Tax Compliance
Tax Season is Upon Us: IRS Due Dates, Tips, and More
With the tax reporting season now in full swing, we wanted to send out some last-minute updates and key reminders for tax year 2024. From
Solution: Tax Information Reporting
Tax Compliance
Tax Relief Options for Businesses Impacted by the LA Wildfires
The recent wildfires in LA County have caused immense devastation, impacting individuals, families and businesses across the region. If you’re among those affected, we want
Newly Passed Legislation Impacts TY2024 ACA Reporting (1095-B / 1095-C)
Recently President Biden signed two bills into law that impact the reporting requirements and penalty provisions for employers and health insurance providers that provide minimum
Bulgaria: Mandatory SAF-T reporting from 2026
Bulgaria has announced the phased implementation of mandatory SAF-T (Standard Audit File for Tax) reporting, as outlined in the State Budget Law for 2025, starting
IRS Releases 2024 Instructions for Form 1042
The IRS recently released the 2024 Instructions for Form 1042 (Annual Withholding Tax Return for U.S. Source Income of Foreign Persons). There are several impactful
IRS Releases 2024 Form 1042
The IRS recently released the 2024 Form 1042 (Annual Withholding Tax Return for U.S. Source Income of Foreign Persons). Line 9 was updated to reflect
IRS Releases 2024 Instructions for Form 945
The IRS recently released the 2024 Instructions for Form 945 (Annual Return of Withheld Federal Income Tax). There are two notable changes. First, the IRS
IRS Releases 2024 940 Form and Instructions
The IRS recently released the 2024 940 Form and Instructions (Employer’s Annual Federal Unemployment (FUTA) Tax Return). There are two notable changes. First, the IRS
Sovos Annual Tax Compliance Trends Report
Discover the top 2025 tax trends reshaping compliance. Learn how AI, real-time data, and new mandates are transforming tax into a strategic advantage.
Canada Releases 2024 NR4 Publication (Non-Resident Tax Withholding, Remitting, and Reporting)
The Canada Revenue Agency (CRA) recently released the 2024 NR4 Publication (T4061 Non-Resident Tax Withholding, Remitting, and Reporting). There are several changes of note. When
Canada Releases 2024 T5008 Publication (Return of Securities Transactions)
The Canada Revenue Agency (CRA) recently released the 2024 T5008 Publication (T4091: Return of Securities Transactions). There is one notable change for filers who use
Canada Revenue Agency Releases 2024 T5 (Statement of Investment Income)
Canada Revenue Agency (CRA) recently released the 2024 T5 (Statement of Investment Income). There are several important changes related to the mid-year capital gains inclusion
Canada Releases 2024 T4A Publication (Deducting Income Tax on Pension and Other Income, and Filing the T4A Slip and Summary)
Canada Revenue Agency (CRA) recently released its 2024 T4A Publication (RC 4157 Deducting Income Tax on Pension and Other Income, and Filing the T4A Slip
Rhode Island Rereleases 2024 Withholding Filing Requirements
Rhode Island has released a second version of its 2024 Withholding Filing Requirements guide. Rhode Island houses its W-2 and 1099 electronic specifications in the
1099 101 Reporting
Join us for an introduction to the fundamentals of 1099 reporting, covering key terminology, common form types (e.g., 1099-MISC, 1099-NEC), deadlines, thresholds, corrections, federal vs.
IRS Establishes $5,000 Transitional TPSO Threshold for 1099-K for 2024, $2,500 for 2025, Waives Backup Withholding Penalties for TPSOs for 2024
On November 26, 2024, the IRS released Notice 2024-85 (Revised Timeline Regarding Implementation of Amended Section 6050W(e)). The notice announces transitional relief for Third-Party Settlement
West Virginia Releases 2024 1099 Specifications
West Virginia recently released its 2024 1099 Specifications. There are several changes of note. First, a new instruction has been added for software companies and
Maryland Releases 2024 1099 Specifications
Maryland recently released the 2024 Maryland Employer Reporting of 1099 Instructions and Specifications. There are significant changes to the 1099 filing process, which can be