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As Consumers Embrace eCommerce, Tax Complexity Grows

PYMNTS

South Dakota vs. Wayfair was only the beginning. The Supreme Court ruling has started the ball rolling for states and municipalities to tax eCommerce – specifically, out-of-state firms and online marketplaces. The tax jurisdictions number in the thousands, and the landscape is a fragmented one.

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How Merchants Navigate Tax Collection Complexity With Technology  

PYMNTS

eCommerce firms are navigating a tax collection environment that increasingly requires technology and automation to ensure compliance. In corporate payments news, Citi is tapping into application programming interface (API) calls to make treasury ops real-time. All this, Today in Data. 659B : Estimated potential value of U.S.

Taxes 122
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The (Un)Certainty Of eCommerce Sales Taxes

PYMNTS

The only certainties in life, the saying goes, are death and taxes. We’ll underscore the certainty of the latter — taxes — for eCommerce firms and sales taxes , especially. Although taxes may be certain — just how much tax is due, and where, and perhaps even when, are all variables that are far from certain.

Taxes 136
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Helping SaaS Firms Make Sense Of eCommerce?s Tax Complexities

PYMNTS

Beyond the challenges of the pandemic that is forcing businesses to grapple with all manner of operating challenges, tax complexity has been building over the years on a global stage — and it’s only going to increase. One significant example can be found in the 2018 Supreme Court ruling known as South Dakota v.

Taxes 131
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SMB Tax Complexity Preserves Role For The Human Accountant

PYMNTS

With the first tax season post-tax reform nearing completion in the U.S., Ongoing regulatory changes and persistent uncertainty mean that that importance will continue even outside of tax season, with challenges that even the most automated of accounting software solutions cannot always tackle. Tackling Tax.

Taxes 193
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MetaBank, Fiserv To Issue Preloaded Visa Cards For Stimulus Payments

PYMNTS

Treasury will allow two financial technology companies to issue prepaid Visa cards loaded with coronavirus stimulus payments. Reuters reported its sources confirmed MetaBank of South Dakota and Wisconsin-based Fiserv got the go-ahead following lobbying of the Internal Revenue Service (IRS) by payment industry groups.

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NRF On The Case For Revising eCommerce Sales Tax Laws

PYMNTS

The 2018 South Dakota v. Wayfair ruling gave states and cities permission to tax remote sellers and online marketplaces based on their economic participation in the state, regardless of whether they had physical presences. Online retailers aren’t sitting still when faced with new taxes — and some are even fighting back in court.

Taxes 101