US and International Tax Management

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XTRM helps takes away the burden of tracking and dealing with tax reporting in any country. This includes electronic collection of W9 (or equivalent) and electronic and mail submission of 1099-K's (or equivalent) to recipients plus electronic filing on your behalf to the IRS if required.

Online Tax Documents

Individuals from anywhere in the world can login to their personal digital wallet at anytime and download the 1099-K and the applicable payment transactions for any tax year. Withholding tax at source is typically not required as per tax rules. The recipients of payments will typically not be employed directly by your company so the responsibility to notify the IRS (or whichever tax authority based on where they live) or make tax deductions falls on the recipient. This is the case all over the world wherever we process payments. In other words, when the recipient submits their taxes, they have to declare 'Other income' and withholding at source is not required. Recipients can use the data on the 1099-K or the transaction breakdown posted in their account to notify their tax organization of all applicable payments.

Online Profiles (W9 and W8-Ben Equivalent)

To assist all recipients of with correctly filing their taxes for all payments sent and received, we capture all the relevant data electronically. This includes electronic collection of equivalent W9 and for international, W8-BEN data as well as electronic posting of 1099-K's to recipients online account for download, plus electronic filing for those that meet the IRS thresholds. This is applicable to all recipients wherever the live.

US Specific Companies - Payments to Non-US residents

US Regulations state that if the foreign individual is not a U.S. person and the services are wholly performed outside the U.S., then no form 1099 is required and no withholding is required. However, to assist all non-US account holders to easily report their taxes, regardless of their location in the world we provide them all with a 1099-K and the applicable payment transactions for any tax year. The data on this form can be used for filing taxes in their country. They can also download all of their account transactions for more details such as where payments came from and all amounts.