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Streamlining Accounts Payable Internal Controls with Audit Accuracy

If you’re interested in improving your accounts payable internal controls while streamlining your use tax self-assessment process, look no further than Sovos Use Tax Manager. Many companies have begun digital transformations to automate their procure-to-pay processes, moving away from paper invoicing. Regardless of how they are managing the process today, automation is still not enough. […]

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Sovos Announces Cloud Solution to Improve Accuracy of Use Tax Payments on Purchases

Sovos Use Tax Manager enables organizations to reduce the risks and costs associated in notoriously error-prone use tax management processes March 5, 2018, LAS VEGAS [SAP Ariba Live] — Sovos, a global leader in tax compliance and regulatory reporting software, today announced Sovos Use Tax Manager, a cloud-based solution that automates use tax determination reconciliation […]

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Sovos to Exhibit at SAP Ariba Live – Las Vegas

The Sovos team is looking forward to meeting procurement leaders at SAP Ariba Live in Las Vegas, March 5-7. Procure-to-Pay Tax Compliance Challenges Remain We’ve been gathering insights from the Americas’ SAP Users’ Group (ASUG) into the challenges tax compliance, procurement, finance & accounting, and IT are having regarding incorrect sales tax charges and/or use […]

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Vermont Withdraws from Combined Federal/State Filing Program for 1099s

Organizations reporting tax information to Vermont might have been surprised to find that the state is no longer part of the Combined Federal/State Filing (CF/SF) program for form 1099. Previously, organizations could report 1099 information to the IRS, and the IRS would send that information directly to the department of revenue in Vermont. The reporting […]

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Sales and Use Tax Trends 2018 – A Shifting Landscape Webinar Recap

For corporate tax professionals concerned with 2018 tax trends and maintaining sales and use tax compliance with the numerous changes in the tax compliance landscape in the U.S. this past year – as well as those emerging on the horizon, – our Webinar, “U.S. Sales and Use Tax Trends 2018 – A Shifting Landscape,” was […]

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South Dakota Nexus Rule Unique Facts – Video Insights via Chuck TV

Charles Maniace, Director of Regulatory Analysis, Sovos, discusses the unique facts surrounding the South Dakota nexus rule given the Supreme Court decided to revisit the 1992 Quill v North Dakota case (that limits a states’ tax authority over online sales based on physical presence or nexus in-state) based on a law adopted in South Dakota. […]

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Implications on Business if Quill Doctrine Overturned – Video Insights via Chuck TV

Charles Maniace, Director of Regulatory Analysis, Sovos, discusses what it would mean for businesses if the Supreme Court decided to overturn the 1992 Quill v North Dakota case that limits a states’ tax authority over online sales based on physical presence or nexus in-state. Chuck TV – Episode III   Episode IV – Quill v North […]

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Supreme Court Revisits Online Sales Nexus – Video Insights via Chuck TV

Charles Maniace, Director of Regulatory Analysis, Sovos, discusses what it means to you that the Supreme Court decided to revisit the 1992 Quill v North Dakota case that limits a states’ tax authority over online sales based on physical presence or nexus in-state. Chuck TV – Episode I   Check out Episode II – South […]

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Quill v North Dakota Revisited – Manufacturing Implications via Chuck TV

Charles Maniace, Director of Regulatory Analysis, Sovos, discusses what it would mean for manufacturers if the Supreme Court decided to overturn the 1992 Quill v North Dakota case that limits a states’ tax authority over online sales based on physical presence or nexus in-state. Chuck TV – Episode IV   Episode V – “Cookie Nexus” Impact […]

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“Cookie Nexus” Impact on Quill v North Dakota Case – Chuck TV

Charles Maniace, Director of Regulatory Analysis, Sovos, discusses how the recent “cookie rule” could impact the Supreme Court who decided to revisit the 1992 Quill v North Dakota case that limits a states’ tax authority over online sales based on physical presence or nexus in-state. Chuck TV – Episode V   Episode I – Supreme […]

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Lower 1099-K Reporting Thresholds Rake in Money for States, Surprise Businesses and Put Companies on Notice

The 1099-K reporting threshold changes enacted in Massachusetts and Vermont have started to have repercussions for states, online businesses and companies doing tax reporting. In conflict with IRS requirements, Massachusetts and Vermont changed the threshold for reporting 1099-K transactions from $20,000 and 200 transactions to just $600 with no minimum number of transactions. These transactions […]

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7 Reasons to Automate the Tax Exemption Certificate Process

Tax exemption certificate processes are often a significant, arduous challenge for many larger manufacturers and wholesalers that still manage certificates in a manual and time-consuming manner. This often results in missing, lost or outdated certificates that can lead to significant audit risk. Auditors know this and generally, tax exemption certificate processes are the first and […]

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How Does a Government Shutdown Affect Reporting Season?

On Jan. 20, the federal government shut down right in the middle of tax reporting season. The brief shutdown, likely to be resolved by Jan. 23, offered some insight into what happens when the IRS loses funding during reporting season. While the latest shutdown will likely be short, another could loom, as the proposed funding […]

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Supreme Court to Decide Fate of Sales Tax in the Digital Age

In a move that seemed inevitable since the first dot-com sale was completed, on January 12, the United States Supreme Court agreed to hear a case through which they will re-consider the primacy of “physical presence” in determining a sellers’ obligation to collect and remit sales tax across the country. Businesses need to immediately begin […]

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New Tax Law Sneaks in Change in Backup Withholding Rate

The newly implemented Tax Cuts and Jobs Act, better known as the new tax law, dropped the backup withholding rate for payments reported on form 1099 from 28 percent to 24 percent effective Jan. 1, although many organizations might not have noticed. The IRS announced the withholding adjustment in Notice 1036 in early January. The […]

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Mortgage Insurance Premium Deduction Confusion Illustrates Hassle of 10-Series Reporting

One box on IRS form 1098 has the potential to cause confusion for organizations this tax filing season, demonstrating how frustrating staying compliant with 10-series reporting requirements can be. The Mortgage Insurance Premium (MIP) deduction allows taxpayers to deduct mortgage insurance they paid in a given year. However, Congress has not yet passed a provision […]

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ACA Update: Reporting Requirements Remain in Place

The end of 2017 brought a flurry of activity around the ACA, some of which generated confusion. Despite statements to the contrary, the ACA is still the law of the land, and employers are still required to report ACA information to the IRS or face financial penalties. Here is an update on the state of […]

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Combined Tax Reform Bill Still Maintains ACA Reporting Requirements

As expected, the combined tax bill that recently passed both the House and Senate does not eliminate the employer mandate to provide health insurance, nor does it change Affordable Care Act reporting requirements for eligible organizations. President Trump is likely to sign this version of the bill into law. It does eliminate the individual mandate […]

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