E-File Magic vs Stripe Connect

E-File Magic provides online services for preparing, e-filing, e-delivering and generating PDF copies of tax forms. Supported forms include 1098, 1099, 1099-NEC, 3921, 3922, 1042-S, 1097, W-2G and W-9. It files with the IRS through a combined federal/state program that the company says covers both requirements for most states, and correction filing is supported. Filers can attempt electronic delivery to recipients with valid email addresses and check when recipients download encrypted PDFs. Import options include an Excel template, QuickBooks export, QuickBooks Online integration and Xero. Users can create PDFs, print forms themselves or select optional Print & Mail; optional Bulk TIN Matching reports mismatches between recipient names and Tax IDs. The company describes regular SOC 2 audits, encryption for core filer and recipient fields, and optional authenticator-app multi-factor authentication. Accounts can include multiple users, filers and recipients. Cloud software has no licensing fee until the first order, but exact prices depend on selected services and appear during order submission. A free trial is available, but there is no free plan. The service lists web and Windows platforms; the QuickBooks Desktop export tool is Windows-only.

Stripe Connect embeds payments in software platforms and marketplaces and coordinates money movement among multiple parties. Platforms can choose Stripe-hosted, embedded, or custom onboarding, including identity verification and networked onboarding for existing Stripe users. Connect supports payments in 135+ currencies and 40+ payment methods across online, mobile, subscription, invoicing, and point-of-sale flows. Platforms can split payments, route funds across borders, control payout timing, and offer instant payouts. Prebuilt connected-account dashboards include controls for payments, payouts, settings, notifications, and payment methods. Risk and compliance features include KYC and AML checks, sanctions screening, MATCH list checks, and fraud management. Connect can automatically generate US 1099 forms; e-filing and delivery fees vary by pricing model. Its listed security features include PCI DSS Level 1 certification and PSD2 Strong Customer Authentication compliance. Pricing may involve no platform fees when Stripe handles user pricing, or $2 per monthly active account plus 0.25% + 25¢ per payout sent; other usage fees may apply.