Sovos Tax Information Reporting
Led development of a multi-tiered software suite enabling companies—from small businesses to global financial institutions—to compliantly validate and report non-wage tax obligations (e.g., 1099 forms) to Payees, the IRS, and state agencies. The suite includes web applications, thick-client platforms, and verification services, supporting use cases across banking, insurance, gig economy, and cryptocurrency sectors.
Client
Sovos
Service Provided
Product Management, Product Delivery
The Goal:
To deliver scalable, secure, and compliant tax reporting solutions tailored to clients of varying complexity—simplifying 1099 reporting, improving data accuracy, and reducing the risk of regulatory penalties.
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The Challenge:
Organizations faced fragmented systems and complex rules for tax form generation, payee validation, and government transmittals—resulting in compliance risks, inefficiencies, and high operational costs.
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The Result
Enterprise Platform: $37.5M–$46M ARR, 3,500 clients, 107,000 users, including Wells Fargo, Chase, and State Street. Delivered a thick-client/on-premise platform supporting multi-jurisdictional reporting (IRS, states, Canada, Puerto Rico), integrated with custom modules like eStatements and withholding.
SMB Web App: $280K ARR, 141 clients, 400 users. Simplified 1099 reporting and e-filing for small to mid-sized payers.
Mid-Market Web App: $210K ARR, 28 clients. Supported advanced business rules, real-time PDF generation via API, and 63 electronic government transmittals.
Tax Identity Verification Service: Used by 2,000+ clients (e.g., Stripe) to verify payee legitimacy, supporting protocols like REST, SOAP, and screen-scraping with 2FA.
Collectively, these solutions modernized tax reporting workflows, strengthened compliance, and generated over $40M+ in recurring revenue across customer segments.
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