PYMNTS

MARCH 13, 2020

Tax season frustrations can blossom into real financial problems, especially when refunds are paper checks sent through postal mail. tax code changes passed in 2017 did not soothe these frictions, either, as they shifted income brackets and altered rates, affecting consumers’ refunds and earnings.

Millennials 160

Millennials Taxes Innovation Operations 160

PYMNTS

SEPTEMBER 4, 2019

Since 1992, when eCommerce was still in its infancy, online retailers have not had to collect sales tax. States can now tax sales by companies that do not have a physical presence within the state. Will this increasingly regulated online sales tax environment affect this growth? Online Sales Tax and Marketplaces.

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Taxes Online South Dakota Louisiana 129

PYMNTS

JANUARY 29, 2020

businesses are likely already feeling tax season’s pressures. Filing is exhausting and complicated for individuals, and businesses experience those tax difficulties to a far greater degree. SMBs need to remain compliant with increasingly complex financial regulations. SMBs And Manual Tax Frustrations.

Taxes 141

Taxes Fraud Tools System 141

PYMNTS

NOVEMBER 16, 2020

Regulation. Tencent Holdings President Martin Lau said further regulations are needed in China to mirror a “new reality.”. As technology companies become bigger and more important to the economy, I would say more regulations to reflect the new reality are needed," Lau said, according to the report. Larry Hogan vetoed the levy.

Maryland 151

Maryland Taxes Online Groups 151

PYMNTS

OCTOBER 11, 2019

But along the way, global digital sales also carry a host of regulatory hurdles when it comes to satisfying various tax regimes. When [eCommerce companies] can’t get through the language barrier, the outcome is large-scale tax evasion, whether through ignorance, or whether through deliberate actions across the world.”.

Taxes 123

Taxes Course Company Training 123

Perficient

JUNE 30, 2022

Members of Perficient’s Digital Asset Team have advised followers in multiple online articles about the digital asset revolution and relevant regulations affecting the same in the United States. Highlights From Federal Bank Regulators’ Joint Statement on Cryptocurrency Assets – Perficient Blogs. Crypto Conference.

cryptocurrency 472

cryptocurrency Regulation Conference Taxes 472

PYMNTS

SEPTEMBER 8, 2020

Here’s the latest news for Big Tech’s Google , Amazon , Apple and Facebook , which are coming under increasing scrutiny from legislators and regulators the world over. Regulation. Big Tech Updates Fees to Reflect UK Digital Services Tax. For example, the company intends to pass on a new 2 percent U.K. and other countries.

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Taxes Google Apple social media 131

PYMNTS

MARCH 3, 2020

Andrew Tyrie, chairman of the Competition and Markets Authority (CMA), a competition regulator in the U.K., said his fellow regulators have been too soft on digital mergers, and consumers have suffered as a result, according to the Financial Times. He also called for stronger abilities to go after large tech companies.

Regulation 140

Regulation Conference Taxes Marketing 140

CFPB Monitor

MAY 13, 2022

The Treasury Department’s General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals includes a proposal concerning how EWA programs should be characterized for tax purposes. It would also add a definition of on-demand pay arrangements to the IRC.

Taxes 78

Taxes California Regulation Exercises 78

PYMNTS

JUNE 20, 2018

Peer-to-peer car-sharing services might soon face the same regulation as traditional car rental companies. This month, for example, Maryland passed a bill that requires car-sharing companies to comply with regulations similar to rules for car rental companies, including paying sales tax.

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Regulation San Francisco Maryland Illinois 100

PYMNTS

APRIL 12, 2016

China has some new taxes on goods imported through eCommerce sites, though it has also removed some duties that had previously been assessed. Food will now import at a higher duty price; previously the tax was 10 percent. percent, a dip from the 17 percent currently being charged as a value-added tax in Chinese physical stores.

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Taxes Policies Metro Retail 100

PYMNTS

JANUARY 26, 2018

And lest you think changes in tax policy sow confusion only in the United States, think again. Bitcoin breeched a key psychological barrier on news that the South Korean government would tax income earned by virtual currency exchanges to the tune of 24.2 This past week saw a wild ride. For someone in the U.S.,

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Bitcoin Taxes cryptocurrency Regulation 123

South State Correspondent

JUNE 7, 2023

Bank ERC Background Bank ERCs is a refundable tax credit available to businesses, including financial institutions, affected by the global pandemic as granted under the CARES Act and modified by the Relief Act. Unable to hold in-person meetings—with customers, partners, regulators, industry representatives, and more.

