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...
It’s 2024 and, yes, the year is only a few weeks old. When it comes to tax compliance, Sovos CEO Kevin Akeroyd said as more companies do business across borders, the regulatory landscape is shifting. The governmental demand for data is rapidly intensifying as more...
Intuit has integrated TurboTax into two of its other products: Credit Karma and QuickBooks. These integrations will streamline the tax preparation and filing process for individuals and small business owners by combining the tax knowledge engine of TurboTax with the filer’s personal and financial data...
Wendy Walker, solution principal at Sovos, said changes to IRS reporting that help identify firms may catch some businesses unaware. As Walker illustrated in a recent interview with PYMNTS, if an enterprise wants to file information with the IRS — such as 1099s — they...
The Internal Revenue Service (IRS) has delayed the implementation of the new $600 Form 1099-K reporting threshold for third party settlement organizations (TPSOs), which include payment apps and online marketplaces, for the calendar year 2023. This decision comes after receiving feedback from taxpayers, tax professionals and payment processors, with the aim...
Changes in tax reporting loom on the horizon — though recently were delayed a bit — as more commerce moves online. Wendy Walker, solutions principal at Sovos, told PYMNTS that the onus is on payments platforms to rise to the challenge. The conversation came against...
Ryan, a global tax services and software provider, has unveiled a platform that aims to revolutionize the global business tax payment process. Developed in partnership with tax technology provider Desucla, the Ryan TaxPay platform automates and streamlines tax payments for companies with regular obligations to...