Blog

Louisiana DtC Permit Application Now Available

The application form for a Louisiana Direct Wine Shipper permit and application instructions for a direct wine shipper permit are now available on the Louisiana Office of Alcohol and Tobacco Control (ATC) and Wine Institute websites. Pursuant to Act 637 (effective July 1, 2016) of the 2016 Regular Session of the Louisiana Legislature, LA R.S. […]

Read More
SHRM Conference Takeaways: Information, Education and Learnings

Recently, we were at the SHRM Annual Conference & Exposition 2016 in Washington D.C. The three days offered HR and Benefits professionals all types of opportunities for learning, hearing from industry experts and a chance to network and share their experiences concerning the first year of mandatory ACA reporting. Based on this feedback, here are […]

Read More
Real-Time Audits in Mexico: Key Finance and IT Considerations

With the success of Mexico’s CFDI e-invoicing mandate, the country is once again setting a new standard for global tax compliance as it implemenst real-time electronic audits in September 2016. Mexico’s tax authority will now be able to immediately identify errors or discrepancies in tax liability calculations, and conduct immediate, automated audits as a result of its […]

Read More
OECD Releases CRS XML Schema and User Guide

The OECD (Organisation for Economic Cooperative Development)  has released its schema for providing feedback related to CRS filings. This schema provides the standardized IT format by which error messages and notifications for incorrect or incomplete information will be sent between the Competent Authorities. As the OECD states, “With the first exchanges under the Common Reporting […]

Read More
North Carolina Department of Revenue Transitions to Annual DtC Excise Tax Reporting Schedule

On May 11th, the Governor of North Carolina signed legislation (S 729) changing the period for which NC wine shipper permittees must submit excise tax returns and accompanying excise taxes to the North Carolina Department of Revenue (NCDOR) from monthly to annual. With this change, excise returns and taxes will be due on or before […]

Read More
Weekly Roundup | Overview of the ‘Durbin Amendment,’ DtC Growth Nationwide, and Craft Beer in Science

I hope you had a great weekend with lots of rest and sunshine! Today, our weekly roundup includes an overview of the ‘Durbin Amendment,’ a look at DtC growth nationwide, and the role of craft beer in science. I hope you enjoy. If you read something I missed, let me know!

Read More
Weekly Global Round-up: July 2-July 8, 2016

Countries from all over are still working on laying out FATCA and CRS guidelines. Check out this week’s global round-up from our tireless experts on the tax team.   IRS Publishes New FAQ Regarding Submission of Form 8809-I The IRS has released a new FATCA FAQ relative to filing Form 8809-I, which is the application for […]

Read More
Wine Shipping Sees Growth Across the US

From Oregon’s Pinot Noirs to Napa Valley’s Red Blends, last year was a strong year for the direct-to-consumer industry across the West Coast. But what about the wineries across the rest of the United States? Defined in our 2015 Direct to Consumer Shipping Report as wineries outside of California, Oregon, and Washington, the Rest of […]

Read More
Your ACA Forms are Filed, What’s Next?

After lengthy preparations for ACA processing year 2016, your ACA forms have finally been submitted to the IRS and as a filer you are ready to breathe easy. Unfortunately though for filers, your ACA duties may not yet be fulfilled. The IRS recently clarified that, although it’s a good faith filing year, filers are still […]

Read More
Weekly Roundup | Impact of Brexit, a Recap of DIRECT 2016, and a Look at US Distilleries

I hope everyone enjoyed their Fourth of July! Today, our weekly roundup includes information on the impact of Brexit, a recap of DIRECT 2016, and a look at US distilleries. Enjoy your short week, and if I missed anything interesting, let me know! 

Read More
Whose Responsibility is it to Report Unclaimed Property?

Unclaimed property results from the everyday functions of a company’s operations. As state budget deficits continue to grow, companies should expect unclaimed property compliance and related audits to continue and possibly increase. So, who is responsible for handling the process of Unclaimed Property management and escheatment to the state and keeping their company compliant? Tax […]

Read More
DIRECT 2016 | Event Recap

This year’s DIRECT Conference was one for the books. Our event was jam packed with excitement, inspiration, innovation, and everything in-between. We are thrilled it was such a success, and are already eager for DIRECT 2017! While this year’s event was different, the energy, knowledge sharing, and community building present in past events was as […]

Read More
Global Updates: June 25 – July 1, 2016

Over the past week, countries around the world continued to release more information about and changes to FATCA, CRS, and CDOT regulations. Take a look at our roundup below of the latest global updates, compiled by our Sovos team of tax experts. Finland Publishes CRS & DAC2 Detailed Instructions (Finnish Draft) Finland recently published a draft […]

Read More
With Brexit a Reality, Multinational Organizations Should Begin Planning for the Future

In an interview with Spend Matters this week, Andy Hovancik, CEO of Sovos Compliance, advised businesses to take time to think through the implications of Brexit and assess how their business may be affected. The next step is to put mitigation plans in place for how your organization will respond to possible changes. “Brexit didn’t […]

Read More
Eight Ways Tax Changes Could Affect Businesses in the UK and Europe after Brexit

In the wake of the UK’s unprecedented decision to leave the European Union, multi-national companies are left wondering, “What does it mean for us?” The good news is businesses will likely have at least two years to prepare, and potentially longer if the UK delays the process until October to select a new Prime Minister. […]

Read More
Free White Paper: The Trouble with VAT Triangulation Transactions

When the European Commission abolished the internal fiscal borders of the European Union in 1992, they were quite aware of one particularly difficult matter – drop shipments. These are “triangular” transactions where the buyer is different from the recipient, also known as, when the bill-to party is different from the ship-to party. Now, after almost […]

Read More
Oak Creek, Wisconsin ACA Client Success Story

Entities of all kinds are struggling with the first year of mandatory ACA reporting, including municipalities. Take for instance, The City of Oak Creek in Wisconsin. Marie Lenda is the Benefits Coordinator who has been the primary contact for handling the HR/benefits for the city’s employees and retirees for almost all of her 20 year […]

Read More
Weekly Roundup | Illinois DtC Bill Adding Rules, Louisiana Improving DtC Laws, and Global Warming and Its Impacts

I hope everyone who attended our DIRECT Conference last week had a wonderful time! Our team so enjoyed the opportunity to meet with clients and come together to Build Tomorrow. Stay tuned for content from the event to come. Today, we’ve once again brought you the latest beverage alcohol industry news. This includes new rules […]

Read More