Do you pay taxes with Paypal in the EU? Did you get this email?

5 replies
Hello Guys,

Recently my PP has started to get quite large and consistent payments and I am worried they will freeze it and just as I was talking to a fellow marketer online I got this email....anyone else get this??? My PP is verified and around 3 years old and the country I am living at the moment just recently joined the EU and my PP is set up through a Bank in this Country...

Here is what I got...I am hoping it is only meant for our Cousins across the water...

----------------------------------------------------------------------
Please provide your tax ID number
----------------------------------------------------------------------


Dear Marc,

We're asking for your tax ID number due to new IRS rules. Your tax ID
number is one of these:

- Your Social Security number ****Not from USA so....
- Your Individual Tax Identification Number ****No idea what this is
- Your Employer Identification Number ****Work full time from home so not got that

We'll use your tax ID number to send tax Form 1099-K to you and the IRS
when the payments you receive exceed both of these milestones in a calendar
year: ****No idea what that means???

- $20,000 in gross payment volume for goods or services
- 200 payments for goods or services


We want to help you continue to sell with PayPal and to avoid any
interruption to your account. It's easy -- here's how:

1. Log in to your PayPal account.
2. A message will appear asking you to update your information.
3. Click Provide Now.

If you have multiple PayPal accounts, repeat these steps for each account.

We appreciate your help in complying with these IRS rules. For more
information, see our FAQs on the IRS reporting requirements:
www.paypal.com/irs

Yours sincerely,
PayPal
#email #pay #paypal #taxes
  • Profile picture of the author mediasurgeons
    Can't remember exactly but I'm sure there's an option at the bottom of the page along the lines of "I'm not from the US, this doesn't apply to me" and you tick it and everything returns to normal.
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  • Profile picture of the author Kay King
    Internal Revenue Code Section 6050W requires PayPal's non-US subsidiaries to comply with the new law. As a result, non-US account holders may need to certify their non-US status and their address. US sellers using a non-US PayPal account may be required to provide a tax ID number (Social Security Number (SSN), Employer Identification Number (EIN), or Individual Tax Identification Number (ITIN)) for those accounts. If you have an account with one of PayPal's foreign affiliates you may be contacted to certify your non-US status or provide a US Tax IdentificationNumber (TIN).

    Go into your paypal acct and verify that your address is listed and is not a US address. The above is from the page linked in that email.
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    • Profile picture of the author Sid Hale
      Originally Posted by Kay King View Post

      Go into your paypal acct and verify that your address is listed and is not a US address. The above is from the page linked in that email.
      Surprise. Surprise LOL
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      Sid Hale
      Coming Soon... Rapid Action Profits (Pro)

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  • Profile picture of the author giulio74
    checking whether it really paypal and not a pishing site
    you can also send an email for clarification to paypal
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  • Profile picture of the author daftdog
    Thanks for the help guys...got it sorted for now. Just had to confirm that I am not based in the US or subject to US laws.

    @Sid...your right I should have read the fine print but didn't notice the link in the email as it wasn't clickable.

    Had to reconnect W+ and click a few buttons in Paypal but it all seems all good now...worry over so thanks again!
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