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Tax Considerations for Good Corporate Citizens

The COVID-19 pandemic has fundamentally changed the business landscape of our country in a matter of weeks. The demand for products such as paper products and hand sanitizers have overridden the ability of suppliers to fulfill orders. And perhaps most alarmingly, we have learned that our critical services such as hospitals, clinics and first responders […]

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Keep Your Company Safe from Audit Risk While Adapting to COVID-19

Tax compliance has always been a balancing act – directing available energy and resources on those activities and solutions that will do the most to keep your company safe from audit risk. While the challenges may differ (as resources may be less available to some businesses during the COVID-19 pandemic) the obligation of tax professionals […]

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Prepare for Errors with Form 5498

The IRS extended the individual income tax filing due date to July 15, 2020. The IRS also extended the time period an individual can contribute to their IRA and still apply those contributions to the 2019 calendar year. However, the IRS has not extended the issuing and filing due date for Form 5498 by the […]

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Creative Ways Wineries are Staying Connected and Promoting DtC Shipping

Overcoming the challenges of social distancing is proving difficult for many industries during the time of COVID-19. The inability to interact face-to-face with customers is hampering sales efforts for most. However, some of our clients are getting creative in finding ways to stay connected with their target audiences.  At a time when wineries can’t rely […]

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11 Need-to-Know Stats from 2020 DtC Wine Shipping Webinar

The annual Direct-to-Consumer Wine Shipping Report is full of data that can help you make strategic operational and marketing decisions for your business. Out of the dense 36-page report, Alex Koral, Senior Regulatory Counsel, Sovos ShipCompliant, and Andrew Adams, Editor, Wine Analytics Report, a part of Wines Vines Analytics unpack 11 key statistics and offer […]

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COVID-19 and Changes in the Beverage Alcohol Industry

It seems as if, in a few short weeks, the entire world has been turned upside down. In response to the COVID-19 crisis, society has adopted emergency measures to stem the tide of the virus, with companies shifting to remote work or shuttering wholly, and people adjusting to social distancing or more extreme quarantine measures. […]

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B2B Transaction Automation Platforms: Quantifying the VAT Compliance Advantage

In the past five years, transaction automation platform vendors who embraced e-invoicing and e-archiving compliance as integral to their services grew on average approximately 2.5 to 5 times faster than the market. Two decades of EU e-invoicing: many options, different models Until 1 January 2019, when Italy became the first European country to mandate B2B […]

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Sports Cancellations Cost States Big Time

This year’s sports cancellations, including the NBA and March Madness, have left many states with far fewer tax dollars than expected. Since it was legalized by the Supreme Court in 2018, sports betting has been legalized by state governments across the country. Last year, nine states legalized sports betting. This brings the total number of […]

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International Tax Changes During the COVID-19 Pandemic

In the last several weeks, we have monitored many efforts by federal, state and local governments to provide relief to both businesses and individual taxpayers impacted by the COVID-19 pandemic. As they relate to indirect tax (VAT/Sales Tax/GST), the measures enacted to-date have followed varying paths. Here are a few examples of the types of […]

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Live Updates: COVID-19-Related Tax Changes

Originally posted: March 18, 2020, at 5:00 p.m. ET. Last Updated: April 1, 2020, at 2:00 p.m. ET. The impact of COVID-19 on businesses across the globe has been swift and severe.   In response, many federal, state and local governments are working to provide relief to both businesses and individual taxpayers impacted by the […]

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Why You Should Attend the 2020 Wine Summit

Sovos ShipCompliant continues to monitor news about the evolving spread of coronavirus, or COVID-19. At this time, we are planning to move forward with the 2020 Wine Summit. Should we need to cancel or postpone the 2020 Wine Summit, we will notify registrants as soon as possible and you’ll receive a full refund if cancelled. […]

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BevAlc Roundup | Utah to Allow “Wine Club” Sales, Coronavirus Closures, and the SVB DTC Survey is Open

The coronavirus has moved from being a panic to a pandemic over the last few weeks, leading to mass closures and social distancing, and capturing all of our attention. The news is replete with stories of cancelled events and ways to cope with the reality of a modern plague. Heavily dependent on tourism and entertainment, […]

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Nominate Your Winery for Our Annual Customer Awards

The annual Sovos ShipCompliant Wine Summit is quickly approaching and it’s time to nominate your winery for the Vinners, our customer awards before submissions close on May 1. If you are a winery and a Sovos ShipCompliant customer you are eligible to submit a nomination. You don’t need to attend the Wine Summit to be […]

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Turkey Publishes e-Delivery Application Manual

The Turkish Revenue Administration (TRA) has now published the long-awaited e-Delivery Note Application Manual. The manual clarifies how the electronic delivery process will work and answers frequently asked questions. It addresses the application as well as its scope and structure, outlines important scenarios and provides clarity for companies who are unclear about the adoption of […]

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Seller Beware: Use Your Own License

This last January, in partnership with Wine Vines Analytics, we published the latest of our annual Direct-to-Consumer (DtC) Wine Shipping reports, showcasing a market that readily reaches $3 billion in annual revenue. Yet throughout the tremendous growth we have seen in the DtC wine shipping market over the last decade and more, at least one […]

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US Supreme Court will Hear ACA Challenge: What are the Ramifications for Tax?

On March 2, the Supreme Court announced it would consider a challenge to the Affordable Care Act (ACA), more commonly referred to as Obamacare. The legal challenge, brought by the Attorney General of Texas and before the Supreme Court as California v. Texas, seeks to overturn the landmark healthcare law. The challenge proposes that since the […]

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Virginia Lowers Reporting Threshold for Third-Party Settlement Organizations

The Virginia legislature recently passed legislation which makes significant changes to the reporting obligations of gig economy participants and specifically third-party settlement organizations (TPSOs). SB 211 stipulates that TPSOs must issue Form 1099-K to report payments made to their payees. And TPSOs must report payments made to participating payees with a Virginia address if those […]

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How to Prevent a Delaware Unclaimed Property Audit

Did your business receive a letter from the Delaware Secretary of State (SOS) Office? On February 20th, the Delaware SOS office sent “over 100 letters to various companies…that have been identified as likely being out of compliance with Delaware law, 12 Del. C. ch. 11, as it relates to reporting dormant, abandoned, or unclaimed property.” […]

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