Now, customers/fintechs can use the endpoint POST /account/:account_id/tax_document **** to generate 1099s on demand

  • Customers/Fintechs can generate a 1099 via this endpoint as long as a 1099 doesn’t already exist for the account.
  • If a 1099 does exist for the account, customers/fintech can either delete the existing 1099 via the PATCH or DELETE endpoint (if the 1099 has not yet been filed).
  • They can also create a corrected 1099 using the is_correction flag (if the 1099 has already been filed).

If a change is needed for the tax document, customers/fintechs can use the PATCH /account/:account_id/tax_document/:id to make the necessary update

  • The PATCH endpoint would allow users to update the status of the 1099 under certain conditions.
  • If the status of the 1099 is ready_for_filing the user could PATCH the status to filing to trigger filing of the 1099.
  • We would trigger the filing of the 1099 and return the entry in filing status.
  • We’ll update the status to filed once the filing is completed.

Additional endpoints DELETE /account/:account_id/tax_document/:id and GET /account/:account_id/tax_document/:id are available for use.

For DELETE /account/:account_id/tax_document/:id

  • If the 1099’s status is pending or ready_for_filing, we’d use this endpoint to allow deletion of the 1099.
  • At this time, the 3rd party provider doesn’t allow changes to unfilled 1099s; instead, customers/fintechs will need to delete the 1099s they want to change and create a new one.
  • When this endpoint is used, we’ll delete the associated 1099 and set the status to deleted.

For GET /account/:account_id/tax_document/:id

  • Similarly, we’ve added a GET /account/:account_id/tax_document endpoint that returns the 1099s generated for an account.