Is Your Organization Prepared for B and P Notice Season?

Sovos
August 18, 2016

This blog was last updated on June 27, 2021

The IRS has started sending CP2100 and 972CG notices to organizations. These notices, commonly referred to as B and P notices respectively, contain incorrect name/taxpayer identification number combinations from previous years’ information returns. The landscape of B and P notices is multifaceted and managing this process to stay compliant can be arduous. Is your organization ready to manage the B and P notice process? In a recent webinar, Dealing With B & P Notices and Abatements, Sovos covered topics including: managing the B and P notice process, proposed penalties, abatements and best practices. How does your business compare to those who attended the webinar?

  • 31% of attendees sent over 1,000 W-9 solicitations to recipients last year.
  • 8% paid over $100,000 in fines derived from B and P notices, an indication that improvement in the W9 solicitation process is needed since significant fines are still being incurred.
  • 79% are managing this process in-house, potentially costing their business a significant amount of time and money to manage a process that could be outsourced. Outsourcing the B and P notice process can help business leaders refocus on growing their company — instead of managing a complex tax process.

Watch our webinar replay, Dealing With B & P Notices and Abatements, to learn how your organization can manage the B and P notice process more effectively.

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Author

Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.
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