Furthering its goal to minimize the Tax Gap, the IRS has rolled out a variety of new 1099 reporting requirements over the last several years and this year is no different. The American Rescue Plan Act changed Form 1099-K reporting requirements and the 2022 season requires third-party payers to issue significantly more forms than ever before. When the IRS changes 1099 reporting requirements, the states soon follow suit.
In this webinar, Sovos experts will discuss both the regulatory changes as well as the operational impacts, providing a toolkit of information and best practices. Whether its how to minimize the cost of compliance and avoid IRS backup withholding notices (and subsequent penalties) or what the future holds for the 2022 reporting season, attendees will come away with actionable strategies that can be applied in practice.