PayPal Services - Tax Related???

Posted 6 years, 9 months ago by CionKeiasta

Really wanted to know for artists who receive payment via goods and services! (Probs US based artists more bc these sounds like stuff for IRS)

So PayPal will start asking for your SSN, Employer Identification Number, or Individual Tax Identification Number if the payments you receive in a calendar year go above both of these levels:

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

I've been putting this off bc I'm not sure how to go about it (since I've never done anything with the IRS stuff myself and still a new young adult LOLOL) and now they finally placed limitations and I can't even receive money uvu;;;;

I have no EIN or ITIN as of right now but I feel uncomfortable disclosing my SSN??? I still haven't had any tax related stuff since I never really had to deal with it and it's best to find out now since I want those limitations off my PayPal account and I'm going have to do taxes someday (but I can ask my parents about that then since I just had my first job- my PayPal thing going on rn is something they shouldn't know about for reasons OTL) ;;

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