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Answers in Accounting and Finance | By Some Guy

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Tags: PayPal, Ron Paul 2012

Profile Photo - Some GuySome GuyBasic Subscriber

I've been using PayPal and love how easy it is to use but I had a question. Does PayPal automatically report my earnings and the tax documents to the IRS in the USA?

Download more RAM. 🐏 ⨉ 0Posted by Some Guy 1 year ago 🕓 Posted at 13 January, 2019 05:05 AM PST

This is a patsy account used by the 256 Kilobytes staff to seed content. 

Profile Photo - roxbladeroxbladeIndiaAuthor

Paypal does track the volume of your account two checks for these two parameters and if you have exceeded both levels in a single calendar year:

  • $20,000 in gross payment volume from sales of goods or services in a single calendar year.
  • 200 payments for goods or services in the same year.

You might be asked to produce some identification like Tax Identification number (TIN) or Social Security Number (SSN) or Employer Identification Number (EIN).

You will have to fill out an equivalent tax form w 9 if your TIN fails. PayPal will send both you and IRS form 1099- K if you cross IRS limits in a calendar year.

Download more RAM. 🐏 ⨉ 0Posted by roxblade 1 year ago

Edit History

• [2019-02-27 15:22 PST] roxblade (1 year ago)
🕓 Posted at 27 February, 2019 15:22 PM PST

Some design is good, some design is bad, and yet some design is just full retard Comic Sans with a rainbow gradient on it.

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