Get started overview

Your integration path

Four steps take you from credentials to data flowing. Do them in this order, because each depends on the one before it. If you have not read Prerequisites yet, start there.

1. Authenticate your tenant: get a bearer token from your backend with POST /v1/oauth/token. It lasts 24 hours.
2. Set up your filer: create the entity that submits returns. Account owners and accounts cannot be created until your organization has one.
3. Create account owners and accounts: create an account owner for each person or business whose tax data you collect, and an account for their activity.
4. Choose your data path: send transactions for Taxbit to compute, or compute the figures yourself and supply them as form data, sent as form items.

The three things Taxbit does

1. Collect tax documentation. The React SDK collects W-9 and W-8 forms, CRS/CARF tax-residency self-certification, and seller data for DAC7 and for MRDP, the OECD's Model Rules for Reporting by Platform Operators.
2. Calculate cost basis and gains. Lot-level inventory and realized gains under HIFO (highest in, first out), FIFO (first in, first out), LIFO (last in, first out), or LOFO (lowest in, first out), computed from the transactions you send. See Cost Basis & Gains.
3. Report to tax authorities. IRS information returns (the 1099 series, 5498, and 1042-S), DAC7 and MRDP submissions in the EU and UK, and CARF and DAC8 reports. See US Information Reporting, Digital Platform Reporting, and Digital Asset Reporting.

Two objects you need before anything else

Almost every integration problem Taxbit sees traces back to these two. An account owner is the person or entity whose tax data you are collecting. An account is a container of activity belonging to that account owner. Transactions attach to accounts, and tax documentation attaches to account owners. See the Account Owners and Accounts reference.

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Create the account owner before you mount the SDK

The SDK authenticates with an account owner token, which your backend requests with POST /v1/oauth/account-owner-token using the account owner's ID. The token lasts one hour. The account owner must already exist when the SDK loads, or the SDK cannot load that account owner's questionnaire. Create the account owner from your backend during signup, not at the moment the account owner opens the form. This is the most common cause of a questionnaire that fails to load.

Where to go next

Once data is flowing, pick the section for your platform:

• US Information Reporting: for payments platforms, marketplaces, and digital asset brokers. Collect W-9s and W-8s and file the 1099 series (1099-K, 1099-NEC, 1099-MISC, 1099-B, 1099-DA, 1099-INT, 1099-DIV, 1099-R), 5498, and 1042-S.
• Cost Basis & Gains: track cost basis, calculate gains and losses, and deliver tax forms to your account owners.
• Digital Platform Reporting (DAC7 & MRDP): meet DAC7 and MRDP seller reporting obligations in the EU, UK, and OECD.
• Digital Asset Reporting (CARF & DAC8): meet CARF and DAC8 reporting obligations with self-certification and transaction reporting.
• Tax Documentation React SDK: collect W-9, W-8, and self-certification data inside your app.

Before you build against production, Sandbox & testing covers your sandbox organization and the test cycle to run in it, Going live covers the cutover and what to monitor after, and the FAQ has short answers to the questions integrators ask most.

Questions? Contact your Taxbit implementation manager or [email protected].