Blog

Why the Market is Ready for the Sovos Compliance Cloud

The emergence of digital transformation fundamentally changed how many governments and tax authorities around the world handle modern tax and compliance. What is unique about this process is that each individual government operates under its own set of rules, and global businesses are expected to keep up. In their efforts to address compliance, ironically, many […]

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ACA Reporting Deadlines and More for Tax Year 2023

Affordable Care Act (ACA) reporting has started for tax year 2023. ACA reporting can quickly become complicated and costly with IRS penalties if your business does not have an efficient process in place. Although regulations have generally stayed the same for this reporting season, there are some important updates all businesses should be aware of […]

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Consequences of Non-Compliance with Unclaimed Property Laws

Building and maintaining a program to ensure compliance with the ever-changing unclaimed property laws is challenging, costly and time consuming. As a result, many companies put off or delay coming into compliance or do not put enough resources into creating a robust program. Those delays, erratic reporting and even ignorance that unclaimed property laws exist […]

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Most Popular Wine Varietals Shipped in 2023 and More

Last month, Sovos ShipCompliant and WineBusiness Analytics released the 2024 Direct-to-Consumer Wine Shipping Report, marking the fourteenth consecutive collaboration between the two companies. Alex Koral and Andrew Adams presented an overview of the data and analysis from the report, highlighting key trends and statistics. Here, we summarize some of the noteworthy findings starting with the […]

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Liechtenstein IPT: An Overview

Liechtenstein is one of many countries with Insurance Premium Tax (IPT) requirements, specifically the Swiss Stamp Duty and Liechtenstein Insurance Levy. This blog provides an overview of IPT in Liechtenstein to help insurance companies remain compliant.   What kind of taxes are applicable in Liechtenstein on insurance premium amounts? In Liechtenstein, there are two types […]

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5 Things to Expect at the 2024 UPPO Annual Conference

The unclaimed property (UP) community will convene in Las Vegas starting Sunday, March 10 for the 2024 Unclaimed Property Professionals Organization (UPPO) Annual Conference. Running until Wednesday, March 13, approximately 600 people will descend upon the Planet Hollywood hotel for three and a half days of learning, networking and sharing of ideas. According to UPPO, […]

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Top Takeaways: 2024 DtC Wine Shipping Report

Sovos ShipCompliant recently released the 2024 Direct-to-Consumer (DtC) Wine Shipping Report with our partner, WineBusiness Analytics. This look-back at 2023 is the most comprehensive, complete and exclusive collection of data and insights on the state of the DtC channel. While DtC wine shipments saw a decline in volume for the second year in a row, […]

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Turning Headwinds into Tailwinds at DTCWS

I had the pleasure and privilege of attending the 2024 Direct to Consumer (DTC) Wine Symposium (DTCWS) to speak on the past and future of the direct-to-consumer (DtC) shipping market. As an annual event, DTCWS provides our industry with a regular opportunity to reflect on market conditions and connect on ways we can all help build […]

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Why CFOs Place Value in Tax Technology

In the dynamic landscape of finance, Chief Financial Officers (CFOs) play a pivotal role in steering their companies towards success. One crucial aspect of their responsibilities is tax compliance, and in a recent survey, we delved into how CFOs perceive and leverage tax technology. The survey revealed valuable insights into how companies manage tax compliance, […]

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Delaware Announces 2024 VDA Invitation Dates

Delaware’s Secretary of State (SOS) recently advised that they plan to send invitations to companies to participate in the Delaware Voluntary Disclosure Agreement (VDA) program on February 23, 2024, and July 26, 2024. In the event that a company receives an invitation to participate in the VDA program and is interested in taking advantage of […]

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4 Key Takeaways on Recent Form W-8 and Form W-9 Changes

Last year, Sovos and Comply Exchange held a customer roundtable discussion on recent Form W-8 and Form W-9 changes. Here are some of the top points that participants brought up during the roundtable. Decentralized organization challenges  In the realm of decentralized organizations, a recurring issue emerged – tax reporting departments often unearth problems with Form […]

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Top 5 Unclaimed Property Audit Red Flags

Sovos often faces the question: “What triggers an audit from the States regarding unclaimed property compliance?” While each case is unique, there are common situations that can increase the likelihood of an audit. In this blog, we explore these triggers and provide insights on how companies can navigate the complexities of unclaimed property compliance. Here […]

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Prepare for Annual Statement Season with Sovos Education Services

As we approach annual statement season, join us at Sovos Education for one of our refresher or short courses to get up to speed on preparation. Each of these classes are bite-sized at just one to two hours in length. Starting the first week of December, we began our mini P&C annual statement preparation courses […]

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A Comprehensive Guide to 2023 IRS Reporting Updates

In the world of ever-evolving regulation changes, staying informed is crucial for businesses to achieve complete compliance in their tax information reporting processes. In 2023, the IRS rolled out significant updates that businesses need to be aware of ahead of filing season. We have summarized the most impactful changes you need to know about for […]

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Sovos Acquires Aatrix, Extends Leadership in e-Filing for 1099, ACA 1095 and W2/payroll Reporting

Sovos announced today that we have acquired North Dakota-based Aatrix Software. This marks another significant milestone in Sovos’ strategic mission of adding complementary companies, services and technology to our portfolio when and where it makes sense to do so. Not only does Aatrix complement and strengthen our current leadership in e-Filing for 1099 and ACA […]

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Does the Illinois PetMeds Case Threaten Economic Nexus?

Ever since Louisiana eliminated its economic nexus transaction count threshold and rendered the Halstead Bead challenge to its remote collection requirements moot, the sales tax community has been anticipating whether any new litigation would spring up. Indeed, it has. This newest case was recently filed in the Illinois Independent Tax Tribunal by PetMeds Express. This […]

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Two Potential DtC Shipping Rule Changes We’re Tracking for 2024

2024 has not yet begun but there are some potential upcoming regulatory changes affecting the direct-to-consumer (DtC) wine shipping market that we’re already tracking. The first is Wisconsin SB 268, a major overhaul of the state’s beverage alcohol laws. Since the bill was signed by the governor earlier this month, the question is not so […]

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It’s About Time – What Vertex Acquiring Pagero Means for Tax & Compliance

Like many of you, I read the news that Vertex had officially moved forward with plans to acquire Pagero with interest. This hardly comes as a surprise. These two companies already had a commercial relationship and since their October public announcement of a strategic partnership, a number of industry insiders and pundits predicted this would […]

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