Tax & Compliance made uncomplicated

W8, W9, 1099, 1099K and 1042 forms, all in one tax solution.

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Supported tax forms

Payoneer covers all your tax needs with a wide range of supported tax forms for you and your payees.

For individuals

W-9, W-8BEN, W-8ECI

For companies

W-9, W-8BEN-E, W-8ECI, 1099, 1099K, 1099-Misc, 1042, 1042-S

The big wins

Admin

One vendor for all your tax needs eliminates multiple contracts and integrations – and guarantees a complete audit trail.​

Simplicity

A single tax-and-payout solution that can reach payees with different currencies and payout options.

Automation

Reminders, event triggers, and withholding calculations all completed without input from your team. ​

Speed

Reduced errors and mass approvals of payments.​

Form collection


  • Powered by Payoneer Tax Portal
  • Payees choose a form according to their tax classification
  • Payoneers Wizard tool helps payees choose the right form to complete
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Compliance and reporting


  • If validation is unsuccessful, user is asked to re-enter their TIN
  • Payoneer automatically confirms match between Tax ID Number (TIN) and name in IRS Database.
  • Complete with TIN validation
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Approval & Submission


  • Mass approval and submission of 1099, 1099K & 1042 tax forms
  • Once all details have been approved, Payoneer submits forms to the IRS
  • Payees receive a copy via email, and clients via SFTP
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Global mass payouts

Payoneer is the only platform to offer global payouts with a full tax stack for royalty payments.

Global payments that feel local

Simple payouts in 70 currencies + 190 countries
Localized teams to handle communications with payees.

Flexible payments for payees

Bank transfer, digital wallet or Payoneer Account.

No manual calculations

Forget withholding calculations. We take care of individual countries’ tax treaties.

Frequently asked questions

What is a W8 form?

A W8 form is issued by the United States’ Internal Revenue Service (IRS). It is completed by non-US residents and non-US corporations who have received a source of US-based income. The form certifies an individual’s overseas status. By completing a W8 form, a payee avoids or reduces the tax withholding applied to their US based income.

What is a W9 form?

A W9 form gathers identifying information, such as the name, address, and Taxpayer Identification Number, for payments made by US businesses to US residents. A W9 form is completed by a payee. A completed W9 can help a payee to avoid backup withholding taxes. Without a completed W9, a payer may be forced to collect withholding taxes.

What is a 1042 form?

A 1042 form is filed to the IRS to report the tax withheld on certain US-based incomes of foreign nationals.

A 1042-S form is also issued by and submitted to the IRS. If you pay a US source of income to foreign payees, you must submit a completed 1042 and 1042-S form for every overseas payee you have paid. Each 1042-S form details the amount of US income you have paid to a particular foreign national. Typical payments reported on a 1042-S include royalties, dividends, real estate income, pension income, scholarships, gambling winnings, interest, grants, prize money, and insurance premiums.

What is a 1099 form?

A 1099-MISC or 1099-NEC form is used to record specific payment types totalling more than $600 made to a US resident in any given tax year. Salaries, wages, and tips are not subject to a 1099 form. Instead, a 1099 form covers income from areas such as interest, dividends, rental property income, sales proceeds, and payment to independent contractors. If you pay a US resident more than $600 in a financial year, and they are not part of your payroll, then it is likely you will need to complete a 1099 form to record this information for the IRS.

What is a 1099-K form?

A 1099-K form is similar to a 1099 form. It is to record specific payment types totalling more than $600 made to a US resident in any given tax year. The key difference between 1099-K, 1099 and 1099MISC is that 1099K is designed to cover payment card transactions or a third-party network transaction:

“Payment card transaction” means any transaction in which a payment card—or any account number or other identifying data associated with a payment card—is accepted as payment.

“Third-party network transaction” means any transaction settled through a third-party payment network—but only after the total exceeds the above thresholds.

Why would we choose to use Payoneer’s tax services solution?

Our tax services solution is one of the most comprehensive on the market. By including 1042 forms, we have provided a significant advantage to US-based businesses that are regularly paying digital royalties to non-US-based creators. Our solution removes the burden, time, and cost of manual form filling. It also provides accurate withholding calculations for every payee. And it enables you to help your payees to be compliant with IRS regulations throughout the financial year.

What will our payees see?

Your payees will receive emails prompting them to complete the relevant form for their needs. Each of those emails is automated and can be branded with your company logo and colors.

Can we track the submission statuses of our payees?

Yes. You can see which payees have completed, started, or not yet started their submission process.

Are the completed forms archived?

Yes. All completed W-, 1042 and 1099 forms are stored securely, so you will always be able to respond quickly in the event of an IRS audit.

Can Payoneer provide assistance with completing the forms?

We can explain how to technically fill out a W- form using our tax services solution, but we cannot advise on the specifics of what information to enter (this would fall under ‘tax advice’). Instead, you should seek advice from a certified tax professional or the IRS.

Do you provide instructions on which forms to complete?

A tax wizard questionnaire offers guidance for payees to choose and complete relevant forms. However, we do not and cannot offer specific advice about what information to include in any form. Please seek professional advice where necessary.

How does the Payoneer tax services solution work?

When you sign up with Payoneer’s tax services solution, you provide the contact details of your payees. From there:

1. Your payee receives an email asking them to complete the relevant W- form.

2. Their submitted information is collected by Payoneer, stored securely, and then passed on to a third party that makes a precise withholding calculation for each payee.

3. All withholding payments per payee are then aggregated and automatically fed into a 1042 or 1099 form, which you can review before submitting it to the IRS.

I made a mistake on my form. How do I fix this?

Our 24/7 support teams are always on hand to help. If you have made a mistake on your tax form, please contact us for assistance.

About Payoneer


Payoneer is the world’s go-to partner for digital commerce, everywhere. From borderless payments to boundless growth, Payoneer promises any business, in any market, the technology, connections and confidence to participate and flourish in the new global economy. Powering growth for customers ranging from aspiring entrepreneurs in emerging markets to the world’s leading digital brands, Payoneer offers a universe of opportunities, open to you.

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