New IRS regulations require PayPal to collect TaxID information from customers when a transaction of more than $600 is processed. This can be in the form of a s

New IRS regulations require PayPal to collect TaxID information from customers when a transaction of more than $600 is processed. This can be in the form of a social security number or other business related Tax IDs (https://www.paypal.com/us/brc/article/tax-id-number https://www.paypal.com/us/brc/article/tax-id-number). In the last week, many PayPal customers are experiencing a problem where TaxID information is provided, PayPal's system acknowledges the receipt of the information, but the hold on funds is not removed. When PayPal customer service is contacted they acknowledge that this is a technical problem on their end. However, they are not able to provide an estimated time to resolution. Some customers are reporting holds of more than one week at this time.