Digital transformation is becoming as inevitable as the reality of paying taxes. And as many companies discovered during the recent tax season, even the IRS is going digital. As Wendy Walker, solution principal at Sovos, told PYMNTS, the Internal Revenue Service’s ongoing digitization efforts pose...
Sovos has launched a solution designed to modernize how companies meet global indirect tax obligations. The new Indirect Tax Suite is part of the Sovos Compliance Cloud and helps enterprises manage all their indirect tax obligations with governments, buyers, suppliers and consumers, the provider of compliance solutions said...
Canada’s Parliament is considering a tax on digital services revenue that would impact the world’s biggest tech companies. The legislation would cover companies’ digital services revenue made from Canadian users, imposing a 3% tax on the revenue above 20 million Canadian dollars (about $14.5 million),...
Tax software firm Sovos has debuted an enhanced version of its Connector Marketplace. The launch, announced Wednesday (April 10), makes it easier for customers and partners to connect to Sovos’ Compliance Cloud. These connectors help companies implement Sovos’ tax compliance and regulatory reporting solutions into their enterprise financial systems,...
Steve Sprague, chief strategy and product officer at Sovos, told PYMNTS in a recent interview that tax compliance is changing — from an intermittent activity to a continuous one. In the past, corporate back offices were satisfied with legacy accounting systems and may have assumed...
Chime has expanded the availability of free access to its in-app tax filing pilot program. Following a successful pilot launch, the new tax feature is now available to millions more eligible Chime members, the banking app said in a Thursday (March 14) press release. “Offering...
It’s March — and for many corporations and government agencies, the race is on to file a complete accounting, particularly with Form 1042-S, with the IRS. Wendy Walker, solution principal at Sovos, told PYMNTS that companies operating on an international basis grapple with ongoing challenges...
Tax season is here, and the march towards digitization of records and electronic filing continues. Wendy Walker, solutions principal at Sovos, told PYMNTS that new e-File requirements — in this case, for Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons —...
Businesses do not have to report certain transactions involving digital assets until the Treasury Department and the Internal Revenue Service (IRS) issue regulations. The agencies said this in a Tuesday (Jan. 16) press release and issued an announcement that provides transitional guidance as they implement...
