Does paypal share your transactions with the governments/IRS?

Discussion in 'PayPal' started by fatabbot, Aug 26, 2009.

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  1. #1
    Paypal recently limited my account and requests ID and bill scans.
    What does paypal use this for? Do they share anything with third parties or governments? Is your info safe and confidential with paypal?
     
    fatabbot, Aug 26, 2009 IP
  2. Moses8595

    Moses8595 Peon

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    #2
    No,Don't worry.It's safe.They just want to check whether the account is yours...
     
    Moses8595, Aug 26, 2009 IP
  3. Steve Powers

    Steve Powers Peon

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    #3
    First,you needn't worry about this.Paypal will be always responsible for its subscribers.Then,in order to help you,I still need a little more information if you don't mind.Because there can be many reasons when paypal limit one's account and ask for information such as ID and bill scams.
     
    Steve Powers, Aug 26, 2009 IP
  4. bluesinjid

    bluesinjid Well-Known Member

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    #4
    Thanks for this thread. Man at first i thought they would give out info to the government, but thankfully paypal doesn`t. I can have peace of mind again ;)
     
    bluesinjid, Aug 27, 2009 IP
  5. clade

    clade Peon

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    #5
    Tax evasion is illegal still. I would suggest you against it.
     
    clade, Aug 27, 2009 IP
  6. chandan123

    chandan123 Prominent Member

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    #6
    it depends on where you live ;)

    but still government can track your activity with paypal when withdrawing money
     
    chandan123, Aug 28, 2009 IP
  7. fatabbot

    fatabbot Well-Known Member

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    #7
    How are you so sure about this?
    Do you have any proof that they don't share it?

    Why is it only needed when you receive a certain amount of money?
     
    fatabbot, Aug 7, 2010 IP
  8. mubashirnisar

    mubashirnisar Banned

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    #8
    no they wont share with govt,but yes if govt asks paypal,then they have no other way but to follow the orders
     
    mubashirnisar, Aug 7, 2010 IP
  9. zodiac

    zodiac Peon

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    #9
    paypal is like a bank,they just don't hand the government the records of their customers.
    they'll just report what they have to by law,like if you made interest or they're handed a court order.

    a bill did pass that will require paypal to report people to the IRS that take in more then $20,000 or 200 transactions in a calender year (if i have that right).
    starting next year for the tax season of 2012.

    as for you original question,there are US laws that paypal has to follow.they just want to verify that you are who you say you are.
    they're not going to hand that info to anyone and your not going to start seeing white vans parked across the street. :)
     
    zodiac, Aug 7, 2010 IP