Tax & Compliance Automation for Virtual Asset Service Providers

IOFM’s Spring 2021 Financial Operations Summit is a 4-day virtual event connecting financial operations professionals in AP and AR with leading solution providers through daily town hall panel discussions, demo presentations, by-invitation focused luncheons, peer networking opportunities, and more.  The event will bring together thought leaders and Subject Matter Experts from AP and AR to address the most […]

Another January – arguably the busiest month of the tax season – has ended. Tax reporting professionals were consumed with issuing (and filing, in some cases) Forms W-2, 1099, and other information returns for U.S. taxpayers throughout the month of January. Now, we turn our attention to preparing for another busy month of tax processing. […]

Consensus 2021 is a conference dedicated to the cryptocurrency and blockchain industry in the worlds of legacy finance and commerce. Sovos will be there! Consensus 2021 covers topics such as: Blockchain industry capital formation, Retail and institutional crypto markets, The intersection of blockchain and cryptocurrencies with the traditional business world, Regulation and compliance, Hands-on environment […]

By: Cornel Lupu Insurance companies, like all “holders,” are required to comply with the unclaimed property laws for each state or jurisdiction within the United States and its territories. Although there are some similarities, many states have different reporting requirements and dormancy periods. As of late, there have been many legislative changes affecting the unclaimed […]

January is in full-swing as businesses and software filers scramble to prepare Forms W-2, 1099, 1098 and other information returns to issue to recipients by the end of this month. As the deadline approaches for what is arguably the busiest month of tax season, the IRS released Notice 2021-06 impacting 1099’s that your company may […]

Nonemployee compensation is the income paid by companies that classify an individual as a nonemployee. Nonemployee compensation can represent a variety of business payments including fees, commissions, prizes or rewards. The IRS and states use a variety of information returns to verify the accuracy of income claimed by individuals and business taxpayers including Form 1099-MISC […]

Updated Feb. 2, 2021 With the latest IRS announcement in Publication 1220 stating that information reporting data for the new Form 1099-NEC, Nonemployee Compensation, will not be included in the Combined Federal/State Filing (CF/SF) program, numerous states are beginning to publish direct reporting requirements. The Sovos regulatory analysis team will continuously update this page with […]

Download this white paper to learn some of the most common issues organizations face during year-end 1099 reporting, along with best practices to help your business avoid them.

The UPPO Annual Conference is the premier event for professionals responsible for unclaimed property. And for unclaimed property experts! The conference integrates networking and premier education into every aspect of the agenda, providing attendees with the information and connections needed to minimize their companies’ risk, and achieve and sustain compliance with unclaimed property laws and […]

Earlier this week, Sovos acquired LTtax, a New York-based provider of payroll withholding and unemployment tax software. The company serves some of the largest retailers, financial institutions and insurers operating in the United States, and its automated withholding technology solves a critical need for large enterprises that manage their own payroll services. Sovos saw an […]