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Credit Card Sales (Read 84 times)
 
Don Stephan
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Credit Card Sales
Sep 21st, 2021 at 7:16pm
 
Our woodturning group has been using Square for payments at our Symposium, and Square requires a social security number with registration.  In theory, Square could report all the turning group charges as income to the individual's social security number.  Anyone know of something like Square that would accept a nonprofit organization's identification number?
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Ron Sardo
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Re: Credit Card Sales
Reply #1 - Sep 22nd, 2021 at 7:00am
 
All online payment systems are required by bank regulations and federal law to ask for a Social Security Number. Even if you plan on using their services for a business, regardless if the acount if for profit or nonprofit that info is still required. That information is needed to ensure the account holder is a citizen or a permanent resident of the U.S. There isn’t any online payment system in the US that is available to use without providing a valid SSN.

In addition, if one decides to open a business account with a brick and mortar bank, you will still need to provide a SS#


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Employer Identification Number (EIN): The option to enter an EIN does not replace the SSN or ITIN requirement. Adding an EIN helps us identify you as a business and is advantageous when it comes to completing your taxes.


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Don Stephan
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Re: Credit Card Sales
Reply #2 - Sep 22nd, 2021 at 6:06pm
 
Thanks for the information Ron.
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