settings so that "PayPal Balance" is your preferred method of payment?

It wont give me that option anymore.

[Longshot18]

Originally Posted by ClipsandVols

This.

OP, you'll just have to give em what they want.

Grrrr. IRS strikes again. Soon they will be taxing the money I win playing monopoly with the kids.....

[jaluncefo]

Settings
Payments & Transfers
Preferred way to pay


Sent from my iPhone using Tapatalk

[ClipsandVols]

Originally Posted by Longshot18

Grrrr. IRS strikes again. Soon they will be taxing the money I win playing monopoly with the kids.....

That gives me an idea. When my little girl gets older, I'll use monopoly to teach her about taxes. "You passed go, Here's $200. But I'm going to need $36 rightttttt now."

[Longshot18]

Originally Posted by ClipsandVols

That gives me an idea. When my little girl gets older, I'll use monopoly to teach her about taxes. "You passed go, Here's $200. But I'm going to need $36 rightttttt now."

$36? Only taking 18%. This is monopoly after all. High wage earners get nearly double that! take $70, use it to build the monopoly road, but then put a big pot hole in the middle of Indiana Avenue that slows her down...then tell her that when she collects money from you for landing on Park Place she will be taxed 10% to fix the pot hole.

[ClipsandVols]

Originally Posted by Longshot18

$36? Only taking 18%. This is monopoly after all. High wage earners get nearly double that! take $70, use it to build the monopoly road, but then put a big pot hole in the middle of Indiana Avenue that slows her down...then tell her that when she collects money from you for landing on Park Place she will be taxed 10% to fix the pot hole.

HAHAHA... Then I'll make her pay $20 for each property she owns as a "campaign contribution." and turn around and build some hotels!

[Longshot18]

Originally Posted by ClipsandVols

HAHAHA... Then I'll make her pay $20 for each property she owns as a "campaign contribution." and turn around and build some hotels!

That only ends up being a real life example if the hotels then go bankrupt, someone else is stuck with paying them off, she insults everyone at the table for being incompetent and blaming them for her hotels going bankrupt, and then the rest of the people at the table elect her to be banker because clearly she knows what she's doing.....

[ninjacookies]

Originally Posted by Longshot18

In the past, Ill call it a month, I can use paypal but only to transfer money to someone or to my bank.

I can no longer use paypal balance to pay someone.

It's a pain in the butt because now I have to account for things in my check register with all the debits from my bank account.

They have some link now, to accept money and use it directly through paypal. But to do so I have to provide both a copy of some legal ID (Drivers license, passport, etc) and a copy of my SS # from a copy of SS card or tax statement.

This seems VERY risky to me.

What are others doing and/or your thoughts on this?

Paypal is cracking down hard on tax evasion and fake accounts.

This is becoming mandatory for any account doing 200 transactions or $20k in transactions a year (or on pace to be).

No way around it. You don't send in matching documents that they ask for and they'll freeze your funds for 180days, ban you from paypal permanently, and you most likely won't be able to withdraw it after that period.

[ClipsandVols]

Originally Posted by Longshot18

That only ends up being a real life example if the hotels then go bankrupt, someone else is stuck with paying them off, she insults everyone at the table for being incompetent and blaming them for her hotels going bankrupt, and then the rest of the people at the table elect her to be banker because clearly she knows what she's doing.....

[stepsahead7]

Originally Posted by ninjacookies

Paypal is cracking down hard on tax evasion and fake accounts.

This is becoming mandatory for any account doing 200 transactions or $20k in transactions a year (or on pace to be).

No way around it. You don't send in matching documents that they ask for and they'll freeze your funds for 180days, ban you from paypal permanently, and you most likely won't be able to withdraw it after that period.

Fake accounts ??? what are you talking about??? an account either exists or it don't.......freeze your funds???....is paypal the IRS now.......your not making any sense.

[stepsahead7]

Originally Posted by Longshot18

In the past, Ill call it a month, I can use paypal but only to transfer money to someone or to my bank.

I can no longer use paypal balance to pay someone.

It's a pain in the butt because now I have to account for things in my check register with all the debits from my bank account.

They have some link now, to accept money and use it directly through paypal. But to do so I have to provide both a copy of some legal ID (Drivers license, passport, etc) and a copy of my SS # from a copy of SS card or tax statement.

