What's new for tax year 2022

Learn about new features available for Connect platforms and marketplaces filing 1099s with Stripe.

For tax year 2022, Stripe is introducing new features that help Connect platforms efficiently and accurately meet their 1099 tax reporting obligations for Custom and Express US-based accounts. These new features make it more convenient for platforms to comply with their 1099 tax reporting obligations at scale.

Stripe delivers 1099 forms to Standard accounts through the Stripe Dashboard.

Set your tax form defaults

Stripe’s new tax reporting onboarding flow provides guidance and resources to help your team set up correctly for the 2022 tax year. You can configure tax form settings, confirm delivery preferences, and give your team access to the tax reporting Dashboard. Providing required inputs auto-generates your 2022 tax forms for all your connected accounts, while allowing you the flexibility to edit tax form settings as needed.

Meet your state filing obligations

In addition to e-filing tax forms with the IRS, you can now e-file with applicable states directly from your Dashboard. Stripe automatically applies thresholds per state to determine which forms need state filing.

State e-filing has an additional cost. Stripe supports e-filing in all states with the exception of states requiring withholding.

You also have enhanced visibility into the status of 2022 tax forms. Within the Stripe Dashboard, you can view a distinct status for federal and state filing, as well as an overall filing status that highlights forms requiring action either at the federal or state level.

You can filter tax forms based on the federal, state, or overall status, so you can find any form that needs attention, even if that form isn’t filed with the IRS. The state filing status uses the state-specific reporting threshold for payments to determine whether you should file a form, and a tab gathers all 1099 forms with a missing TIN that you’re supposed to file according to state requirements.

Deliver a seamless payee experience

By enabling e-delivery, your platform can provide payees with a web and mobile dashboard for managing their tax information and receiving 1099s electronically through Stripe Express, no coding required. The Stripe Express Dashboard is a frictionless and unified experience for payees, each of whom has a single login to access both their tax forms and earnings across all Stripe platforms where they have a presence. After a payee verifies their identity upon first login to the Dashboard, they can grant e-delivery consent, view their tax form, and update their tax information ahead of filing.

For security reasons, Stripe limits the number of connected accounts that can share an email to 20 and prevents access to the Dashboard when more than one user is on the same connected account. For these users, Stripe supports only paper delivery of forms.

The Stripe Express Dashboard is fully integrated with the tax forms in your platform’s Stripe Dashboard, which means:

Your platform can manage all filing and delivery obligations through Stripe, without the need for a separate solution to enable payees to update or view their tax information.
Payee data is synchronized automatically between the payee’s Dashboard and your platform’s Stripe account, so you can avoid integrating with third-party software, importing and exporting CSVs, or reconciling last-minute changes.
With Stripe as a single source of truth for payee details, your platform can stay compliant with IRS requirements without having to store TINs or tax forms. This mitigates the risks of storing sensitive information like Social Security Numbers and Employer Identification Numbers.

You can configure outreach from Stripe to payees at several stages throughout the tax season. This simplifies the process of collecting accurate tax information and delivering tax forms according to payees’ preferences. Your logo is taken from your Connect branding settings to customize the pre-built email templates and the product flow.

November–December: Stripe sends payees an email to make sure their tax information in Stripe is correct and requests e-delivery consent.
January: After you file forms in your Stripe Dashboard, Stripe sends payees a link to view their final form in Stripe Express. Payees who don’t grant e-delivery consent receive a postal-mailed form. Your platform can request that Stripe e-deliver on-demand copies of the tax form at any time.

Manage your data with more control

With minimal CSV imports, we’re improving the way you import form updates at scale. When making changes to forms in bulk, minimal CSV imports reduces the chance of inadvertent errors by limiting the number of columns required for those imports. You can specify and upload only the columns you want changed. The form_id column is the only one required to make sure changes are correctly mapped to the appropriate form.

Availability

Starting in November, you can access preliminary 2022 tax forms and new tax reporting features directly from your Stripe Connect Dashboard. Your team needs either Administrator or Tax analyst user permissions to get started.