[ADXA] EIN Tax # & PayPal

[w5zn at w5zn.org]

Greetings ADXA Folks,

 

You may recall (or may not) back in January we were notified by PayPal, the
financial organization that processes our on-line membership and conference
registration fees, that federal law now requires that we provide a tax ID
number for our organization. If we do not, once our transferred funds reach
$600 any additional funds will be placed on hold and not transferred. If,
after 60 days, we do not provide an EIN # PayPal will begin withholding 24%
of the funds and send it to the IRS. As a result, we put a hold on all
PayPal transfer until we could sort this out.

 

ADXA has never been required to file a tax return or to have a tax ID number
but the new federal law changed all that. So, ADXA VP Pat, W5VY, took the
lead to sort through this bureaucratic bull crap and obtain what was needed.
We discussed a number of options, including formally chartering as a
non-profit organization. 

 

I'm pleased to report that ADXA now has a tax ID number (although we won't
be required to pay any tax) and we will no longer have an issue with PayPal.
In defense of PayPal, this wasn't their doing. They were simply complying
with the new, bogus, federal law. This was step one. Step two is Pat will
continue to pursue non-profit status for ADXA. We will address and will
resolve that in due time.

 

A very big THANK YOU to Pat for working through this.

 

73 Joel W5ZN

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