My payments are not available right away - US taxpayer
The US Internal Revenue Service (IRS) considers payments for goods and services totaling $600 USD (or the equivalent in your local currency) or more per tax year as reportable income.
As you’ve reached this threshold, we’ve sent you a Form 1099-K.
To report this income, please add your Tax ID, SSN, or EIN to your PayPal account. Until then, we’ll place any incoming payments for goods or services on hold for at least 60 days.
After this 60-day grace period, we’ll start sending 24% of your incoming payments for goods and services to the IRS as backup withholding for any potential income tax due.
You can confirm your US taxpayer status at any time to end the holds and backup withholding on your payments.
* Allow up to 30 minutes to remove the payment holds after you’ve added your Tax ID.
If the Tax ID isn’t added, we’ll send backup withholding to the IRS on a monthly basis. This means payments that you receive will remain on hold until the next backup withholding date.
Please ensure you’ve updated your PayPal app to the latest version to view your tax hold(s) and confirm your taxpayer status.