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Taxes Meeting Operations ATM 195

PYMNTS

SEPTEMBER 9, 2016

Facebook’s WhatsApp, Apple’s FaceTime and Skype are all on the European Commission’s list, which would include tightening security regulations. Additional measures may include mandating that messaging platforms, such as SkypeOut, must offer a way to call in an emergency, for example.

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Regulation Policies Apple Security 100

PYMNTS

SEPTEMBER 28, 2020

They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers. Corporate buyers that have gathered enough information on potential business partners then need to answer to regulators. Digital Fixes.

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Data Management Taxes Meeting 166

Abrigo

SEPTEMBER 20, 2023

Rather than stealing someone's identity or using a friend or family member's details, the account holder is who they say they are and uses their account to commit fraud—for example, applying for a loan with no intention of paying it back or filing a false chargeback claim. The scam here is an inside job, making it inherently more elusive.

Fraud 195

Fraud Trends Cards Software 195

PYMNTS

APRIL 14, 2020

Food delivery and Uber drivers, for example, are among those still able to work. Gig workers’ rights and benefits — including healthcare and access to unemployment — have become key topics debated by regulators in th e United States as they work to figure out how to provide support. How The Pandemic Is Impacting Business Regulations.

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Regulation Examples United States National 285

PYMNTS

MAY 3, 2016

This is proving particularly true for more and more cash-strapped states that have spent years staring at soaring traffic for online retailers but little — if any — increases in the taxes reaped from this digital, transcontinental economy. Fields, chair of Morrison & Foerster LLP’s state and local tax group, told Bloomberg BNA.

South Dakota 100

South Dakota Taxes Online North Dakota 100

PYMNTS

MAY 6, 2020

The pandemic has shut down brick-and-mortar casinos in markets like the United States to help minimize risk, for example, leading consumers to turn to online casinos and sportsbooks. The COVID-19 pandemic has put a halt on some of that growth — no sports means no sports betting, for example — but it has not prevented its rise completely.

Online 222

Online Taxes United States Industry 222

CFPB Monitor

OCTOBER 20, 2021

A group of 96 organizations and individuals, who describe themselves as consisting of “consumer, labor, civil rights, legal services, faith, community and financial organizations and academics,” have sent a letter to the CFPB urging the Bureau to regulate fee-based earned wage access (EWA) products as credit subject to the Truth in Lending Act.

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Regulation Groups Analysis Lending 78

PYMNTS

MAY 8, 2020

Supreme Court decision allowed sports betting in 2018 and inspired 2019 laws that govern the fledging industry in 10 states and set guidelines such as how online casinos can operate and how sports betting would be taxed. This year was expected to be lucrative for online sports betting as it is the first since those regulations were created.

Online 176

Online Industry New Jersey Pennsylvania 176

PYMNTS

FEBRUARY 10, 2019

Karan Bhatia, vice president of global public policy and government relations at Google, said there should be common rules when it comes to regulating technology on a global basis. To date, the countries have cobbled together their own regulation — but there hasn’t been one international approach. In the U.S.

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Policies Google Regulation California 122

BankUnderground

MARCH 12, 2024

The monetary squeeze was potentially disastrous for an economy already suffering from poor harvests, war-related disruption to trade and higher wartime taxes. For example, Thomas Sandes used its bills and notes from April 1695 to pay a wide range of creditors, including cloth merchants, ships chandlers and soap manufacturers.

Taxes 97

Taxes Examples Policies Payments 97

PYMNTS

NOVEMBER 27, 2018

The terms of this mandate will ensure that these areas are regulated and managed in a way that provides job opportunities as well as income for the government and people of Nigeria. Abubakar added that regulation will “provide clarity” and allow for jobs and income for Nigeria.

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blockchain cryptocurrency Bitcoin Ohio 193

PYMNTS

NOVEMBER 1, 2018

Take, for example, markets like the food and beverage, pharmaceutical and medical supplies space. These markets have similar challenges to the legal marijuana sector: products that are regulated, expire and have unique needs in terms of compliance and shipping. It’s the dual-edged sword of regulation for the cannabis market.

