Prerequisites and Requirements

To ensure a successful integration with the TaxBit Information Reporting platform, there are several prerequisites and steps that need to be taken. These initial requirements are designed to prepare your organization for a smooth setup and integration process. The foundational step in this journey is the kickoff call, detailed below.

The integration process officially begins with an implementation kickoff, led by your assigned TaxBit Implementation Manager. This call is pivotal, setting the stage for a seamless integration by covering the following essential topics:

  • Access to Credentials: During the call, you will be guided on how to access vital credentials required for the implementation, including S3 credentials, API credentials, and your organization ID (also referred to as tenant ID). These credentials are essential for accessing and utilizing our APIs.
  • Transaction Data Submission Preferences: Determining whether you will provide raw transaction data or aggregate form data is key. Raw transaction data submission involves sending us detailed, line-by-line records of each transaction. Organizations can also choose to provide aggregate form data for year-end tax form preparation. More information on these methods can be found in the “Sending Transaction or Form Item Data” section.
  • Transaction Types and Data Mapping: A discussion on your organization’s transaction types will take place, focusing on how they align with TaxBit’s data model. This step is crucial for ensuring accurate data integration, processing, and tax treatment.
  • Filer Information Collection: Information about your organization's Filers will be collected to set up Filer profiles in our system, a prerequisite for API integration. Depending on your legal entity structure, you may have multiple Filers that need to issue tax forms. This is also where you will define which disposition method each Filer wants to use for disposals. We default all methods to FIFO unless otherwise specified.
    • Please note: Filer may be referred to as “Payer” in some areas of TaxBit’s product.
    • If only one Filer is present for your organization, all accounts will be associated with that Filer by default.
  • Asset Mapping: You will need to provide a list of Assets supported on your platform, which is critical for mapping your assets within our environment. This ensures that before any data ingestion begins, your assets are accurately represented and processed in our system.

Following the implementation kickoff, you will receive a secure link to access your necessary credentials and organization ID.

Keeping Your Organization ID Accessible:
It is important to keep your organization ID readily accessible, as it is required for accessing environments and endpoints. This unique identifier ensures that your API interactions are correctly associated with your organization.