This seems VERY risky to me.

What are others doing and/or your thoughts on this?

Close your account and open up another new one......don't send them nothing !!!

[LC2nine10]

Originally Posted by stepsahead7

Close your account and open up another new one......don't send them nothing !!!

Seems shady on ever level.
Also a double negative, so maybe it is ohk advice?

[abidtsteele]

Hilarious stuff in here. Blame the IRS for doing its job, not the congress that passed the laws the IRS enforces.

If you have not been paying taxes on paypal on your own that is tax evasion. Talking about it on a message board is an easy way for the office of the cheif council to get ammo against you.

PayPal can 100% freeze your funds. They are acting as custodian and you are breaking the tos you agreed to. As long as they keep your funds separate and dont touch them they are in the bounds of the law.

[Longshot18]

Originally Posted by abidtsteele

Hilarious stuff in here. Blame the IRS for doing its job, not the congress that passed the laws the IRS enforces.

If you have not been paying taxes on paypal on your own that is tax evasion. Talking about it on a message board is an easy way for the office of the cheif council to get ammo against you.

PayPal can 100% freeze your funds. They are acting as custodian and you are breaking the tos you agreed to. As long as they keep your funds separate and dont touch them they are in the bounds of the law.

Not sure, but could be your comments are in reference to my comment about IRS coming after funds. If, when it's followed by a monopoly comment, the sarcasm was already not obvious, let me make it clear- my comment was sarcastic.

My goal of the original post was not to scam or blame anyone, but to find information out and just make sure it was a normal paypal process that I was not aware of.

[stepsahead7]

Originally Posted by abidtsteele

Hilarious stuff in here. Blame the IRS for doing its job, not the congress that passed the laws the IRS enforces.

If you have not been paying taxes on paypal on your own that is tax evasion. Talking about it on a message board is an easy way for the office of the cheif council to get ammo against you.

PayPal can 100% freeze your funds. They are acting as custodian and you are breaking the tos you agreed to. As long as they keep your funds separate and dont touch them they are in the bounds of the law.

Custodian to what ??? Paypal has NO legal right to freeze anybody's funds....they are a payment facilitator, they are not EBAY or AMAZON. I personally don't care because I don't do 200 transactions or whatever, but that's like saying my credit card company can freeze my credit access because of the IRS.

[glen87]

Originally Posted by stepsahead7

Custodian to what ??? Paypal has NO legal right to freeze anybody's funds....they are a payment facilitator, they are not EBAY or AMAZON. I personally don't care because I don't do 200 transactions or whatever, but that's like saying my credit card company can freeze my credit access because of the IRS.

doesn't matter how many transactions you do.

even if you do 1 transaction a year for $1, you are supposed to report it and pay taxes on it.


the transaction number is only for PP to send you a 1099. if you pass the limit, they will send you one, if you do not pass the limit you do not get one. does not mean you do not have to report it though.

[ninjacookies]

Originally Posted by stepsahead7

Fake accounts ??? what are you talking about??? an account either exists or it don't.......freeze your funds???....is paypal the IRS now.......your not making any sense.

It's called a stealth account. Google is your friend.

Now take a deep breath and calm down, champ.

You seem really amped up and paranoid about something you have little understanding of.

Nobody is putting listening devices in your cheese.

Unless you're trimming cards, tax evading, or doing something you shouldn't...



Oh and welcome to blowout since you seem 'new' and not suspicious. God Bless.

[daxwills]

Originally Posted by ninjacookies

Paypal is cracking down hard on tax evasion and fake accounts.

This is becoming mandatory for any account doing 200 transactions or $20k in transactions a year (or on pace to be).

No way around it. You don't send in matching documents that they ask for and they'll freeze your funds for 180days, ban you from paypal permanently, and you most likely won't be able to withdraw it after that period.

It's 200 selling transactions right? Like I rarely sell anything but I buy a lot of crap using paypal.

[ninjacookies]

Originally Posted by daxwills

It's 200 selling transactions right? Like I rarely sell anything but I buy a lot of crap using paypal.

Indeed, just for selling, not for buying.

[daxwills]

Originally Posted by ninjacookies

Indeed, just for selling, not for buying.

Cool thank you.

[glen87]

even under the transaction / dollar threshold, states can request info from PP. so you still should be reporting, even if you are under the threshold.