Sales Tax Toolkit: Your Guide to Annual Filings

To help you better manage your time, meet sales tax deadlines and avoid costly penalties, we’ve compiled a toolkit to get you through the sales tax annual filing period.

January is right around the corner which means the time to prepare for sales tax filing is now. If you continue to file taxes the same way you always have and hope that nothing is overlooked, it might be time for a new strategy. Remember, hope is not a plan. Sovos has what you need to ensure that you stay compliant, even as regulations change.

The sales tax filing process is often just that: a process. But it doesn’t have to be that way. Understandably, January is a stressful time of year; businesses often have monthly, quarterly and annual returns to finalize and submit. If you operate in multiple states – either with physical presence or as a remote seller – there may be numerous state annual reconciliations to consider. Additionally, local, state and federal tax regulations are ever-evolving, meaning businesses must remain vigilant to avoid inaccurate reporting that can lead to hefty financial penalties. 

It is also easy to feel overwhelmed with ensuring sales tax filing compliance. Burnout can happen when businesses lack necessary tools that help employees stay on track with tasks, while also maintaining a healthy work-life balance. When your employees are stressed, it may be more difficult for them to focus, which could lead to overlooked steps with your sales tax filing. But is there really a way to guarantee that balance? How can businesses make sure all sales tax filing deadlines are met without overwhelming employees? 

For anyone who has thought, “Help me sales tax,” we understand. Whether you are concerned about annual sales tax liability, updates at the local or state level or just with meeting all sales tax filing dates, Sovos is here to help. Our team understands that the sales tax filing landscape is changing and we want to provide you with the knowledge and tools you need to ensure state sales tax compliance.

Prepare for January sales tax filings now

If you continue to file taxes the same way you always have and hope that nothing is overlooked, it might be time for a new strategy. Remember, hope is not a plan. Sovos has what you need to ensure that you stay compliant, even as regulations change.

This Sales Tax Toolkit includes:

  • A filing deadline calendar for your returns due in January.
  • A compliance filing checklist to reduce your risk of inaccurate reporting and penalties.
  • Information on which states require annual reconciliations, and how to file them.
  • Tips from our Managed Services team on maintaining work-life balance and avoiding burnout.

When you download our Sales Tax Toolkit, you’ll also have the option to select a gift for added boost when it comes to juggling the increased workload come January.

Get your Sovos Sales Tax Toolkit