Stripe

Support

Payable 1099 Tax Integration for Platforms using Connect with Express and Custom Accounts

For tax year 2017, Payable, now a part of Stripe, will help provide a complete federal 1099 tax solution to platforms that have transfer recipients or connected accounts in the United States. By integrating with Payable, you can automatically and seamlessly generate, deliver, and e-file 1099 forms for all contractors and vendors.

As such, you will soon see a prompt on the Stripe dashboard to get you started. We’ve laid out what the process would look like here on our joint-launch page.

As we get closer to the time for delivering these, we’ve tried to anticipate a list of questions you might have as you get ready to file and have included those below. You can also checkout the Tax Help Center as another great follow up resource.

We know that this is a challenging process and we are here to help! You can reach us here.

Do I have all the information on my merchants required to file a 1099?

Payable has provided a Tax Help Center to help answer many of these questions. The information required for a 1099 to be filed is as follows:

  • Legal name of the contractor
  • Business name if different from the contractor’s name
  • Contractor’s address
  • Social Security Number or Tax Identification Number
  • Payments total (a calculation of how much you’ve paid that contractor in total for the year)
  • Contractor’s email address for delivering the 1099s
  • The contractor’s federal tax classification

Much of this information has been required by Stripe in order to onboard and verify merchants, but it is worth double-checking to make sure this information has been passed to Stripe. If you have a significant number of accounts without this data or have not passed it to Stripe (especially the emails), we definitely suggest reaching out to the users to collect this information and passing it to us via the API. If this applies only to a few straggling accounts, this will be called out through Payable’s interface and can be requested from the user at this point.

See here for details on updating via the API:

Do I need to send a 1099K or a 1099MISC?

We’ve worked with Payable to offer a guide as you think about the type of filing you want to make. Note: you will want to confirm this information with a legal or tax professional.

What are the major dates I should keep in mind?

For 2017 payments, you’ll want to keep the time frame below in mind for sending 1099s. You also must send a copy of each 1099 to the IRS.

  • 12/20/2017: Payable integration goes live in your Stripe dashboard

  • 01/01/2018: The first day you can import all 2017 data to Payable

  • 01/08/2018: The first day you can initiate delivery and filing of 1099 forms

  • 01/24/2018: The recommended deadline for all mailed forms, when mailing via Payable

  • 01/31/2018: Last day to deliver 1099s

Was this answer helpful? Yes / No