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IRS FIRE System Sunset: What the IRIS Transition Means for Filers

The IRS has officially confirmed a plan to sunset the FIRE system, marking one of the most significant transformations in information return filing in decades. After serving as the backbone of electronic tax reporting since the 1980s, the Filing Information Returns Electronically (FIRE) system will be decommissioned in January 2027.  That means 2025 is the […]

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Maine state flag over vineyard
Maine Bottle Bill to Extend to DtC Wine Shipments in July

Effective July 1, 2025, all direct-to-consumer (DtC) shipments of wine into Maine must comply with the state’s beverage container redemption program, better known as a “bottle bill.”   While wine bottles sold in Maine retail stores have long been subject to these provisions, the state is extending the program to include DtC shipments from out-of-state […]

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Global E-archiving Compliance: The Essentials of E-invoice Storage

The digital business landscape is forever changing, yet one thing is certain: electronic archiving is more than a convenience – it’s a matter of compliance. As governments worldwide invest in digital tax transformation initiatives like e-invoicing and e-reporting, a complex web of e-archiving requirements that vary across borders is also developing. Understanding your e-archiving requirements […]

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states with no sales tax
The 5 U.S. States with No Sales Tax

In a country where sales tax is the norm, a handful of states stand out for going against the grain—they don’t impose any statewide sales tax at all. That’s right—no last-minute filings, no scrambling to collect and remit every month. At least, not for sales tax. But before you pack your headquarters and head for […]

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what is sales tax
What is Sales Tax? How it Works & Why It Matters

Uncover what sales tax is, how it works! This guide provides everything from rates and exemptions, to how it varies by location and product type.

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consolidation in the wholesaler tier
When the Middle Shrinks: What Consolidation in the Wholesaler Tier Means for the Entire Market

Discover how consolidation in the wholesaler tier impacts market access in the U.S. beverage alcohol industry and explore alternatives like direct-to-consumer shipping.

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unclaimed property laws
From Crypto to NFTs: The expanding scope of unclaimed property laws

Last month, a cross-functional group of Sovos unclaimed property experts—including folks from product development, product marketing, managed services, our general counsel’s office, and the consulting team—traveled to Tucson, Arizona to the Unclaimed Property Professional Organization’s annual conference. We spent the week diving deep into all things unclaimed property. There was one topic that kept coming […]

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Finance Leaders
The Changing Indirect Tax Landscape: How Finance Leaders Are Adapting

We recently partnered with StudioID on a global survey of 150 finance leaders to reveal significant insights into how companies are navigating the increasingly complex world of indirect tax compliance. The research, which included CFOs, EVPs/SVPs/VPs of Finance, and Finance Directors from companies with revenues ranging from $500 million to over $5 billion, provides a […]

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Mirror Visibility
Mirror Visibility™: The Future of Indirect Tax Compliance

We recently conducted a comprehensive survey of 150 finance leaders in partnership with studioID that sheds light on emerging strategies for managing tax compliance in an increasingly digital regulatory environment. The research, which included respondents from across financial services, manufacturing, technology, and other sectors, reveals how forward-thinking organizations are transforming their approach to indirect tax […]

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Arkansas DTC wine shipping
Arkansas Expands Access to DtC Wine Shipping with HB 1476

With the signature of Governor Sarah Huckabee-Sanders, Arkansas is set to enact House Bill 1476—ushering in long-awaited reforms to its direct-to-consumer (DtC) wine shipping laws. Until now, Arkansas only allowed DtC wine shipments when the consumer was physically present at the winery’s premises at the time of purchase, severely limiting the ability of Arkansas consumers […]

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Key Insights for 1099-DA Compliance
IRS Digital Asset (1099-DA) Reporting Roundtable: Key Insights for 2025 Compliance

Sovos recently participated in a roundtable discussion facilitated by the IRS regarding digital asset reporting requirements. This session provided valuable insights into the upcoming 2025 reporting landscape and clarified several critical points for digital asset businesses preparing for compliance.  IRS Position on 2025 Digital Asset Reporting Timeline Based on recent industry roundtable discussions with IRS […]

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CATNAT Regime
CATNAT Regime: Treatment of Natural Catastrophe Insurance in France

As some countries either introduce or consider introducing mandatory natural catastrophe insurance (e.g., Italy this year), France is ahead of the curve. This is because France already has a specific compensation scheme in place for coverage of property against natural disasters, and has had one since 1982. The importance of the scheme is clear, as […]

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Hungary tax penalty
Hungary: Tax Penalty Regime

Hungary’s tax penalty consequences of non-compliance with tax requirements are governed by the Act on Rules of Taxation. The law outlines a range of sanctions for non-compliance, including tax penalties, default penalties, late payment interest and self-revision fees. This blog will provide an overview of each sanction and summarize recent changes in this area. Types […]

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ViDA timeline
ViDA: The Timeline

VAT in the Digital Age (ViDA) aims to modernize and simplify the European VAT system. ViDA was officially adopted by the EU on 11 March 2025. The package took 27 months to be approved and adopted, with the initiative initially being proposed by the European Commission in 2022. The path to adoption included many versions […]

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national beer day
Hop to It: Lessons from Wine About DtC Shipping

From groceries to clothing, consumers expect convenience—and that includes how they purchase alcohol. While direct-to-consumer (DtC) shipping is widely available for wine, beer lags far behind, with legal shipping allowed in only 11 states and Washington, D.C. On National Beer Day, there’s no better time to highlight why beer trails behind in DtC access and […]

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The Rise of Pre-filled Returns in Greece

As governments worldwide continue to shift to Continuous Transaction Controls (CTC) systems, such as e-invoicing and real-time e-reporting, another trend organically unfolds as part of this move towards tax digitisation: pre-filled returns. With access to real-time transactional level data – and other types of data, such as payroll, inventory and other accounting data transmitted at […]

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expanding alcohol production
Beyond Beer: Legal Steps to Expanding Alcohol Production

Believe it or not, there’s more to life than beer. There’s wine, spirits, cider, kombucha, hard seltzers—even non-alcoholic products. But just because a brewery has mastered beer does not mean it’s ready to begin making and selling other types of alcoholic beverages. When a brewery moves to expand its offerings and enter new markets, new […]

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Electronic Receipt Regulations
Changes in Electronic Receipt Regulations in Costa Rica: What You Need to Know

Important changes in Costa Rica’s electronic receipt regulations have been introduced by the tax authority through the new mandate 44739-H. This new regulation, published on November 8, aims to modernize processes and ensure accuracy in electronic transactions across the country by introducing significant changes in the management of electronic receipts for tax purposes.  Main Changes […]

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