Abound’s API programmatically generates the forms and documents listed below, while also considering a UserUser - A single end-user of your application. Each user has a unique userId, which should be stored in your database and used to make API requests on behalf of this individual.’s and PayerPayer - An entity that makes payments for: services performed by independent contractors (1099-NEC), interest on a business debt (1099-INT), and payment card transactions settled on behalf of merchants (1099-K).’s requirements by jurisdiction.

Tax Forms

  • W-9. Payers are required to provide an independent contractor this form in order to collect contact information, a TIN, withholding status and citizenship information. A W-9 form or substitute is a prerequisite for 1099 forms.
  • 1099 Forms. Payers issue 1099 forms for independent contractor to report gross income types including nonemployment, rental, interest and dividends and other sources to the IRS and to a state authority, where applicable. Additionally a user reports 1099 values on a Schedule C document.

Tax Documents

  • 1040-ES and State Voucher. Independent contractors make estimated tax payments to the IRS and to a state, where appropriate, with a 1040-ES and local equivalent.
  • Schedule C. Independent contractors report annual profit and loss on a Schedule C. Abound’s API generates this document, which is subsequently used in annual tax filing.

Financial Documents

  • Itemized expenses. Abound provides itemized expenses as a downloadable .csv file that contains all of the user's previously recorded deductible business expenses, along with their corresponding tax categories and deduction values.
  • Account statements. Financial institutions and fintechs can issue brand-specific account statements including all fields as required by law. Abound offers access to each statement for at least five years in order to remain compliant with the OCCOCC - Office of the Comptroller of the Currency's record-keeping requirements.

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