Tipalti Adds Tax Documents to Payments Tech
Global payments platform Tipalti has launched a comprehensive W-8 tool to facilitate the tax filing process for firms with foreign or undocumented service providers.
Integrated on Tipalti’s platform, the new tool starts out by selecting the W-8 collection paperwork required in each individual scenario.
It then verifies that the SSN and EIN numbers inputed match the IRS’s database, produces tax withholding instructions and automatically adjusts to filing requirement changes through its cloud-based system.
The W-8 tool has been reviewed by KPMG and found to be IRS-compliant, the company stated in a Tuesday press release.
"Our new W-8 capability dramatically simplifies the process of managing and paying overseas suppliers, while ensuring compliance with the constantly changing tax and regulatory requirements,” said Tipalti CEO Chen Amit in the release.
Tipalti offers management services for mass payments, which usually includes a network of freelancers or contractors that are located in different jurisdiction. The services include processing and compliance, including tax documentation. It also offers advertising payments.