Take action on your PayPal account now: Confirm your taxpayer status

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Take action on your PayPal account now: Confirm your taxpayer status

by thaterrormessage » Fri Oct 16, 2020 6:44 am

Paypal Confirm Your Taxpayer Status
Paypal Confirm Your Taxpayer Status (143.99 KiB) Viewed 1101 times

Reminder: action required

Confirm your taxpayer status to avoid limitations to your account

Because you receive payment for goods or services through PayPal, we need to confirm your taxpayer status. This verification is required to comply with U.S. Internal Revenue Service (IRS) as well as State tax reporting requirements.

If your taxpayer status isn't confirmed, your PayPal account will be limited, and you won’t be able to request or receive money.

If you’re subject to U.S. tax reporting requirements, we’ll also need to collect your taxpayer identification number and also ensure that your business type is correct within your Profile (Business Information section) to prevent reporting issues in the future.

The taxpayer identification number you provide will be used to submit Form 1099-K to the IRS and the state associated with your PayPal account's primary address when the payments you receive in a calendar year meet the income reporting thresholds set by the IRS or the applicable state. You can learn more about your state and IRS reporting requirements at www.paypal.com/irs.

If you have multiple PayPal accounts, you’ll need to verify your tax payer status for each account.

If you have already provided your tax identification number, it's possible that you are receiving this message because the combination of your Name/TIN didn't match IRS records.

Thanks for being a valued customer.

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