Add Trolley, stay compliant with IRS regulations
Stay on top of changing thresholds for forms 1099 & 1042 production and delivery.
With Trolley, you can automate your IRS compliance management process when paying within the US and anywhere else globally. Save time with our self-service approach to generating recipient W-8s and W-9s, automatic activity allocation, and EoY filing.
Key features of our IRS compliance product
Digital W-8 & W-9 collection and earnings allocation
Whether you use Trolley’s white-label portal or embedded widget, it’s easy to securely collect payee identification and tax information.
- Securely collect and store Forms W-8 and W-9 following IRS requirements.
- Validate TINs including SSN, EIN & FTIN.
- Every three years, W-8 forms expire, and a new one is automatically requested.
- Withholdings are automatically updated as tax regulations change.
- Multiple income types are supported: services, rent, royalties, tax exempt, etc.
- Single payments can be split and allocated to multiple income types.
Generate EoY reports in minutes and e-file with the IRS
Streamline statement generation and filing (1099 & 1042-S) with automated year-end tax reporting. Comply with the IRS's regulations for contractor, non-employee, royalty, and other forms of income.
- Central hub to maintain completed tax forms for IRS audits.
- Generate year-end Forms 1099 and Form 1042-S for e-filing.
- EoY 1099-MISC, 1099-NEC, 1042-S, & 1099-K reporting with statements delivered via a click.
- Deliver recipient statements digitally or through physical mail.
- Support for returned payments and statement correction.
1099-K: Comply with the IRS’s changing thresholds
With gross payment and transaction thresholds changing over the next few years, EoY tax statements for your US-based marketplace should increase exponentially. Trolley's payouts solution offers native tax support for IRS Form 1099-K.
- Manage higher volumes of Form 1099-K with automated onboarding, payment tracking, and EoY filing.
- Consolidate pay and tax workflows.
- Say goodbye to the worries of constant updates, maintenance, and tech debt.
- Manage all your recipient data, payouts data, and tax data from a single platform and reduce errors across your systems.
Keep up with regulations without the dev work
With ever-changing regulations, keeping up with an in-house tax product can distract from your core offering. Trolley Tax ensures you are always up to date and those ever-changing regulations never affect your business continuity.
Scale your business globally
Expand across borders without the headache of global regulations. Trolley’s Tax product also supports DAC7 compliance for EU-based sellers. Collect tax information, make regular payments, and generate EoY reports ready to submit to authorities in any of the 27 EU member states.
- Simple tax info collection with our self-serve tool, tailored for EU sellers.
- Support for all four activities reportable under DAC7.
- Per-payout tax records, for efficient EoY processes.
- XML reporting file generation in line with cross-Europe DAC7 standards.
- Navigate US and EU regulatory landscapes from a single platform. [Coming soon]
An all-in-one solution for the internet economy
With Trolley, your teams can save nearly 80% of the time spent managing administrative tasks related to contractor payouts and taxes. Plus, our simple-to-understand pricing means fewer fees and FX surprises.
- Send global payouts to 210+ countries and territories.
- Save time with self-service vendor onboarding.
- Built-in identity verification, KYC, and fraud prevention.
- Automatic contractor tax management and filing for the US and EU.
- Sync data with your ERP and other tools.
- An all-in-one toolkit of enterprise-grade features and volume-based advantages.
More tax-related content to explore
Nov 2023 Update: 1099-K, ID Verification, Migration Toolkit, & more
Tax Break – Volume 002: Finding a Trusted Tax Compliance Partner
