I just had a message saying that YPN has verified my SSN or EIN today when I logged into my account. Does anyone has a similar update today. I am surprised as I am with YPN for more than 6 months now, also I have already received mutiple checks from them...why now
I am not sure why now...they should have done it when we apply for an account right?? Anyways, good to know that many had got this update...now I can go and sleep..
I think it has to do with the direct deposit feature, many banks do a check before starting direct depost.
IMO, Entering your business name under "Taxpayer Name" on the tax info form is the cause of this error. I think u have to enter your name as it appears on your SS card.
I got the entered incorrectly message as well. Is anyone who got this error functioning as a single-member LLC? I think what the problem is that when you choose OTHER and then enter LLC, it only lets you enter an EIN, when in fact most people use a social security number for this type of setup. Adam
Maybe they are trying to catch illegal immigrants! (Watch for black helicopters circling your residence....)
I spoke to a rep. yesterday and I got the impression that the YPN system checks the IRS database for a SS# match. Probably the best way to verify real SS #'s. After all, anyone can enter a fake number just to get it. As always, IMO.
FYI: I was also told that if you try to fix the error and fail twice, the system will not permit another try, and you'll have to print a W-9 and fax it to them for manual entry. FYI: It will take 5 business days for the system to verify your corrected info, so you'll see the "Your Tax Identification Number (SSN or EIN) has been entered incorrectly" warning even if you fixed the problem. If your corrected info works then you should be verified and A-OK after 5 business days. AmCy
They almost certainly need the SS/EIN# for the tax withholding purposes ... so my guess is even if you didn't say "yes, I want this", they did the verification anyway with the IRS - same thing happened to me.
Update: I'm happy to report that my SS# has been verified with YPN, so now the: message has been replaced with: So I'm pretty certain it was the "Taxpayer Name" that caused the error. As always, IMO. AmCy
Update: not happy. It failed again. I keep trying to explain to them that it's their end and not mine. I even provided links to everything I said to prove my point. The fact that I can't enter my SS# (greys it out only allowing me to enter an EIN) when I choose Other and enter LLC in the blank next to it is the problem. I don't have nor need an EIN, being a single-member LLC. I use this same info with 20+ other companies I work with, without problems. I urged them to call me, so we'll see, but since it's the financial department (which is handled by Overture's offices), I doubt I'll get a call. Sigh. Adam
I see what u mean: when u choose "Other", the option to enter your SS is disabled. IMO, I think u should fill out a W-9 and fax it over to YPN ASAP; maybe explain in your fax cover sheet that they need to modify their online form. http://www.irs.gov/pub/irs-pdf/fw9.pdf#search=w9 form
If you are registering your account under an LLC you will need to use your EIN not your SSN number I would assume. Your revenue will be taxed under your LLC and all payments will be made to the LLC so they could care less about your SSN.
Adam should be allowed to enter his SS#, because as a Single Member LLC, he has every right to use either his SS# or a EIN for tax purposes. The good news is you an get a EIN very quickly @ the IRS website. As long as they can match your name to your SS#, you can have a EIN in a matter of minutes: http://www.irs.gov/businesses/small/article/0,,id=102766,00.html AmCy