As the IRS rolls out Form 1099-DA for digital asset transactions, financial institutions that have long reported on traditional securities through Forms 1099-B, 1099-DIV, and others are encountering a new level of complexity. For firms expanding from traditional finance into digital assets, it is essential to understand both the differences and the overlaps between these reporting frameworks. Join Sovos experts as we break down the specific requirements of 1099-DA reporting, from capturing transaction data to calculating cost basis, and compare them with established reporting processes for stocks, bonds, and other traditional instruments. We will also address the risks of treating digital asset reporting as a separate process (spoiler alert – data silos, inconsistent outputs, and operational strain!) Attendees will walk away with strategies for unifying reporting across asset classes. If you want to ensure accuracy and compliance and deliver a seamless customer experience, you don’t want to miss this.
Different Rules, Different Risks: Understanding the Differences Between 1099-DA vs. 1099-B Reporting
Last year’s Sovos Always On event was a great success, bringing together professionals from across industries to explore the latest in tax compliance and regulatory change. Building on that momentum, we’re excited to host the event again this year.
Join us at the Tax Reporting & Withholding Conference where tax professionals will get a deep dive into crypto asset reporting regulations and the latest Form 1099 and 1042-S reporting requirements. At this conference, learn how to stay ahead of IRS changes and connect with industry experts navigating the same challenges. We hope to see you there!
Last year’s Sovos Always On event was a great success, bringing together professionals from across industries to explore the latest in tax compliance and regulatory change. Building on that momentum, we’re excited to host the event again this year.
Last year’s Sovos Always On event was a great success, bringing together professionals from across industries to explore the latest in tax compliance and regulatory change. Building on that momentum, we’re excited to host the event again this year.
Join us at the Tax Reporting & Withholding Conference where tax professionals will get a deep dive into crypto asset reporting regulations and the latest Form 1099 and 1042-S reporting requirements. At this conference, learn how to stay ahead of IRS changes and connect with industry experts navigating the same challenges. We hope to see you there!