Overview
Taxbit files US information returns for payments platforms, marketplaces, and digital asset brokers. You send the activity or the amounts and your recipients' tax data, and Taxbit computes the forms, files them, and generates each recipient's copy for you to show in your app.
Your reporting path
Three steps take you from payment data to forms you can show your users. They assume your tenant already has a default filer and your users already have account owners and accounts; if not, start with Set up your filer and Create account owners and accounts in Get started.
- Send payment transactions: send each payment to a recipient, and Taxbit computes the form amounts.
- Collect recipient tax data: get each recipient's W-9 or W-8 data to Taxbit, in your app with the SDK or through the API.
- Retrieve US tax forms: get each recipient's forms to show in your app.
Who this section is for
Payments platforms, marketplaces, and digital asset brokers that file US information returns for their users. Use it to 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.
Transactions or form items
The steps above follow the transactions path: Taxbit computes the form amounts from the payments you send. If your own systems already compute the amounts, you send form items instead, and Taxbit files and delivers those. The choice is made once, in your kickoff. Choose your data path explains the trade-off, and the Form Items reference has the schema. For historical loads, the Dashboard's file uploader takes CSV and JSONL instead of API calls; your implementation manager can walk you through it.
Digital asset brokers that need Taxbit to compute cost basis and proceeds for 1099-B or 1099-DA start in Cost Basis & Gains instead.
W-9s and W-8s
There are two ways to get a recipient's tax data to Taxbit. To have your users fill in a W-9 or W-8 inside your app, use the Tax Documentation React SDK. If you already hold the data, send it through the API, as Collect recipient tax data shows.
Where to go next
Start with Send payment transactions. Field-level detail for every request is in the Transactions reference, the Account Owners reference, and the Released Tax Documents reference.
Questions? Contact your Taxbit implementation manager or [email protected].
Updated 3 days ago