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Everflow Pay Tax Features
Everflow Pay Tax Features

How to set up all Tax Features and extra info about Tax Prep Reporting.

Elaura Johnson avatar
Written by Elaura Johnson
Updated over 2 months ago

Table of Contents


Overview

With Everflow Pay, businesses can automate their tax reporting process and eliminate hours of manual paperwork. The platform auto-verifies payee tax IDs, enables instant W9 generation, and for a small fee, you can even enable year-end 1099 generation per payee, as well as tax filing 1099s directly with the IRS on your behalf and W9 generation with Payee signatures.

Between seamless TIN verification, customizable W9s, 1099 tax form creation, and IRS filing services, Everflow Pay takes the pain out of tax reporting so you can focus on business growth rather than administrative burdens.

Now see how Everflow Pay makes tax compliance and filing easy.

Watch this webinar to review new Tax features and get a demo of Everflow Pay:


Everflow Pay Included Tax Features and Reporting

Tax TIN Verification

When a Payee (Partner/Affiliate) signs up for Everflow Pay they are required to provide their IRS tax information. Once the information they provide is submitted Everflow then runs a verification through the IRS system to validate the tax information the payee provided.

Here are some crucial things to remember:

  • The IRS only allows a payee 3 attempts to validate the information.

  • If the payee fails to input accurate information 3 times a notification will be sent to you, the Payer, letting you know you must take action to approve and validate the information provided by the payee.


W9 Generation

During your Everflow Pay setup call, your Everflow Pay Account Manager will ask if you would like to turn on the feature to be able to generate W9's per the information your payees provide.

Note:

  • This will allow you to populate PDF versions of IRS W9's for each payee.

  • These PDFs are available for download per payee or in bulk within Everflow Pay, on the Payee page.

If you would like to enable this feature after your set-up is completed please reach out to your Account Manager or Pay.Help@Everflow.io.

TIN Verification does not need to be completed to be able to download payees' W9s.


Tax Preparation Reporting

At the beginning of each year, Everflow Pay will generate a tax preparation report for the prior year, with all tax information provided by each payee. This report will also provide the totals paid during the previous year for each payee.

You can access and download this report within Everflow Pay on the Company Details Page, under Statements.


Everflow Pay Additional Cost Tax Features

W9 Generation with Payee Signatures (Coming Soon)

W9 Generation can be enabled free of charge. However, for $TBD Per Signature, you can set up W9 Generation with Payee Signatures. This feature requires Payees to electronically sign the IRS W9 form they must complete during their billing setup. Once the W9 information is provided and signed, a PDF copy of their W9 will be available for download per payee or in bulk, on the Everflow Pay platform.

1099 Generation + IRS 1099 Tax Filing (Coming Soon)

1099 Generation and Filing is offered for an additional cost of $TBD.

The cost:

  • Covers generating a PDF of the completed 1099 IRS tax document at the beginning of the year for the year prior and filing of that 1099 to the IRS for each payee on your behalf.

  • Is charged per payee for each year you enable this feature.

  • Does not cover each payee for multiple years, only for the current tax filing year.


HAVE ADDITIONAL QUESTIONS?

Visit the Everflow Pay information page, contact your Account Manager, or email the Customer Success team at pay.help@everflow.io for more info.



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