<prompt> Human: Hi everyone,I am 15 years old, and run a business. As of today 1129, I crossed a gross revenue of 30,000 NOT PROFIT OF 30,000, GROSS OF 30,000!!! I received an email from PayPal not only stating that they completely limited my account, banning me from possessing the ability to send or receive any form of payment, but that they need my social security number, tax id number, and worker employment number. Im 15; evidently I do not have any of those things besides a social which I was forcibly made to enter. I read this and though, ok, whatever. I can make another PayPal or if I have to, use my Dads. Now heres where I am stressed, confused, and kind of scared.The next portion of the email said this direct copy from the email To comply with the Internal Revenue Services IRS rules, we ask that yousubmit your Tax ID number to us as soon as possible. Your Tax ID number isone of these:- Your Social Security Number SSN- Your Individual Tax Identification Number ITIN- Your Employer Identification Number EINWe are required to obtain tax ID numbers from all online sellers whoreceive payments for goods or services through PayPal. If you do notprovide us with your Tax ID number, your account access will be limited,and you will be unable to request or receive money. After you provide usyour Tax ID number, your account will be fully functional.First off, do I owe any tax payments? Second off, how much would the amount I owe be if Ive grossed 29,857 this year and 200 from another PayPal they somehow detected. Thats around 30,000. These might sound like ill informed questions and I dont mean to sound stupid, but I am totally inexperienced when it comes to this and need someones help. Thanks! The rest of the email provides numerous instructions regarding how to reenable my account.1. Log in to your PayPal account.2. A message will appear asking you to update your information.3. Click Provide Now and follow the instructions.If you have multiple PayPal accounts, repeat these steps for each account.Well use your Tax ID number to send tax Form 1099-K to you and the IRSwhen the payments you receive meet the 1099-K reporting thresholds for thecalendar year. For more information, please see our FAQs on the IRSreporting requirements: Although the actual email never stated that owe taxes, I went to that link and saw my gross and how the amount received meets the IRS requirements.  <response>: Paypal is just going to pass your info along to the IRS, who you will owe money to by tax day on April 15. You dont owe Paypay anything and their part in this is just to send you and the IRS an official form saying how much money went through them.They tell the IRS that you received 30k, you report on your tax return that you received 30k but you spent XX on what you sold, so you have a profit of XYou will owe self employment taxes social security and medicare of 14.1 on any profits.If the profit exceeds your standard deduction of 6,350, you will owe federal income tax of 10-15 on the amount in excess of 6,350.If you owe a large amount of taxes, you may additionally owe late fees for not prepaying your taxes throughout the year. They are pretty lenient in your first year of a new business, but its possible. In your 2nd year, you will need to make quarterly tax payments. They dont let you fuck around in your 2nd year.To file your taxes, you will need to complete form 1040 the long form, not the EZ, schedule C you are the sole proprietor of a business, so you need this business form, and schedule SE you are self employed, so you need this self employed form. You may want to seek professional help to do this. 