It’s been quite a week at Sovos. Hours after announcing Sovos’ intent to acquire Foriba, expanding our geographic footprint into Turkey and bringing together the
The Treasury Inspector General for Tax Administration (TIGTA) reported results of a recent audit of the IRS internal controls in place to ensure that the
After four separate letters from members of Congress urging the agency to release clarification on cryptocurrency taxes, IRS Commissioner Charles Rettig finally responded to Representative
There has been a lot of attention paid to “gig” economy workers lately, and that includes some scrutiny by state and federal tax authorities. The
Background Generally, under Internal Revenue Code 3406(a)(1)(A), when a payer of US source income fails to collect a US tax identification number (TIN) in the
For the second time in less than a year, members of Congress have sent a letter to the IRS imploring the agency to provide guidance
Some organizations might have been surprised recently to receive a correction letter from the Social Security Administration (SSA) requesting corrected information on Form W-2 due
Tax Year 2018 brought important and likely unwelcome changes for organizations filing Forms 1099. At the same time the IRS eliminated the 30-day extension of
In a recent presentation at the American Payroll Association’s Capital Summit in Washington D.C., IRS Director of Examination Operations and Specialty Tax Daniel Lauer announced
The demographics don’t lie: Reporting for form 1099-R is only going to grow more difficult as baby boomers retire. The form used to report distributions
With the NCAA basketball tournament approaching, the US is gearing up for its biggest gambling weeks of the year. And while most “March Madness” pools
The Treasury Inspector General for Tax Administration (TIGTA) recently released a report making some significant recommendations to the IRS to improve taxpayer compliance in the
It shouldn’t come as a surprise that the volume of returns received and processed by the IRS is down this filing season compared to last
The rise of the so-called “gig economy” in the US has exploded in the last few years – last year, the Bureau of Labor &
Note: Sovos attended a series of Insurance Accounting and Systems Association (IASA) events in 2018. What follows are some observations from speaking with attendees at
UPDATE (Jan. 8): Reporting season is moving forward according to plan. The IRS has announced that it will process tax returns on schedule and without
2018 was a volatile year in indirect tax compliance for tax, finance and IT professionals worldwide. With an increase in globalization and tax gaps surpassing
Season for Tax Year 2018 has arrived, meaning tax professionals will have to carry out reporting while keeping in mind all the regulatory and policy