3rd paypal account speculations - Does PP Burnell have a hidden stash? Speculate here if you want to.

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DiabeticSP said:
That makes a lot more sense. When put that way I feel bad for accusing you of assuming he's capable of actual fraud (only a little).

We do know he transfers all his money out immediately from both paypals but I think its to a bank account, since Nancy could see the cash coming out and didnt ask where it was going (so she must have a bank account showing deposits and then the cash leaving from there).

I imagine one click pay is set up to a card so its probably going to that one.
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Youre all good. Im use to it here fam. I praise @Nigel of Ukip for trying to dig into this but I am not sure how you'd uncover a third account of banking information unless dave showed it on stream or talked about it tbh.
 
Bryan Dunn said:
Youre all good. Im use to it here fam. I praise @Nigel of Ukip for trying to dig into this but I am not sure how you'd uncover a third account of banking information unless dave showed it on stream or talked about it tbh.
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Doesn't Paypal automatically report your income and transactions to the government once you reach a certain limit (10kish?)? Does anyone know if they do it even if you just transfer money from your own accounts?

Unless he's just keeping a few thousand in the account, could he really be completely hiding it from the taxman and bankruptcy proceedings?

I mean, paypal isn't like bitcoin or something, it's a legitimate, huge business.

The one thing that is obvious though, is that he has way, way, WAY more in assets than he lets on. Remember those megaman quilts he bought for thousands a piece? Along with the insane library of dvds, coffeemakers, toys, games and other shit he has shown on videos and house tours.
 
wahkando said:
Doesn't Paypal automatically report your income and transactions to the government once you reach a certain limit (10kish?)
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No. I have had a PayPal business account now for some time for my online work and they just tell you to get your tax forms ready with links to where you download them(depending on what youre doing with that account). 990 forms, 1099 forms etc.

Paypal doesnt do your taxes and income report for you. That'd be turbotax
 
Bryan Dunn said:
No. I have had a PayPal business account now for some time for my online work and they just tell you to get your tax forms ready with links to where you download them(depending on what youre doing with that account). 990 forms, 1099 forms etc.

Paypal doesnt do your taxes and income report for you. That'd be turbotax
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Does Paypal themselves generate a 1099 for you? Usually a 1099 has two parts, one for the entity and one for the government.

When I generated 1099s for clients at year end one file was used to print 1099s for clients and the other was sent to the government.

But Paypal might not do that since they aren't the ones actually paying you.


Edit: according to paypal: https://www.paypal.com/us/smarthelp...rs-will-i-receive-a-1099-tax-statement-faq729

They send the IRS a 1099 automatically of you exceed the thresholds. But if Phil had an account just for special donations he probably wouldnt hit the threshold.
 
Bryan Dunn said:
No. I have had a PayPal business account now for some time for my online work and they just tell you to get your tax forms ready with links to where you download them(depending on what youre doing with that account). 990 forms, 1099 forms etc.

Paypal doesnt do your taxes and income report for you. That'd be turbotax
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Yeah I understand they don't do your taxes, I was just under the impression they sent a 1099 to the IRS once you pass a threshold, from;"If you cross the IRS thresholds in a given calendar year, PayPal will send Form 1099-K to you and the IRS for that year early in the following year."

The US is obviously not as centralized as Europe when it comes to the federal and state government levels but unless my income is under the table, my national tax authority will know about it even if I don't report it, which is how I thought paypal worked once you passed the threshold in the US.

But he could obviously just be keeping 10-19,999 per year in the PP account and not report it I guess.
 
DiabeticSP said:
Does Paypal themselves generate a 1099 for you? Usually a 1099 has two parts, one for the entity and one for the government.

When I generated 1099s for clients at year end one file was used to print 1099s for clients and the other was sent to the government.

But Paypal might not do that since they aren't the ones actually paying you.


Edit: according to paypal: https://www.paypal.com/us/smarthelp...rs-will-i-receive-a-1099-tax-statement-faq729

They send the IRS a 1099 automatically of you exceed the thresholds. But if Phil had an account just for special donations he probably wouldnt hit the threshold.
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wahkando said:
Yeah I understand they don't do your taxes, I was just under the impression they sent a 1099 to the IRS once you pass a threshold, from;"If you cross the IRS thresholds in a given calendar year, PayPal will send Form 1099-K to you and the IRS for that year early in the following year."

The US is obviously not as centralized as Europe when it comes to the federal and state government levels but unless my income is under the table, my national tax authority will know about it even if I don't report it, which is how I thought paypal worked once you passed the threshold in the US.

