Blog

Sovos Sponsors TSAM 2017; An International Conference Aimed at Asset Managers

March 3, 2017, 3:16 pm EDT in AEOI Reporting, Blog

Sovos is sponsoring TSAM 2017, one of the world’s leading networking events for the asset management industry, which takes place in London on March 15th.The global asset management community will gather in London on March 15th to take part in TSAM 2017, a leading industry networking event. Over 500 delegates...

Congress considers options for the Affordable Care Act, ACA

ACA Update: Leaked Republican Legislation Would Phase Out Key Provisions

March 1, 2017, 3:33 pm EDT in Affordable Care Act, Blog

Recently leaked draft legislation provides further insight into Republican plans for healthcare overhaul and associated reporting requirements. The draft, which is nearly three weeks old, indicates key provisions of the law – such as the taxes, mandates, Medicaid expansion and subsidies – would be phased out and replaced between 2018...

Salt Lake City Utah

Sales Tax Legislation in Wyoming and Utah – Has Nexus Reached Its Tipping Point?

February 27, 2017, 12:00 pm EDT in Blog, Enterprise Sales Tax

Proposed bills and rules around nexus are being discussed and debated in state capitals across the country.The evolution of ecommerce continues to place pressure on the nexus standard. As states search for avenues to collect and remit tax, businesses face expanded sales tax compliance responsibilities.With recent proposed legislation, both Utah...

Automatic Exchange of Information (AEOI) Updates

AEOI Updates: Feb. 4 – Feb. 22

February 24, 2017, 9:22 am EDT in AEOI Reporting, Blog

Automatic Exchange of Information (AEOI) legislation is constantly evolving worldwide as the standard is rolled out around the world. The Sovos research team continually monitors new regulations and updates across the globe and publishes them in our Taxport Compass tool. Here are some important changes that occurred in recent weeks: Ukraine...

Top 5 Filing Challenges: Webinar recap and attendee responses

Top 5 Filing Challenges: Webinar Recap and Attendee Responses

February 23, 2017, 4:20 pm EDT in Blog, Enterprise Sales Tax

In our most recent Tax Tuesday webinar, Ashley Brody and I took a hard look at the most common filing challenges facing today’s manufacturers.  We described the trends that we hear about every day from tax professionals and recommended some best practices for staying on top of rapidly changing filing...

Spain Launches Real-Time Transactional E-Invoice Reporting Standards

Spain Launches Real-Time Transactional E-Invoice Reporting Standards

February 23, 2017, 12:00 pm EDT in Blog, Value-Added Tax

60,000 companies required to implement new e-invoice reporting standard. With recent reports highlighting European Union members’ struggle with uncollected VAT, countries are focusing on initiatives that will reduce fraud and increase tax revenues. Spain, in particular, is taking a page from Latin America’s electronic invoice registration playbook. On December 6, 2016,...

ACA reporting update

ACA Update: IRS Tweak to Individual Reporting – What It Means

February 16, 2017, 3:06 pm EDT in Affordable Care Act, Blog

Employers are still required to file their ACA reporting forms. Beyond a potential extension of “good faith” relief to Tax Year 2017 filings, there will likely not be any IRS changes to employers’ reporting obligations.The IRS has implemented its first regulatory change in response to President Trump’s executive order. The...

Milwaukee County, Wisconsin applies exposition tax to prepared foods.

Wisconsin’s Milwaukee County Applies “Exposition Tax” on Prepared Food

February 10, 2017, 12:00 pm EDT in Blog, Enterprise Sales Tax

The City of Milwaukee created the “Wisconsin Center Tax District” for the purpose of acquiring and managing exposition center facilities. This local exposition district adopted several taxes to fund these facilities.Some examples of the newly-imposed taxes include a 0.5 percent food and beverage tax, a 2.5 percent basic room...