The IRS Has Updated the 1099-K Threshold to $5,000 for the 2024 Tax Year – Automate Your
Filings Directly from Your Software!
Understanding 1099-K Compliance
for Resellers!
- The payments received for re-selling any items online, such as books, clothes, etc., are required to be reported on 1099 Forms.
- The reselling platform must report these payments using Form 1099-K.
- The 1099-K copies are then distributed to the recipients of these payments (resellers).
How TaxBandits API Helps Reselling Platforms
Ensure 1099-K Compliance
By integrating TaxBandits API into your Reselling Platform, you can easily ensure 1099-K compliance
directly from your software.
Securely Collect W-9
- Our API helps you automate the collection of W-9 Forms from the resellers via Email or an embedded Secure URL.
- Our TIN Matching service enables you to verify that the TINs collected match the
IRS Database. - TaxBandits securely stores the W-9s you collect and use them for future 1099 filing.
Easily Automate 1099s
- Our API enables seamless 1099-K automation at the year-end using the
W-9s and
payouts recorded. - Your 1099-K Forms will be e-filed with both the IRS and applicable
State agencies. - The 1099-K copies can be distributed easily via Postal Mail (or) a secure Online Portal.
Other Tax Filings
In addition to the 1099s, TaxBandits supports many other major tax forms,
such as,
- Form W-2
- Form 940, 940 Schedule R
- Form 941, 941 Schedule R
- ACA 1095 Form
Develop with Confidence!
Our API offers various helpful resources and tools exclusively for developers to make sure
they are able to develop with trust.
API Documentation
Our clear documentation guides you throughout the integration process with sample requests and responses for
each endpoint.
SDK Libraries
We have open Software Development Kit (SDK) libraries available in Java, Node JS, .Net, PHP, & Python that can help you use our API efficiently.
Sandbox
Using our Sandbox environment, you can develop and test the integration and simulate the end-to-end e-filing
process securely.
Webhooks
TaxBandits API allows you to retrieve the status updates of the tax returns you transmitted through Webhooks.
Advanced Security
We have incorporated standard security protocols to ensure the complete protection of all your data.
Developer Support
You can get in touch with our expert team of developers to get resolutions for your API-related questions, if any.
