Sovos, which markets indirect tax software, has acquired 1099 Pro. Terms were not disclosed.
Based in California, 1099 Pro fields applications for generating 1099 forms, along with tax identification number matching, electronic filing and Affordable Care Act reporting.
In the announcement, Sovos noted the decision by the Internal Revenue Service to exclude the new 1099-NEC form for non-employee compensation from the Combined Federal/State Filing program. Sovos and 1099 Pro will offer options from self-service downloads to enterprise software-as-a-service,
Sovos also noted the “threshold for electronic filing will fall in 2021, requiring smaller filers to obtain approved transmitter codes for tax information reporting.”
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind