Payouts and treasury platform PayQuicker launched its 1099 tax reporting answer, powered by fellow Finovate alum Avalara.
The brand new providing helps cut back the complexity of 1099 submitting whereas retaining firms compliant with the most recent regulatory mandates.
New York-based PayQuicker made its Finovate debut at FinovateFall 2022. Avalara is an alum of Finovate’s developer convention, FinDEVr Silicon Valley 2015.
PayQuicker, a payouts and treasury platform that made its Finovate debut at FinovateFall 2022 in New York, has launched its new 1099 tax reporting answer. Powered by agentic tax and compliance specialist—and fellow Finovate alum—Avalara, the brand new providing will assist firms streamline and automate 1099 reporting whereas decreasing each compliance danger and administrative burden.
“Companies want dependable automated options to remain compliant with out slowing down operations,” PayQuicker CFO Joe Bertalli stated. “By partnering with Avalara, we’re capable of present our prospects with a sturdy 1099 answer that reduces complexity, will increase accuracy, and provides them confidence of their compliance processes.”
PayQuicker’s 1099 answer permits firms to gather W-9 and different W-series tax varieties over the course of the 12 months to assist guarantee correct payee info always. PayQuicker’s answer additionally leverages real-time Taxpayer Identification Quantity (TIN) matching to validate information on the level of assortment. This helps cut back the potential for expensive backup withholding notices, penalties, and corrections at a time when regulatory necessities round tax reporting for companies have gotten more and more advanced.
Powered by Avalara’s tax compliance know-how, PayQuicker’s 1099 answer supplies scalable, safe, and compliant tax reporting for companies managing sizable numbers of payees. The answer facilitates the correct and environment friendly technology, submitting, and distribution of 1099 varieties supported by automated federal and state submitting, digital supply, and ongoing regulatory updates.
“PayQuicker is concentrated on making advanced monetary workflows simpler for companies,” Avalara Common Supervisor for 1099 Reporting Queenie Lee stated. “We’re excited to energy their 1099 answer with Avalara’s compliance experience, enabling prospects to automate reporting and cut back danger whereas staying centered on progress.”
An alum of Finovate’s developer convention, FinDEVr Silicon Valley 2015, Avalara leverages an expansive library of tax content material and trade integrations to serve greater than 200,000 direct and oblique prospects in additional than 75 nations. Avalara’s purpose-built AI brokers automate compliance processes from tax calculations and return filings to exemption certificates administration and extra. Avalara has helped firms obtain an 85% discount in time spent managing tax returns and a 50% discount in time spent on exemption certificates administration. Scott McFarlane is Co-Founder and CEO.
Headquartered in Rochester, New York, PayQuicker made its Finovate debut at FinovateFall 2022. On the convention, PayQuicker demonstrated its Payouts OS answer which packages the corporate’s know-how into an in-market payouts orchestration platform. Payouts OS leverages a single REST API that plugs into a number of banks and worldwide cost rails to determine and facilitate the quickest, most cost-effective manner for shoppers to make payouts to companies and customers world wide.
Photograph by Nataliya Vaitkevich
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