Parking Companies Which Don't Require Tax Details

[kevin7046]

Newbie here! I would like to know if there are any domain parking companies who don't require tax details. I am currently using Bodis

 

[Jeff Weller]

No such thing (either SSN or Fed Tax ID) if they are US based or have a tax treaty with the US and if they offer a Paypal/Payoneer option). If you are getting paid electronically (Paypal, wire, Payoneer) and you don't disclose that income you put yourself at risk. Paypal certainly reports and sends a 1099 on $20K and higher. So the parking company question doesn't even apply. It's the payment processor you need to be concerned about. Solution - do less than $20K a year on Paypal and take a chance not disclosing the income since you won't get a 1099.

 

[LarryDomain]

Uh the IRS expects all companies to issue a 1099 after a total of $600 is earned.

 

[Jeff Weller]

They can expect it all they want - but Paypal is a payment processor not the generator of the revenue.
From Paypal's site:
"PayPal is required to report gross payments received for sellers who receive over $20,000 in gross payment volume AND over 200 separate payments in a calendar year. "
So the receiver of domain revenue from a parking company paid through Paypal won't be treated any differently than than an eBay seller selling their personal items which shouldn't be taxable.
How they arrived at $20K as the separator - I don't know - but it is the line.
Now what the parking company does as far as reporting may depend upon where that parking company is domiciled and a totally different issue.