posted on October 20, 2000 03:28:40 PM
I don't get too many payments via PayDirect and was I surprised this morning when I got a small payment from another auction. I check to make sure that the amount was right and Yahoo is asking me for my SS#! I had the right to decline, duh, and then it goes on to say if the payment is 3,000 or more they are required by the IRS to collect the number.
When did this happen? Has anyone else gotten this?
posted on October 20, 2000 03:58:58 PM
This is not new tax laws have always required this when you make a certin amount of income.
actually Most companys and people require your SS # once you earn $400 income .
WWW.dman-n-company.com
posted on October 20, 2000 04:17:18 PM
dman3
Excuse me but I don't get what you're saying. What if I didn't take PayPal? Each time I had a winning auction they would ask for my SS#? Why did't they ask me before?
Why isn't this in their TOS? Have they asked you for your SS#? And why did they pick 3,000 dollars, why not 400.00?
posted on October 20, 2000 04:55:19 PM
I was asked for mu ssn when I first signed on - it stated it was not mandatory so I opted out. I don't know about the $3000 bit. Was someone sending you $3000, and you got the message, or was this in the TOS?
posted on October 20, 2000 05:06:40 PM
I'm not sure that it has anything to do with income tax. I believe it is more about money laundering. For example, I'm not sure what the amount is, but if you buy a money order for over a certian amount, the company selling the money order is required to ask for ID and record the information. This would make more sense to me, especially with a $3000 amount.
posted on October 20, 2000 05:16:44 PM
It was for an under 10.00 item. Yahoo never asked me for my SS when I signed on and this was the first time they asked. When I declined to give it to them a screen popped up and said if the amount was 3,000 or more they were required by the IRS to get the number.
I don't know if I would give it to them and I suppose they could close my account. I don't remember any of this being in their TOS. Makes me a little bit leary.
I'm surprised how many people send me a personal check and they have the wife's and husband's SS# printed on the check!
posted on October 20, 2000 06:18:27 PM
helnjoe - was this your first transaction?
It sounds to me like they have added the $3000 pop up as a warning / heads up to people who do not provide their SSN, so they are not blindsided by this rule (law?) when they have cause to accept a large payment.
