The Growing Tax Gap: Expect Expanded 1099 Reporting

In the Fall of 2022, the IRS released updated Tax Gap numbers estimating increases year over year. The single most effective compliance tool that the IRS uses to ensure income tax compliance is third-party information reporting by businesses. How will the IRS expand or change 1099 reporting to combat the growing Tax Gap? What can your business do to prepare for more 1099 reporting requirements? Join Sovos experts to learn about potential changes to expect as well as how you can position your business to stay ahead. Topics will include:

·         What is the Tax Gap?

·         How does 1099 reporting play into the Tax Gap?

·         Areas of increased IRS enforcement and expanded requirements to watch

·         How to stay ahead and prepare for changes

Event - COST 2025 Spring Meeting & Audit Session
North America Tax Compliance
May 21, 2025
COST 2025 Spring Meeting & Audit Session

Meet the Sovos team at COST’s annual spring meeting and learn about our customer-centric approach to compliance. With solutions for indirect tax, 1099 reporting and more, our team is happy to discuss your global compliance strategy.

Event - Sovos 18th Group Indirect Tax Exchange
North America VAT & Fiscal Reporting
March 13, 2025
18th Group Indirect Tax Exchange

Join Sovos at the 18th Group Indirect Tax Exchange and gain insights from our expert on the Industry Adoption of E-Invoices and E-Reporting Challenges.