The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law in March 2020 to provide much needed economic relief to American citizens as a result of Covid-19. However, tax & accounting professionals are left wondering about the direct and indirect impacts the pandemic will have on their reporting obligations for tax season 2020.
Some of the major topics of confusion include:
- Constantly changing state and federal reporting obligations and timelines
- Changing rules for retirement accounts, which impact withholding and 1099 reporting
- New forms like the 1099 NEC
- And potential changes to existing forms like the 1099 MISC
These questions have left industry professionals with more questions than answers.
Check out this webinar’s recording and receive some crucial information on:
- The Cares Act
- The future of 1099 reporting for financial services and insurers
- How reporting obligations have changed for technology & gig companies
- 1099 reporting tips for cryptocurrency, online gambling & sports betting
- Sovos solutions and how we can help
