Despite multiple repeal attempts, the Affordable Care Act (ACA) is alive and well. Employers still have to report ACA information or face increasing penalties. With ACA reporting still on HR professionals’ agenda, Sovos regulatory experts answer selected questions posed by viewers during a recent Society of Human Resources Management (SHRM) webinar. Their answers are here, […]
The current regulatory environment for manufacturers is laden with risk. In a recent Aberdeen Group survey, 50 percent of manufacturers indicated they saw a significant increase in audit scrutiny and frequency over the past two years, with another 60 percent believing audit frequency and scrutiny will continue to accelerate over the next three to five […]
The Affordable Care Act (ACA) is still the law of the land, having survived attempts to both repeal and replace the legislation. It now has real teeth, with the dollar amounts of financial penalties having doubled in recent years. Here is what HR professionals need to know to prepare for the upcoming filing season and […]
If you don’t know much about the dark web, you’re not alone. Maybe 5 percent of internet users are on it (at a stretch), but it’s anywhere from 6 to 500 times larger than the consumer web. And it can definitely affect your job as a tax professional. Anything and everything is for sale on […]
By Alex Koral, Sovos Industry Outreach Adviser This week begins the 2-month open application period for Sales Tax Amnesty. During this window, ecommerce sellers can apply to have more than 20 states waive back taxes, penalties and interest. In a live webinar earlier this week, James Thomson of the Prosper Show joined me to answer […]
Financial institutions are having to deal with a new set of challenges in tax information reporting. Cheryl Riedlinger, noted tax attorney and head of the Tax Reporting Group, recently identified three new headaches for tax professionals: Changes to IRS policy regarding W-8 forms, which are causing FIs to repaper their client bases New developments in […]
Financial services companies are now forced to tackle a new breed of 1099 reporting requirements for corporate clients. Federal and state governments are increasing audit frequency and requiring more detailed data, and new rules are putting companies’ reputations on the line. Tax leaders at financial services companies have bigger burdens on their shoulders these days, […]
It’s no surprise that the acceleration of regulatory complexity is increasing manufacturers’ risk of being negatively impacted by sales and use tax compliance in ways that can hinder their growth. See INFOGRAPHIC Below Manufacturers Burdened with Regulatory Complexity 2017 has been the year that manufacturers began moving from design and concept for cloud technologies, IoT […]
With the acquisition, Sovos adds eReceipts to its real-time tax reporting solution, expands its presence in Brazil and extends Latin American operations to Chile, Colombia and Peru. Wilmington, Mass. – Global tax compliance and reporting software leader Sovos announced today that it has acquired Chile-based Paperless to expand its real-time government reporting capabilities with electronic […]
Amidst questions coming out of last week’s Senate vote-a-rama, one thing is clear: Information reporting obligations for Applicable Large Employers and providers of health insurance coverage will remain in place for the foreseeable future. Congress and the Administration are divided on how to proceed after multiple health care bills failed last week in the Senate. […]
We’re excited to announce the acquisition of Paperless, which expands our real-time government reporting capabilities with electronic receipts and consumer point-of-sale tax reporting – and extends our presence in Latin America. Paperless, which is based in Santiago, Chile, is the world’s largest eReceipts and eDocuments company, processing more than two billion transactions last year across […]
Nos complace anunciar la adquisición de Paperless, que amplía nuestras capacidades de informes al gobierno en tiempo real con boletas electrónicas e informes fiscales de puntos de venta al consumidor y extiende nuestra presencia en América Latina. Paperless, con sede en Santiago, Chile, es la mayor compañía del mundo en facturas y documentos electrónicos, procesando […]
Temos prazer em anunciar a aquisição da Paperless, que amplia nossas capacidades de relatórios governamentais em tempo real com Cupom Fiscal Eletrônico eReceipts e relatórios fiscais de pontos de venda do consumidor, ampliando a nossa presença na América Latina. A Paperless, com sede em Santiago do Chile, no Chile, é a maior empresa no segmento […]
New numbers suggest the PATH Act deadline for filing W-2 and 1099-MISC forms is continuing to cause havoc for employers. The PATH Act, enacted in late 2015, moved the filing deadline from March 31 to Jan. 31. Filers are struggling to meet the new deadline and avoid financial penalties, which are attached to both late […]
With Senators Rand Paul and Susan Collins stating their opposition to the revised Better Care Reconciliation Act (BCRA) last week, Majority Leader Mitch McConnell could not afford to lose any more votes on the procedural vote to bring the bill to the Senate floor. Last night, Senators Mike Lee and Jerry Moran both announced that […]
Idahoans will still need to pay taxes on groceries following a recent decision by the state’s Supreme Court. The Idaho Legislature had passed a bill (House Bill 67) exempting groceries from sales tax, this bill was subsequently vetoed by the Governor. The Legislature mounted a legal challenge to the validity of the veto, stating it […]
The IRS has updated the instructions for Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals). There are a number of changes from the previous revision: Some minor updates made to Form W-8BEN to conform with Form W-8BEN-E. Instructions have been updated to reflect temporary and final […]
On Tuesday, the Senate passed a motion to proceed on health care by a vote of 51-50 with Vice President Pence casting the tying vote. This was only a procedural vote and not any sort of repeal or replace vote. As a result of this motion passing, the Senate can begin to debate on the […]