IRS Updates 1099-NEC (Nonemployee Compensation)
The IRS recently updated Form 1099-NEC (Nonemployee Compensation). Beginning with tax year 2025, excess golden parachute payments to non-employees will be reported in Box 3
Region: North America
Joint Resolution for Congressional Disapproval of DeFi Crypto Regulations Passes House and Senate
On March 11, 2025, the United States House of Representatives passed H.J.Res. 25, which provides for congressional disapproval of the DeFi crypto regulations published on
IRS Releases 2025 General Instructions for Forms W-2 and W-3
The IRS recently released the 2025 General Instructions for Forms W-2 and W-3. There are several notable updates. The due date for filing the 2025
Beverage Alcohol
The Case for DtC Beer Shipping Reform: Key Takeaways from the 2025 Report
Craft beer drinkers want more choices. Brewers want more opportunities. And yet, legal barriers still stand in the way of direct-to-consumer (DtC) beer shipping. The
Majority of Americans Desire Direct-To-Consumer Shipping Access to Beer
Sovos ShipCompliant and Brewers Association’s Direct-to-Consumer Beer Shipping Report reinforces benefits direct-to-consumer shipping and highlights inequities with wine market ATLANTA – MARCH 12, 2025 –
Electronic Invoicing
Navigating Singapore’s Upcoming E-Invoicing Mandate: Essential Insights for Tax Professionals
Singapore is on the brink of a significant transformation in its tax reporting landscape. The Inland Revenue Authority of Singapore (IRAS) has announced a phased
Arizona Waste Tire Fee Maximum Fee Increase
Effective April 1, 2025, The Arizona Department of Revenue is increasing the maximum fee per tire from $2.00 to $4.66 per tire. The fee for
Utah Decreases the Prepaid Wireless 911 Service Change to 4.33%
Utah recently released details pertaining to legislation that decreased the Prepaid Wireless 911 Service Charge from 4.90% to 4.33% effective January 1, 2025. Sellers are
New York Publishes Publication 72.5 (Electronic Reporting of NYS-45 Information)
The New York State Department of Taxation and Finance recently published the new Publication 72.5 (Electronic Reporting of NYS-45 Information) for quarterly reporting. Beginning March
Maryland Releases 2025 Employer Withholding Guide
Maryland recently released its 2025 Employer Withholding Guide. Changes have been made to reflect the transition to Maryland’s new portal, Maryland Tax Connect (MTC). References
New York Provides Update on Upcoming Changes to Withholding
New York recently updated the webpage it maintains for upcoming changes to its withholding requirements. By March 2025, New York intends to significantly overhaul its
South Carolina Changes Withholding Tax Rates for Certain Income Types
South Carolina recently released Information Letter 2024-16 (Tax Legislative Update for 2024). The letter includes legislative updates to South Carolina’s income tax withholding rates, effective
New York Updates Publication 66 (Electronic Reporting of Form NYS-1 Information)
New York recently updated Publication 66 (Electronic Reporting of Form NYS-1 Information). This change is part of an overhaul of New York’s withholding reporting processes.
Beverage Alcohol
From Decline to Opportunity: Lessons from the 2024 DtC Market
The 2025 Direct-to-Consumer Wine Shipping Report offers more than just data—it provides valuable insights into the trends shaping the industry and the factors driving change.
Events
COST 2025 Spring Meeting & Audit Session
Meet the Sovos team at COST’s annual spring meeting and learn about our customer-centric approach to compliance. With solutions for indirect tax, 1099 reporting and more, our team is happy to discuss your global compliance strategy.
Beverage Alcohol
Mississippi Opens the Door to Direct-to-Consumer Wine Shipping
In a shockingly quick turn of events, the Mississippi governor has signed a bill that will enable the direct-to-consumer (DtC) shipping of wine, making it
Tax Compliance
Navigating Germany’s E-Invoicing Mandate: Regulation Update & Live Product Demo
Germany – the largest economy in Europe, and the fourth largest globally – is moving towards mandatory e-invoicing. As a key exporter of industrial goods,
Tax Compliance
Streamlining Tax Identity Management
Simplify TIN validations and protect your business from penalties with TINCheck Join us for, Streamlining Tax Identity Management, where we’ll break down the basics of