Innovation

Stripe Launches Tool To Help Founders File Tax Returns In Minutes

Stripe has announced an addition to its Stripe Atlas toolkit that will help founders file their corporate tax returns in minutes.

This new tool can be especially important for resource-strapped startups, which often have difficulty with the tax process even with the help of an adviser. In fact, 54 percent of Atlas founders reported making a mistake when filing last year’s returns, including paying the incorrect amount, filing late or missing required filings entirely.

In addition, the recent U.S. tax reform bill could make the process even harder and more confusing. Most Atlas founders (60 percent) don’t currently know how the bill will affect their businesses.

On average, it takes founders weeks of time and thousands of dollars to successfully file a corporate tax return. The new Stripe tool can help founders save in both areas.

Users can simply log in to their Stripe dashboard to pay Delaware franchise tax by answering a couple questions about their company, entering their payment details (if they aren’t already on file) and instantly submitting their franchise tax and annual report.

Founders can also use the tool to pick a tax adviser from a list of startup-friendly firms and choose a discounted tax package that fits the size and stage of their business. They can also easily share data to their chosen tax adviser, as well as review and sign their corporate tax returns.

Within days, an accountant will email the completed tax return for approval before submitting it to the IRS.

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