News
UK Amendment Expands HMRC Investigative Powers and Liability Risk
In a move that creates increased liability and risk for non-compliant institutions and individuals in the United Kingdom, HM Treasury recently published an Amendment to
Category: News
News
American Health Care Act Moves Forward, Carrying With It Reporting Requirements
Regulatory analysis: A group of Republican Senators is drafting its own health care legislation, “incorporating” some provisions of the House plan. In all likelihood, the
News
U.S. Manufacturers Face Tax Reform Uncertainty
Tax reform is a primary focus in Washington right now, so it is important that U.S. manufacturers understand how changes could impact their business —
News
ACA Regulatory Analysis: What Would the MacArthur Amendment Mean for ACA Reporting?
The House Freedom Caucus endorsed the MacArthur Amendment last week, bringing Republicans closer to the 216 votes they need in order for the AHCA to
News
1099 Updates: April 15-30
Regulatory and legislative updates to 1099 form requirements that took place in recent weeks. Individual states and the IRS introduce new 1099 form requirements and
Top 2016 Changes for Tax Information Reporting and What to Expect Next
With the 2016 tax reporting season mostly in the rear view mirror, it’s time to take a look back at the significant changes to the
Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part III: Transitional Systems in the European Union)
In this conclusion to our three-part series on how tax authorities in VAT jurisdictions are using e-invoicing to control the VAT return process, we’ll look
60% of Filings Submitted to ‘Early Adopter’ Tax Jurisdictions for First CRS Exchange May be Rejected
Sovos is predicting the majority of transmittals submitted by qualifying financial institutions to early adopter tax jurisdictions in the next two months may be rejected
AEOI Updates: April 7-21
Automatic Exchange of Information (AEOI) legislation is constantly evolving worldwide as the standard is rolled out around the world. The Sovos research team continually monitors
ACA Regulatory Update: Why a “Good Faith” Reporting Year Doesn’t Zero Out Penalties
The Affordable Care Act Employer Mandate is in full force for tax years 2016 & 2017, despite the ongoing dialogue in Washington DC. Although it
Massachusetts Adopts an Economic Nexus Standard For Remote Sellers and Vendors
Remote sales continue to be an ongoing concern for vendors trying to stay compliant with state and local taxing authorities. Massachusetts joins a growing list
Total Control: Three Ways Global Tax Administrations Are Cracking Down on VAT Liability (Part II: Brazil)
In this article, we turn our focus to the second and most widely used system – ex-ante and real-time invoice validation. In our previous blog,
1099 Updates: April 1- April 15
Regulatory and legislative updates to 1099 form requirements that took place in recent weeks. Individual states and the IRS introduce new 1099 form requirements and
Tension Escalates as CRS Deadlines on the Horizon
Paul Banker, General Manager – Sovos Compliance, attended a meeting of Working Party No. 10 on Exchange of Information and Tax Compliance, as a member
News
AEOI Updates: March 25 – April 7
Automatic Exchange of Information (AEOI) legislation is constantly evolving worldwide as the standard is rolled out around the world. The Sovos research team continually monitors
Large Challenges Await Financial Institutions: An Interview with Corinna Hedtke, Standard Chartered Bank
Financial institutions (FIs) will face major challenges when preparing for the Common Reporting Standard (CRS). Among the most significant of these will be compiling and
1099 Updates: March 2017
Regulatory and legislative updates to 1099 form requirements that took place in recent weeks. Individual states and the IRS introduce new 1099 form requirements and
4 Trends Impacting IT Teams’ Ability to Support Sales and Use Tax Compliance
This summary of our Sovos Tax Tuesday webinar addresses the challenges that IT managers face, and solutions to managing sales and use tax compliance. On