Sunday, May 19, 2013
What Does PayPal Report to the IRS?
Housing Assistance Tax Act
Beginning in 2011, the Housing Assistance Tax Act of 2008 will require companies such as PayPal to report certain information to the Internal Revenue Service (IRS).
Reporting Requirements
Under this act, PayPal is required to report to the IRS any individual or business receiving at least $20,000 in payments from a minimum of 200 transactions.
Preparing and Implementing
The gap between the passage of the 2008 Housing Assistance Tax Act and the law going into effect in 2011 gives PayPal users who receive payments time to prepare for tax reporting and gives the IRS a chance to figure out how to implement the new law.
How to Add a PayPal Button to My Forum
1. Set up a PayPal account. To access PayPal's button functions, you must have an account with the Web site.
2. Determine HTML functionality. Some Web sites have an easy system for adding HTML buttons and other widgets to your profile--just look for the key that allows for third-party functionality. Other sites do not, so you will have to look for the HTML code of your site or forum. Click the link to "edit HTML."
3. Choose your button. PayPal offers five different buttons to add to your forum or site: "Buy Now," "Add to Cart," "Donate," "Buy Gift Certificate" and "Subscribe." Choose the one that is most appropriate for your forum.
4. Personalize your button: After you are logged into your PayPal account, go to the "Merchant Services" tab. There will be a menu entitled "Create Buttons." Click the appropriate button. You will then be prompted to complete three steps that will allow you to personalize the button for your site needs. Click "Create Button."
5. Copy the HTML code generated by PayPal. Paste the code in the appropriate place on your site. Save the changes and refresh the page to see the button appear on the forum or site.
Saturday, May 18, 2013
Can You Use PayPal From Singapore?
Local Site
Visit PayPal's local site, paypal.com.sg, to use the Singaporean version of PayPal. Singapore-registered PayPal users must meet certain requirements mandated under the Monetary Authority of Singapore, ensuring the identity of customers who open an account. The procedure is called 'Know Your Customer,' and is similar to requirements that must be met when opening a bank or credit card account.
Banking
Sign up or log in to the site for access. Link your bank account in Singapore to your PayPal account for access to your funds in Singapore.
International Usage
If you are traveling to Singapore but want to use your national PayPal site, simply log on to the local PayPal site from your country to transfer funds while in Singapore. According to its website, PayPal has 'more than 87 million active accounts in 190 markets and 24 currencies around the world.'
How to Return a PayPal Payment to the Sender
1. Visit the PayPal Web site at PayPal.com, and log in to your account.
2. Click the 'Details' link next to the transaction containing the money you received and the sender you want to return the money to.
3. Select the 'Issue a refund' link located under the 'Amount received' information.
4. Type in the refund amount, and then click the 'Continue' button.
5. Click 'Issue Refund' to verify the refund and send it to the original payer.
How to Set Up a PayPal Tip Jar for Your Blog
1. Log in to your PayPal account. If you do not have one, visit PayPal.com and follow the onscreen prompts to set one up.
2. Click on 'Merchant Services' and scroll down to the 'Create buttons' menu. Click on the 'Donate' option.
3. Make sure the button field on the next screen says 'Donations,' then under 'Organization Name/Service,' enter the name of your tip jar. This might be 'Tip Jar,' 'Tips for John,' or whatever you choose to identify the button.
4. Click on 'Customize button text or appearance.' Select from the options offered. If you have created your own tip jar image, you can enter the url (Internet address) of the image as it is hosted on your site. There are also free and low-cost tip jar icons available online at various stock image websites; you can link to one of these if you desire.
5. Select your country's currency and the box that allows users to select their own donation amount.
6. Scroll down past Steps 2 and 3 (these are for business accounts only) and click 'Create Button.' PayPal will generate your button code.
7. Click 'Select code,' then press 'Ctrl' (PC computers) or 'Command' (Mac computers) and the 'C' key simultaneously to copy the code. Keep this page open in case you need to re-copy the code. Without a business account, PayPal will not save the code for you.
8. Sign into your blog account and access the page you use to alter the look of your blog by adding code, 'gadgets,' 'widgets' or other items.
9. Select the option that allows you to add a section of HTML coding.
10. Click inside the box for HTML coding and press 'Ctrl' (PC computers) or 'Command' (Mac computers) and the 'V' key simultaneously to paste the code. If your blog software allows you to title the section, type 'Tip Jar' or another title into the title line.
11. Save your changes and view your blog. Test the process by donating a small amount, such as 50 cents, to yourself. If it does not work, try copying and pasting the code again, making sure you have the entire code copied.
12. Let your readers know that the donation jar is available and how it works.
How to Dispute PayPal Charges
Dispute with Seller
1. Login to your PayPal account using your username and password. Click "Report a Problem" to open a dispute. Detail the dispute information, and post the message to the seller. Buyers must wait seven days before filing a claim for an item that was not received.
2. Review the seller's response message. Close the dispute if an agreement is reached with the seller. PayPal allows 20 days to resolve a claim between the buyer and seller.
3. File a PayPal claim by clicking "File a claim with PayPal" in your account, and PayPal will investigate the claim. Paypal has 30 days to offer a decision on a claim, issue any refunds and close the dispute.
Unauthorized Charges
4. Login to your PayPal account using your username and password.
5. Click "Report a Problem" in your paypal account if the charge was for unauthorized activity, and describe the dispute. PayPal will review your claim within ten days, and refund your money to your credit card, bank or paypal account if the transaction was unauthorized.
6. Contact your bank directly regarding the unauthorized charges if you disagree with PayPal's decision and still want to dispute the charge.
How to Find Your PayPal Transaction Number
1. Access the Internet and navigate to the PayPal.com website.
2. Log into the PayPal site using your full email address and password.
3. Locate the transaction for which you need to obtain a transaction number from the 'My Recent Activity' list, which appears onscreen automatically.If the transaction for which you need to obtain a transaction number is more than one week old, click the 'View All Of My Transactions' list to see all older transactions in chronological order.
4. Click the 'Details' link across from the transaction for which you need the transaction number. This will load a new screen titled 'Transaction Details.'
5. Look directly underneath the Transaction Details headline at the top of the page to find the type of purchase -- debit card or credit card, for example -- and an alpha-numeric code called the Unique Transaction ID.The Unique Transaction ID is the 17-character code that uniquely identifies each PayPal transaction.
Subscribe to:
Posts (Atom)