Payouts & taxes

Go to Sell → Set up payouts. We hand you off to Stripe's hosted onboarding (the same flow Lyft, DoorDash, Etsy and Substack sellers use). You'll verify your identity, link a US bank account, and confirm tax info. WaxDepot never sees your full SSN or bank credentials — Stripe handles all of that. Verification typically completes in 2-5 minutes; you'll see a green "Stripe is connected" card on /sell/payouts when you're ready.

Stripe, not WaxDepot, issues your Form 1099-K, for any year your sales meet the IRS reporting threshold for that year. The threshold has changed more than once, so check Stripe's tax documentation or IRS.gov for the current figure rather than a number quoted here. Your tax details live in your Stripe account: Sell → Set up payouts → Open Stripe dashboard. You're responsible for reporting and paying tax on your sales.

From your Payouts dashboard (Sell → Set up payouts), click Open Stripe dashboard. You'll be sent into Stripe's hosted account-management UI where you can update your linked bank account. New accounts may need 2-3 business days to verify before payouts resume.