IRS Reporting Regulations on Third-Party Payment Transactions

Beginning with the 2011 tax year, new Internal Revenue Service (IRS) regulations require that U.S. third-party settlement organizations and payment processors, including Amazon Payments, file Form 1099-K to report unadjusted annual gross sales or payment volume information for customers who meet both of the following thresholds in a calendar year:

More than $20,000 in gross payment volume, and
More than 200 transactions.
xxxxx


Therefore, if you send and/or receive $1K/month, that'll will only be $12K a year which does not meet any of the above threshold.

HTH

source: https://payments.amazon.com/help/Per...t-Transactions

Sorry I answered my question all by myself

Thank you for clarifying!^

No good; account shut down today, unique info, not a duplicate. Added a new CC in account name, sent $450 pmt to party same as has been done for >24 months (subcontractor fees) and AP froze the sending account after a 12 hour hold. No email other than 'failed payment' but account is definitely shut down. Should have the appearance and fact of being legitimate by most standards...

Worthwhile to work at resuscitating, or easier to ask for close + reopen again?

I have never read of any reconsideration or second chance given but if you'll try and succeed, please let us know.

It almost seems though that the new card was placed on hold automatically and then required a CSR override. At this point, your account was manually reviewed and flagged.

Perhaps there is a trick to adding a new card (i.e. wait a few days before spending, or send a very small amount to 'kick start' it, etc?)

Has anyone had problems using a Venture Card with AP? It seems to let me send little payments, but nothing near 1k.

Here's something new (at least to me):

Opened a new account yesterday (admittedly, my 3rd account with same name, address, and social). Added a withdrawing bank account (not a duplicate of what's associated with my other AP accounts). Added a CC (never used before with any other account). Attempted to send $600 to my wife's account. A few hours later I received an email titled "Account on hold - Response Required."

The email went on to say:

"Unfortunately, we are currently unable to process your transaction(s). As part of our verification process, we request that you fax us a copy of a recent credit card billing statement confirming the name, address, and telephone number associated with the credit card presented for your transaction."

It later went on to say:

"At this time, your Amazon payments account has been placed on hold. This means that you will not be able to access your transaction information online. Please do not initiate any further transactions or open a new Amazon Payments account until the billing information associated with your credit card has been verified."

A subsequent email notified me that my payment has failed.

I did NOT receive a "payment failed due to multiple accounts" email as I have in the past, so it appears that the multiple accounts is not the issue (at least for now).

Anyone have any experience with this type of request?

since you admittedly tried to open a NEW account using the same name, address, SSN, don't expect it to go through since it may have been flagged since you already have an account. if you were just taking your chances hoping it'll go through, you know now that you failed. Hopefully, your ongoing active account will not be affected by this action.

while we can test boundaries, we should also be prepared for adverse consequences, if any.

btw, just because others can get away with multiple accounts using same info, it does not mean all of us have the same luck.

Where I'm from, we call this ballsey. Good luck.

I never had a problem using Venture with AP. Dont think it is AP's but you should call Cap One to see if they have it on hold for any reason.

made a silly mistake today. sent $200 to my friend yesterday who accidentally refunded the amount to my Amex gift card (this was how I sent the money to him). I should have been careful and not sent the same amount to him again (because refunds to Amex gift cards can take 7-10 business days) and as soon as I did that, the transaction failed.

After reading all the shutdowns, I don't want to attempt this again anytime soon. Let us see what happens.

Amazon request idenity
 

Yes its asking you to idenifiy your self .You must fax a copy of a bill or bank statement with your name and address on it.

I wasn't asked to provide documents, I fulfilled all the requirements so I can link CCs to add funds and a bank account to w/d from AP. I am satisfied to have separate accounts for me and DH and have no plans to add more knowing I cannot have control of those accounts.

I've opened multiple accounts in the past. My wife currently has three in her name/SS. I currently have 2 good ones in my name/SS, excluding the one I am talking about here. I've had other duplicate accounts in the past get shutdown. But those shutdowns are always accompanied by emails that leave no question why I was shutdown -- those emails have specifically referenced the fact that I had multiple accounts.

This appears to be something different entirely. This is an email requesting a credit card statement, I guess to verify that I am the user of this credit card. I've never seen this before or heard anyone report on something like this. I'll send them the verification they are asking for and see what happens. Worst case scenario, this particular account gets shut down.