1099
IRS’ New Extension of Time Impacts 2023 Recipient Statements
Unbeknownst to many issuers of 1099 and other information returns, Form 15397 Application for Extension of Time to Furnish Recipient Statements was debuted by the
Category: Tax Compliance
Tax Compliance
Why the Math for Point Solutions Simply Doesn’t Add Up
A couple weeks back, Sovos introduced the Sovos Compliance Cloud. The industry’s first and only solution that unifies tax compliance and regulatory reporting software in
Tax Compliance
What Is Indirect Tax?
When most people think about “taxes” it’s likely that their thoughts first turn to “direct taxes.” However, in today’s economy, “indirect taxes” are becoming increasingly
Tax Compliance
What are RUUPA’s Pre-Presumption Outreach Requirements?
Managing compliance with unclaimed property has become challenging due to the constantly changing legislative environment. A recent obligation gaining traction among states, which companies must
Tax Compliance
IRS Delays E-File Requirement for Form 1042: What You Need to Know
In a recurring theme, the IRS released communication this week that exempts the requirement to e-file Form 1042 Annual Withholding Tax Return for U.S. Source
Tax Compliance
ACA Reporting Deadlines and More for Tax Year 2023
Affordable Care Act (ACA) reporting has started for tax year 2023. ACA reporting can quickly become complicated and costly with IRS penalties if your business
Tax Compliance
Consequences of Non-Compliance with Unclaimed Property Laws
Building and maintaining a program to ensure compliance with the ever-changing unclaimed property laws is challenging, costly and time consuming. As a result, many companies
Tax Compliance
Most Popular Wine Varietals Shipped in 2023 and More
Last month, Sovos ShipCompliant and WineBusiness Analytics released the 2024 Direct-to-Consumer Wine Shipping Report, marking the fourteenth consecutive collaboration between the two companies. Alex Koral
Tax Compliance
The 2024 UPPO Annual Conference | 5 Things to Expect
The unclaimed property (UP) community will convene in Las Vegas starting Sunday, March 10 for the 2024 Unclaimed Property Professionals Organization (UPPO) Annual Conference. Running
1099
4 Key Takeaways on Recent Form W-8 and Form W-9 Changes
Last year, Sovos and Comply Exchange held a customer roundtable discussion on recent Form W-8 and Form W-9 changes. Here are some of the top
Tax Compliance
Prepare for Annual Statement Season with Sovos Education Services
As we approach annual statement season, join us at Sovos Education for one of our refresher or short courses to get up to speed on
Tax Compliance
Utilizing a ‘How To’ Manual to Prepare Your Annual Statement
While the NAIC Annual Statement instructions are useful when completing your annual statement, they don’t always address every page or every row/column on an exhibit
Tax Compliance
4 Challenges When Relying Only on Core Banking Systems for Tax
Banks and credit unions typically use core banking systems that house customer data and other tax information related to customer accounts. When tax information reporting
Tax Compliance
Cannabis Concerns for the Beverage Alcohol Industry
A Q&A with Arun Kurichety, COO & General Counsel, Petalfast In an effort to better understand potential cannabis concerns in the beverage alcohol industry, I sat
Tax Compliance
CARM: Canada´s New Importing Project
Canada’s Border Services Agency (CBSA) has introduced CARM, a new process to modernise and digitalize import of goods in Canada. The agency’s vision is to
LatAm Compliance
Argentina: New Perception VAT Regime on Sale of Food and Products for Human Consumption
Argentina has recently expanded its perception VAT (Value Added Tax) collection regime to ensure efficient tax administration. It has included selling food and other products
Tax Compliance
Pre-filled Italian Annual VAT return – an innovative change
On 10 February 2023, the Italian Tax Authority introduced the possibility for 2.4 million professionals and companies to view and download the pre-filled Annual VAT
Tax Compliance
How Proper W-8 Management Ensures Seamless 1042-S Reporting
By Wendy Walker, Solution Principal, Sovos and Jessica Metts, Director of Client Services, Comply Exchange With the 1042-S reporting deadline approaching , Comply Exchange recently