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:

Field

Description

taxPaymentId

The unique id generated by Abound API. Store this value in your database.

year

The tax year associated with this tax payment

period

The tax period associated with this tax payment:
Q1,Q2, Q3, or Q4

status

The status of the payment. Statuses include: created,pending,cancelled,error,done

amount

The amount of tax paid to the corresponding entity

entity

The government entity to submit tax payments towards on behalf of the user

paymentMethodId

The payment method associated with this tax payment

createdDate

The date the payment was created with the Abound API

notes

The notes associated with this tax payment

foreignId

(Optional) The customer-specific unique identifier associated with this tax payment.