But he could obviously just be keeping 10-19,999 per year in the PP account and not report it I guess.
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Here is Paypal business FAQ statement. Looks like they do report your income for you if you break the $20k threshold in a year though they are vague on what qualifies you as they say it's certain sales and purchases made through PayPal.

I dont believe DSP qualified for this due to his link being a donation or tips. The business account would not show it as that type of sale. Ill give an example.

Example: this is a donation to my PayPal business Account. This was shown as a donation, not a transaction. This person used a Donation Link, similarly the same as DSPs, to send me a donation for my services or a tip.
20200412T113811.jpg

Now this is what a Purchase looks like, I had to use my business account to purchase a new IP subnet recently for online work. This is what it's gonna look like if DSP used his paypal business to buy stuff.
20200412T113840.jpg

And if DSP was getting Paid for his services this is what itd look like.
20200412T113902.jpg

So PayPal would definitely be seperating Dave's tips as Donations. Not a purchase or service charge.


Also the Business FAQ on tax reports.


Img-1586705562796.jpg
 
Bryan Dunn said:
Here is Paypal business FAQ statement. Looks like they do report your income for you if you break the $20k threshold in a year though they are vague on what qualifies you as they say it's certain sales and purchases made through PayPal.

I dont believe DSP qualified for this due to his link being a donation or tips. The business account would not show it as that type of sale. Ill give an example.

Example: this is a donation to my PayPal business Account. This was shown as a donation, not a transaction. This person used a Donation Link, similarly the same as DSPs, to send me a donation for my services or a tip.
View attachment 1226285

Now this is what a Purchase looks like, I had to use my business account to purchase a new IP subnet recently for online work. This is what it's gonna look like if DSP used his paypal business to buy stuff.
View attachment 1226286

And if DSP was getting Paid for his services this is what itd look like.
View attachment 1226287

So PayPal would definitely be seperating Dave's tips as Donations. Not a purchase or service charge.


Also the Business FAQ on tax reports.


View attachment 1226280
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Lol that would explain his fervent harping about 'voluntary contributions' during the hearing and streams. Then he will feign ignorance if discovered.

Very possible indeed.
 
Last fall he mentioned overdrafting a lot so the money from the tips must have evaporated pretty quick to somewhere.
 
DiabeticSP said:
Does Paypal themselves generate a 1099 for you? Usually a 1099 has two parts, one for the entity and one for the government.

When I generated 1099s for clients at year end one file was used to print 1099s for clients and the other was sent to the government.

But Paypal might not do that since they aren't the ones actually paying you.


Edit: according to paypal: https://www.paypal.com/us/smarthelp...rs-will-i-receive-a-1099-tax-statement-faq729

They send the IRS a 1099 automatically of you exceed the thresholds. But if Phil had an account just for special donations he probably wouldnt hit the threshold.
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This cuts to the heart of it for me. I think people are conflating two similar but separate things, Phil having secret accounts to hoard money vs Phil having secret accounts to dodge taxes, which he then immediately spends the money from in his usual way. I think the latter is very plausible because it's the kind of half assed scheme he would come up with.
 
As others have said I don't think Phil has the hindsight to try something like that although if there's one thing I've learned from watching him it's that his schemes are truly unending.
 
ppburnell@yahoo.com is also linked to an apple ID

C29B3EDF-C92E-4936-A329-7AC3C37951C9.jpeg

edit:

email was wrong but found something interesting

turns out after enough failed log in attempts, apple will spit out a generic "account locked" message even if an email doesn't belong to an apple id
 
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Just a heads up for anyone doing 'research' on this other account of Phil's - email address in the OP is incorrect. Don't know if this was deliberate to avoid autism but didn't want any attempts to verify this info falling at the first hurdle when 'email address doesn't exist' came up.
 
_XXIII_ said:
Just a heads up for anyone doing 'research' on this other account of Phil's - email address in the OP is incorrect. Don't know if this was deliberate to avoid autism but didn't want any attempts to verify this info falling at the first hurdle when 'email address doesn't exist' came up.
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If that was my note, my bad. Did it from memory. What's the correct one?
 
actually said:
If that was my note, my bad. Did it from memory. What's the correct one?
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I had to hunt down Architect's original post but it's burnellpp@yahoo.com which is just Phil being odd and probably trying to hide the account further by not logically putting the initials first.

Didn't want people dismissing this information because the email came up as a dud.
 
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