Don’t just take our word for it. There’s a reason Sovos products are used by over half the Fortune 500 and the world’s smartest companies.
Because the IRS is underpaid by nearly half a trillion dollars per year, they are taking swift action to reclaim those tax dollars. This could mean steep penalties for your business if you fail to meet the latest regulations. See the infographic below for more facts about enforcement.
By far, the biggest challenge facing organizations during 1099 reporting season this year was state reporting. With states tightening deadlines and multiple jurisdictions and reporting thresholds to deal with, Sovos customers found state reporting more complex than any other element of reporting season. This updated infographic shows why. The map shows 1099 reporting deadlines by […]
When does tax information reporting season end? At the end of January? Maybe in March? When 1099 forms are finally gone? For organizations that do it right, there is no “season.” Reporting is a year-round process that emphasizes efficiency over panic and minimizes risk. Check out the year-round reporting schedule in this infographic.