Abound's Tax Payments API handles the non-reversible quarterly estimated tax payments submitted to the IRS. Unlike single, annual payments for W-2 employees, quarterly estimated payments are required for all 1099 income earners.

Below are the Tax Payments object's fields and descriptions:

FieldDescription
taxPaymentIdThe unique id generated by Abound API. Store this value in your database.
yearThe tax year associated with this tax payment
periodThe tax period associated with this tax payment:
Q1,Q2, Q3, or Q4
statusThe status of the payment. Statuses include: created,pending,cancelled,error,done
amountThe amount of tax paid to the corresponding entity
paymentMethodIdThe payment method associated with this tax payment
createdDateThe date the payment was created with the Abound API
notesThe notes associated with this tax payment
foreignId(Optional) The customer-specific unique identifier associated with this tax payment.