Introduction Tax information reporting and withholding at the state level is often a complex undertaking for organizations to manage. With 43 states now requiring income
Ron Quaranta is founder and chairman of Wall Street Blockchain Alliance, the world’s leading non-profit trade association promoting the comprehensive adoption of blockchain technology and
The IRS released long-awaited guidance on cryptocurrency tax regulations this week, but the agency did little to clarify tax reporting policy. The guidance, the first
Michael Chittenden and Michael Lloyd, or Mike & Mike, specialize in helping companies deal with all sorts of tax issues, including tax reporting. They will
Many organizations are choosing to say “so-long” to manual withholding processes to gain operational efficiencies allowing finance and accounting teams to focus on business critical
Caroline Bruckner is the managing director of the Kogod Tax Policy Center at the Kogod School of Business at American University in Washington, DC. She
The threshold for reporting income on Form 1099-K is increasingly proving to be too high for reducing the tax gap at both state and federal
The House this week passed a bill that could lead to an increase in 1099 reporting volume for financial institutions. The Secure and Fair Enforcement
The tax information reporting event of the year is coming in October! Sovos will present the 2019 GCS Intelligent Reporting Summit in San Antonio Oct.
California Governor Gavin Newsom is poised to sign into law a bill that would recategorize gig economy workers such as ride-share drivers from being independent
With unemployment low and productivity high, the US economy appears to be steaming along. But one key metric suggests otherwise: the yield curve is inverted,
The IRS sent letters to more than 10,000 cryptocurrency holders last week, educating them about their income tax obligations associated with cryptocurrency transactions. The IRS
At the Nationwide Tax Forums in Chicago last week, the IRS communicated details about the first wave of backup withholding penalty notices that payers should
In a monumental moment for tax reporting professionals, the IRS has released a draft of Form 1099-NEC, the form that will eventually replace Form 1099-MISC
Despite IRS Commissioner Charles Rettig’s promise of “within the next 30 days” more than 30 days ago to Congress regarding the release of forthcoming cryptocurrency
At last, the IRS is allowing payers to truncate, or effectively mask, tax identification numbers (TINs) on Forms W-2 sent to payees. The decision comes
The IRS has released a draft version of the new 2020 Form W-4, Employee’s Withholding Allowance Certificate. It represents the most sweeping changes to this
For the second time in the last month, the IRS has alluded to forthcoming guidance related to cryptocurrency and digital asset transactions. IRS Commissioner Charles