PayQuicker Tax Services
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Top 4 Reasons Enterprise Clients Turn to PayQuicker Tax Services
When a business chooses a payout platform, a key goal is to streamline the payout process so your finance and accounting team can be more productive where it counts.
With tax season upon us, finance teams are busy collecting tax documents, closing books, running year-end reports, distributing 1099s or T4As, and everything in between. The task of collecting, verifying, and distributing tax documentation, and the necessary follow-up is a seasonal drain on most company’s finance and accounting resources. In addition, handling sensitive personal data has its own risks and complexities. The result is a tremendous burden that increases company costs and decreases productivity.
PayQuicker US and Canadian Tax Services relieves the burden of tax season and allows our clients to focus on building their business.
The Top 4 Reasons to Enroll in PayQuicker Tax Services:
- Security — Lower risk and significant cost of a data breach by allowing PayQuicker to handle sensitive personal data on our secure, audited technology platform
- Compliance — Lower risk of penalties with our service configured to meet all regulatory formats and deadlines for document distribution and filing
- Productivity — Relieve your accounting team of the seasonal surge of tax related work so your staff can focus on business building activities
- Cost savings — Save time and money with our cost-effective fee schedule and value-added features
How it Works
PayQuicker tax services operate seamlessly within each payee’s payout account. Clients determine the desired tax earnings threshold, which is configured in their PayQuicker client admin portal. Once a payee reaches the earnings threshold, a tax banner appears in their account prompting them to provide tax related documentation. The required tax documents are easily downloaded by the payee, completed, and uploaded for submission.
The PayQuicker platform tracks the form completion status of each payee and will hold pending payouts until the appropriate tax forms are submitted and verified. Payees are advised when payouts are pending and will continue to be reminded of the needed tax information through the banner, which will remain displayed in their account until the required tax information is provided.
The documents are securely stored in the PayQuicker platform until 1099s and T4As are verified and processed. PayQuicker automatically files 1099s to the IRS and T4As to the CRA. Payees are sent their approved 1099s or T4As via email.
Click here for more information on the PayQuicker Tax Services process.
PayQuicker Tax Services Features
Ease the burden of tax season with PayQuicker’s automated Tax Services.
• Year-end reports and tracking of threshold-earning payees
• Automated notifications to payees to upload tax forms triggered by configurable earnings threshold
• Payments held while tax forms are submitted and verified
• 1099 and T4A verified electronic issuance by email
• 1099 and T4A manual issuance for failed electronic delivery
• Support of 1099-NEC, 1099-MISC and 1099-K
• Automated Tax Identification Number (TIN) verification
• SIN documentary collection for Canadian payees
• W-9 form collection for US payees
• W-8 form collection for Canadian payees
• IRS corporate filing for US payees
• CRA corporate filing for Canadian payees
• Easy to use interface for guiding payees through completion of document upload
• Continued client access to archived tax forms
Why Enroll in PayQuicker Tax Services?
- Adding Tax Services to your PayQuicker payout solution lowers your risk of managing sensitive personal data related to tax documentation.
- Integrated id and social identification number verification keeps company and payee information secure.
- PayQuicker Tax Services helps you avoid for penalties by helping you meet and exceed compliance and reporting standards.
- Tax information is gathered in a format compatible with all major tax service providers.
- Self-service form completion and upload reduces the risk of errors and increases payee engagement.
- PayQuicker automated tax services simplify the reporting process and leave a clear trail of documentation.
- PayQuicker collects taxpayer information cost-effectively, relieving the burden on your finance and accounting team.
Don’t let tax time burden your business — rest easy knowing that PayQuicker takes care of everything.