Taxes 122

Taxes California Regulation Innovation 122

PYMNTS

SEPTEMBER 12, 2019

billion — 91 percent — of those penalties, while European regulators demanded $1.7 FinTechs could face these same financial pains as regulators increasingly demand that they follow the compliance rules to which FIs must adhere. A report found that the U.S. imposed a full $23.52 billion and the Middle East levied $9.5 million. .

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

SEPTEMBER 25, 2018

could face regulation similar to that of traditional car rental companies. This month, for example, Maryland passed a bill that requires car-sharing companies to comply with regulations similar to rules for car rental companies, including paying sales tax. Some cities and states are also getting involved.

San Francisco 122

San Francisco Maryland Illinois Taxes 122

PYMNTS

FEBRUARY 27, 2019

27) recommending that the EU create a police unit dedicated to the investigation of tax and financial crimes, as well as a watchdog organization to fight money-laundering, according to a report by Reuters. It cited Luxembourg, Belgium, The Netherlands and others as examples. European Union lawmakers released a report on Wednesday (Feb.

Report 152

Report Taxes Maine Regional 152

Abrigo

MARCH 24, 2023

This example is a situation with a "high" inherent risk and "strong" mitigating controls. This example is a situation with a "high" inherent risk and "strong" mitigating controls. In the example above, processing outgoing international wires is a "high" inherent risk, scoring 3 points, using a 1–3-point scale.

Fraud 195

Fraud Compliance Examples Analysis 195

PYMNTS

OCTOBER 1, 2020

Consumers and microbusinesses now get an average of two disbursements each year, excluding tax disbursements from local, state and federal governments. 1: Instant disbursements as a percentage of all non-tax disbursements in the U.S. Fast Fact No. are growing — but slowly. More than two-thirds of consumers (68.1

Trends 306

Trends Study Taxes Payments 306

PYMNTS

JANUARY 16, 2019

In one example from the past several days, the China Banking Association (CBA) — the regulatory agency tied to the sector — has launched a new blockchain-underpinned initiative focused on trade finance. Separately, the South Korean government has been eyeing tax breaks for blockchain in a move that looks to bring innovation to the region.

blockchain 206

blockchain Taxes Security Survey 206

PYMNTS

SEPTEMBER 16, 2019

The requests center on, for example, Amazon’s acquisition of Whole Foods — and, separately, the way Google ranks its search results. On the Continent — and Taxes in Sight. Google’s own regulatory and tax issues extend well beyond domestic markets. It is an investigation to determine the facts.

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social media Google Taxes Arkansas 122

PYMNTS

DECEMBER 27, 2016

“Our overarching mission is to provide compliance services for small businesses, businesses that don’t have in-house attorneys or tech professionals, to provide the info that small businesses need to comply with employee management and tax reporting requirements,” said Susan Drenning, president of ComplyRight Inc. And on it goes.”.

Regulation 100

Regulation San Francisco Nebraska Trends 100

PYMNTS

MARCH 15, 2018

The draft regulation, as quoted by Reuters, targets what might be seen as harmful trading practices and states that “online intermediation services can hold superior bargaining power over their business users, enabling them to behave unilaterally in a way that is capable of harming the businesses using them.”.

Google 129

Google Apple Regulation Taxes 129

Abrigo

MARCH 22, 2023

A well-known example of a TBML system is the Black Market Peso Exchange , where U.S. For example, a seller exports $100,000 of goods to the buyer but only invoices the importer $10,000. Banking regulators and criminals understand TBML, so be sure your AML investigative team also does. Gain confidence in your BSA program.

Training 195

Training Fraud New Jersey Regulation 195

PYMNTS

JUNE 29, 2020

We cannot lift the restrictions without reassuring ourselves that the firm has been able to satisfy all our concerns, for example that all clients’ money is safe,” the Financial Conduct Authority (FCA) said in a statement. “We The United Kingdom’s regulatory authority said Wirecard AG was correcting issues raised by the $2.1

Taxes 223

Taxes Report Financial Technology Digital Banking 223

PYMNTS

AUGUST 3, 2020

Consumers have come to expect on-demand service when they watch movies, make online purchases or hail rides, for example, but this practice contrasts with how most employees are paid. McDonald’s and Outback Steakhouse began offering day-of payouts to employees two years ago, for example, and Walmart — the largest private employer in the U.S.

Payments 211

Payments Taxes Case Study Examples 211