THE NEW PAYPAL EMAIL

artinsilk · Posts: 132

Has anyone received the new Paypal email about our SS number?

This is spooky.

Is there a way around it?

The only info I got is to get a tax ID number, but I read it takes hours to fill out the form to get one.

Does anyone have any experience with this whole issue?

wtcollectibles · Posts: 2728

Your SS# is your tax ID number unless you have set up some higher-level business arrangements, and I don't know exactly what they are. If you are not a corporation and you can file your business taxes on Schedule C, I don't think you need a tax ID other than your SS#. Disclaimer - Of course, your tax accountant or whoever does your taxes is the person to advise you, not me or anybody here unless we have a tax accountant on board! Wink

PayPal is making sure that they have everybody's SS# because of the new 1099 forms that they will be sending out for 2011 income taxes if you meet the requirements for online selling income. I've been reading in other forums about sellers who are nervous because they've been asked for their SS# and don't feel they are anywhere near the minimums. But I don't think it's nefarious, not a phishing email or a scam of any kind. I got the email but I didn't do anything through the email; I logged into PayPal and checked it out there.

Edited to add - Obviously this also applies to Google checkout, as well as any other payment networks out there. PayPal is just the only one I use.

RustyFarmall · Posts: 1300

wtcollectibles · Posts: 2728

The one I got was not a scam, although I can see the potential for scammers and hackers to jump on. Obviously, don't ever click on links in emails (everybody does know that, right?), but if you get the email that I got and go to your PayPal account, you will be prompted to update your account information for your 1099-K.

I'm sure they are working their way down the thousands of PayPal users, making sure they don't miss any of us. I suspect more people will start posting about this as we move through the fall and winter.

MaggietheCatsMeows · Posts: 2853

Forward it to spoof@paypal.com. If it is a scam, you will get a return email from PP saying it is.

I know this SS# thing is in the offing but scammers know it also and will surely take advantage of it in order to get your IDs. I do not ever fill out anything in response to an email request to do so. I go to the site and if there is no info, I don't respond. I'm still a free woman.

wtcollectibles · Posts: 2728

Finally found the article I was looking for. If you are not fan of Ina and AuctionBytes, then you may still want to consider it a scam and feel free.

http://www.auctionbytes.com/cab/abn/y11/m09/i06/s01

MaggietheCatsMeows · Posts: 2853

Rusty, no one is questioning the fact that PP is asking for SS#s, just whether the email Artinsilk got was actually from PP. I don't know how many places she sells from but PP will be considering the sum of all the places, not just what she sells on eCRATER.

wtcollectibles · Posts: 2728

True, and I wasn't trying to insult Rusty or anything. Rusty, please accept my apologies if I did.

We're so conditioned to scams and phishing emails that I'm sure a lot of people will just trash the SS# emails; presumably PayPal will know that, too, and persevere until they connect with everybody. I can't even remember if there was a link in my email or not or exactly the wording. I just went and logged in to my account and the update screen was right there.

artinsilk · Posts: 132

No one insulted anyone... and I read the whole thread.

I did get some clarification, but no alternative solution yet, because perhaps there is not any.

So thank you all.

MaggietheCatsMeows · Posts: 2853

Whoops! WTCollectibles and RustyFarmall, I got you two switched in the meaning of my last post. It's me that should be apologizing and I do.

AAAgiftsWholesale · Posts: 27

You SS# is you tax id number. But if your a business, it benifits you to apply for an EIN number Employer Identification number, AKA Tax id number.

It's simple and does not cost anything and you don't have to give your SS# out.

here's a link to apply for one or your account can do it in 5 mins and you get it right then.

http://www.irs.gov/businesses/small/article/0,,id=102767,00.html

MoonwishesStore · moderator Posts: 17389

I got one of those from PP a while back. Went to PP on my own and filled out what I needed to. They may be hitting up people with a certain amount in sales for the year first, as someone with only $100 in sales isn't going to need that form but someone with lots of higher sales may get in the ballpark and they don't want to scramble at the last minute getting all the info. I believe all companies have to get tax info sent out by the end of January, so for anything tax related that means collecting info has to be done well ahead of time.

I can't remember exactly where on PP you fill in this info--probably your profile. You need to go there and fill it in and then you can ignore the email asking for your SS#. PP doesn't want to collect this info anymore than YOU want to give the info out. Unfortunately Uncle Sam is demanding in the info.

Periwinkles · Posts: 2907

I got one from PayPal but just deleted it. I'm not going to give it to them. I am nowhere near that kind of money. I haven't heard from them again we shall see what happens next. I am not going to provide something I don't have to. They can request it all they want.

thecheapskirt · Posts: 2123

Both my boyfriend and I got the email. Since he uses it for billing high dollar jobs in his business, he has hit that limit already and they restricted his account--can't use the funds until you provide them with the number.

I'm less than halfway there, but since I'm honest and pay taxes on everything I sell, I have no problem providing it so I can get a 1099 if needed. My only concern will be splitting out business activity from personal activity (I use PayPal for a lot of things, not just my business).

TyreeTrading · Posts: 1608

I think they are sending it to everyone who has received any payment.
That would be the easiest way to approach it from their standpoint.