Let’s call it like it is. Today, the cryptocurrency industry is facing its most significant regulatory milestone yet. The introduction of Form 1099-DA represents more than just another tax form; it signals a fundamental shift toward mainstream financial regulation for digital assets. For brokers, exchanges, and financial institutions, the question
Massachusetts has established mandatory annual reporting requirements for motor vehicle insurers making payments to repair shops, effective for payments made on or after January 1, 2025. Under 830 CMR 62C.8.2, promulgated August 1, 2025, insurers must file electronic information returns with the Commissioner and furnish copies to repair shops. The
The IRS has confirmed the retirement of the long-standing FIRE system, ushering in a new era of information return filing through IRIS. After serving as the backbone of electronic tax reporting since the 1980s, this significant change will reshape how organizations approach information return filing. Join Sovos tax experts for
The “One Big Beautiful Bill” (OBBB) represents one of the most sweeping shifts to the tax compliance landscape in recent history. With wide-ranging provisions that touch nearly every corner of information reporting and withholding (IRW), this legislation will fundamentally reshape how organizations manage compliance, reporting, and operational risk. For tax
The One Big Beautiful Bill (OBBB), signed into law on July 4, 2025, delivers significant relief to third-party settlement organizations (TPSOs) by reverting 1099-K reporting thresholds and fixing critical compliance gaps. For 2025 transactions, TPSOs will need to issue and file 1099-K forms when both criteria are met for a
A U.S.-based specialty manufacturer serving defense, aerospace, and energy markets faced a complex use tax compliance challenge following a Colorado state audit.
Clarity in Times of Uncertainty Tax compliance doesn’t need to be taxing. We’re here to help wherever you are on your compliance journey. Whether expanding into new markets, protecting supply chains or already operating cross-border trade, Sovos is your tax compliance partner. We take care of the details so you
The Comprehensive Guide to Understanding and Complying with IRS TIN Matching Requirements
We’re excited to announce Sovos as a proud Gold Sponsor of the Tax Technology Conference 2025, taking place this November in Frankfurt.
Sovos is proud to be a Premium Sponsor of the 9th Indirect Tax & VAT Management Summit — the leading event for global tax professionals tackling the biggest challenges in indirect tax and VAT.
Advanced AI and machine learning capabilities transform tax compliance into a business advantage across global mandates ATLANTA, July 21 – Sovos, the always-on tax compliance company, today announced the launch of Sovi™ AI, a first-of-its-kind suite of embedded AI and machine learning capabilities purpose-built for tax compliance. Sovi is derived from
On May 20, 2025, Governor Ferguson signed SSB 5314, comprehensive legislation modifying the state’s capital gains tax under RCW 82.87.020. The bill addresses various aspects of the state’s relatively new capital gains tax. Among its provisions, Section 15 establishes new 1099-B reporting requirements for brokers and barter exchanges, effective January
In the whirlwind of tax policy changes sweeping through Congress, one provision of the recently passed “One Big Beautiful Bill” (OBBB) has quietly slipped through with minimal public scrutiny, despite its potentially massive fiscal impact. The bill increases the reporting threshold for Forms 1099-NEC and 1099-MISC from $600 to $2,000
Croatia has approved its new Fiscalization Law, published in the Official Gazette on 13 June 2025. This legislation represents the culmination of the “Fiscalization 2.0” project, expanding the current framework to include mandatory electronic invoicing and CTC (Continuous Transaction Controls) e-reporting in its scope. Key Aspects The law confirms the
On March 25, 2025, Governor Spencer Cox signed Utah House Bill 60 (HB 60) into law, significantly expanding the state’s 1099-K reporting requirements. HB 60 adds sections 59-1-1801 and 59-1-1802 to the Utah Code, mandating that payment settlement entities file Form 1099-K with the Utah State Tax Commission when two
Tax compliance is no longer just a regulatory checkbox—it’s a powerful source of insight, trust, and growth.
Uncover what sales tax is, how it works! This guide provides everything from rates and exemptions, to how it varies by location and product type.
When a seasoned tax manager joined the team at a leading insurance company, she quickly discovered a completely manual tax withholding process, the company was relying entirely on basic tools and manual reconciliation.