July 26, 2017Blog Posts

Stripe buys tax reporting outfit Payable

Finextra:

We’re excited to announce that Stripe has acquired Payable to help make it easier for platforms and marketplaces on Stripe Connect to meet their tax reporting obligations worldwide. Multi-sided platforms around the world are using Stripe Connect to accept money, pay it out to third parties, and eliminate all the complexity that’s typically involved. One traditional pain point is tax reporting: as a marketplace, you’re often providing taxable income to participants of your marketplace, which must be reported to the IRS or other tax authorities. We heard from our users that accurately generating, delivering, and filing tax forms for as many as hundreds of thousands of vendors, contractors, and partners in multiple countries was a consistent difficulty and something they’d like to see fixed.

Source

  • Share this post: