1099
Prepare for New 1099-K Reporting Requirements Across the U.S.
A trend is emerging across the country. In the last year, Illinois, Virginia, Florida and Maryland changed their reporting requirements for the 1099-K. Below are
Category: Tax Compliance
Tax Compliance
In Focus: Easing the Pain of Negatives for Insurers
Anyone involved in insurance premium tax (IPT) compliance will be only too aware of negatives. Sadly, they almost always cause a headache and not only
IPT
Navigating IPT Regimes Across the French Overseas Territories
As we all know, insurance premium tax (IPT) differs country to country and if your company writes insurance cross border, tracking every jurisdiction’s IPT rate
E-archiving
E-archiving for VAT: Compliance in a Digital World
Compliant archiving of original invoices and similar tax-relevant documents has long been overlooked. As companies gradually made the move to digitize existing paper processes, invoicing
Tax Compliance
Preparing for Poland’s New JPK_VAT Structure
We recently reported the Polish government’s decision to delay introduction of the new JPK_VAT with a declaration structure until 1 July 2020. This move is
IPT
Portugal – New Stamp Duty Filing Requirements Delayed
The global tax landscape is rapidly changing as more tax jurisdictions require detailed electronic transactional reporting. This trend also applies to premium taxes, with Spain
Electronic Invoicing
Finland Expands Adoption of E-Invoicing
Finland’s government already receives over 90% of invoices electronically. Aiming to expand the use of e-invoices in B2B transactions, the country has granted B2B buyers
Tax Compliance
The Danger of Unclaimed Property for Healthcare Providers
Healthcare providers build up patient credit balances from collecting more coinsurance, copays, and deductibles than they earn. Unfortunately, because the fees are unearned, the healthcare
IPT
Spain’s Tax System – The Complexities of Compliance
Spain’s tax system is one of the most complex in Europe. For this reason, it presents a unique challenge for insurers when it comes to
IPT
What Cross-border Insurers Need to Know About French, Spanish and Portugese IPT
When operating across multiple regions, it’s challenging to stay abreast with every jurisdictions’ insurance premium tax (IPT) rates, particularities and exemptions. Country-specific filing and audit
News
Further EU VAT Measures in Response to Coronavirus
Sovos recently published a blog regarding prospective measures EU member states are taking in response to the Covid-19 pandemic. Included below are additional actions introduced
1099
The Top 5 Ways Coronavirus is Affecting your Business’s Tax Reporting Obligations
The Coronavirus Aid, Relief and Economic Security (CARES) Act addresses the economic impacts of the COVID-19 outbreak. It authorizes emergency loans to distressed businesses, payouts
1099
The Top 5 Challenges of Forms 1099-LS and 1099-SB
Forms 1099-LS and 1099-SB were born out of the 2017 Tax Cuts and Jobs Act (TCJA) as part of the Life Settlement reporting section. They
Electronic Invoicing
Vietnam’s E-invoicing Mandate – Delayed Until 2022
The Ministry of Finance in Vietnam recently presented a draft decree to the Prime Minister for ratification, indicating that the go-live date for mandatory e-invoicing
E-archiving
Turkey Publishes Storage Guidelines for E-Ledger
On 3 April 2020, storage guidelines for e-ledger were published by the Turkish Revenue Authority (TRA). The guidelines set out the requirements and standards for
1099
The Top 5 Things Tax Professionals Need to Know About Form 1099-NEC
Tax professionals around the country are preparing for the new Form 1099-NEC. A lot of confusion surrounds this form. Below are the top 5 things
Sales & Use Tax
GoKeyless: We thought we were ready for Wayfair, we were wrong
GoKeyless Journey 3-part Q&A blog series This three-part blog series will cover the journey of GoKeyless as they struggle to deal with the initial impact
IPT
IPT calculations: The importance of getting it right
We are in unprecedented times where hour-by-hour change has become the new norm. This is particularly true across our industry as governments evaluate and assess