IRS Email

Rob_Callaghan
Tourist
13 0 5

I received two emails today concerning tax records.

To comply with tax regulations, Shopify Payments is required to report your 2014 sales figures to the IRS. In order to do this, we need the legal business name and Tax Identification Number (TIN) that you have on file with the IRS.

Unfortunately, the information you have currently provided does not match IRS records. In order to avoid fines and penalties, you must update this information as soon as possible. You can do this from your payments settings page.

Tip: If you are a sole proprietor, your legal business name is likely your full name as it appears on your Social Security card and your Tax Identification Number is your SSN.

I am based in the UK. I'm from the UK and my store trades from the UK - why am I getting emails concerning the IRS?

 

 

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Massaad
Shopify Staff
Shopify Staff
329 0 35

Hi Rob,

Sorry for the confusion. The IRS is not concerned with your shop. We sent this out to some shops in error, we'll be sending an update with the correct info shortly.

Thanks for your understanding

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Sherron_Russell
New Member
1 0 0

I too got this email for a Canadian Store operating out of Canada with nothing to do with the IRS? 

Doesn't shopify recognize this from my store address info?  Do I need to change something or should I also expect an updated email correcting this first one?

 

thanks

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Massaad
Shopify Staff
Shopify Staff
329 0 35

Hello Rob and Sherron,

You should have both recieved another email updating about this. Feel free to get in touch with support if you have any questions about your payments account, we're always ready to answer any questions that might come up.

 

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LittleKing
New Member
1 0 0

I received an email today saying:

To comply with tax regulations, Shopify Payments is required to report your 2020 sales figures to the Internal Revenue Service (IRS).
The tax details you’ve provided don’t match the Internal Revenue Service’s (IRS) records. In order to avoid fines and penalties, you must update this information as soon as possible.

 

-First, what fine is there?? Is Shopify fining me? If so how much? Secondly, according to help.Shopify.com..

*Tax reporting

As a merchant, you are required to abide by all applicable regulations, including tax reporting. Depending on your jurisdiction, Shopify Payments might also be required to report your sales to the local tax authorities.

The United States, Australia, and Europe have unique tax reporting requirements.

United States

In the United States you are required to submit a 1099-K form to the IRS if you meet either of the following criteria:

  • You process more than $20,000 and have more than 200 transactions.
  • You meet your state's individual thresholds.

-I didn't process more than $20,000 or more than 200 transactions this year. It says "Shopify payments might also be required to report your sales to the local tax authorities". ??not Federal (IRS). Regardless I believe I didn't meet the threshold. 

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