TaxConnex

JANUARY 21, 2021

If your online company looks to expand its interstate sales in 2021, know one thing: Your plan involves risks and new responsibilities. The key is learning how to manage both, as sales tax non-compliance or errors can bring stiff penalties. You’re not alone. Almost two out of three businesses (65%) plan to grow across state lines in 2021, according to a recent TaxConnex-commissioned survey of 100 financial leaders and their concerns about multi-state sales tax obligations.

Sales 141

Sales Tax tax return audit 141

PYMNTS

JANUARY 21, 2021

In the bid to hasten their digital transformation, when it comes to innovation , financial institutions (FIs) may benefit from an “app store” approach as they weigh existing and new solutions. In an interview with PYMNTS, Avi Cohen , co-founder and CEO of FinTech company The Floor , said boosting digital offerings and bringing new ones to market demands quick decision making as banks seek to improve user experience and user engagement.

Technology 121

Technology B2B Gaming 121

ThomsonReuters

JANUARY 21, 2021

PPACA; HHS Notice of Benefit and Payment Parameters for 2022; Updates To State Innovation Waiver (Section 1332 Waiver) Implementing Regulations; Final Rule, 45 CFR Parts 155 and 156, 86 Fed. Reg. 6138 (Jan. 19, 2021); Notice of Benefit and Payment Parameters for 2022 Final Rule Fact Sheet. Regulations. Fact Sheet. HHS has finalized several of the regulations for insurance markets and Exchanges that were included with the proposed 2022 benefit and payment parameters (see our Checkpoint article )

Tax 109

Tax Account accountant accounted 109

PYMNTS

JANUARY 21, 2021

Insurance provider Chubb has rolled out a new insurance partnership with digital banking services FinTech Revolut , according to a press release. With the partnership, Revolut customers will have access to a range of coverage, including purchase protection, refund protection and ticket cancellation in places where the Revolut account is used, the release stated.

Account 112

Account accountant accounted 112

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ThomsonReuters

JANUARY 21, 2021

Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2021, 86 Fed. Reg. 2964 (Jan. 14, 2021). Available at [link]. The DOL has announced the 2021 annual adjustments to the civil monetary penalties for a wide range of benefit-related violations. As background, legislation enacted in 2015 requires annual adjustments to certain penalty amounts by January 15 of each year (see our Checkpoint article ).

Tax 93

Tax Account accountant accounted 93

PYMNTS

JANUARY 21, 2021

As the holiday shipping delay season fades into the books, the feeling of ordering something and doubting its arrival should be fresh in the minds of American consumers. Now imagine that same feeling, with thousands — or even millions — more dollars at stake. Welcome to the world of international trade finance and the business of smoothing over the 90-plus day payment lags and quality fears that trading partners often half a world apart must routinely contend with on a daily basis.

Finance 103

Finance Technology Agriculture Manufacturing 103

PYMNTS

JANUARY 21, 2021

One common theme amid bank earnings — beyond lofty trading revenues gleaned from Wall Street — has been the increased uptake of mobile banking. Stats from banks, pretty much across the board, have given evidence that consumers have been pivoting to their mobile devices to attend to their everyday financial needs. In just a few recent examples: Bank of America said this past week that active mobile banking users rose 6 percent to 30.8 million during the quarter.

Texas 101

Texas Gaming New York accounting online 101

ThomsonReuters

JANUARY 21, 2021

Final Regulations: Application of the Employer Shared Responsibility Provisions and Certain Nondiscrimination Rules to Health Reimbursement Arrangements and Other Account-Based Group Health Plans Integrated With Individual Health Insurance Coverage or Medicare, 26 CFR Parts 1 and 54, __ Fed. Reg. __ (__, __). Available at [link]. The IRS has announced final regulations that clarify how the Code’s employer shared responsibility and self-insured health plan nondiscrimination rules apply to HRAs t

Tax 59

Tax Account accountant accounted 59

PYMNTS

JANUARY 21, 2021

The healthcare industry continues to be on high alert and many hospitals are operating increasingly close to maximum capacity. Elective procedures typically handled at the hospital have not returned to pre-pandemic levels, and healthcare organizations continue to feel the effects and incur losses from the reduced volume. “I think the most [financially] at risk are those large conglomerates, those large hospital systems,” said Dominick Colabella , CEO of Rectangle Health in a recent chat with PYM

Hospitality 100

Hospitality Healthcare accounting and finance Government 100

Withum

JANUARY 21, 2021

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Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

PYMNTS

JANUARY 21, 2021

Plenty of famous retail chains have collapsed both before and during a pandemic that has slammed brick-and-mortar stores, but some iconic names like Pier 1 , Barneys New York and others are coming back – at least in some fashion. Barneys became the latest brand to rise from the dead recently when the retailer reopened as “ Barneys at Saks ,” a store within a store at the flagship Manhattan site of its former rival, Saks Fifth Avenue.

Retail 98

Retail New York Connecticut New Jersey 98

SchoolofBookkeeping

JANUARY 21, 2021

In QuickBooks Desktop it is possible to change the default account that you open up when you do specific tasks. You can set personal Mreferences for the following check writing tasks: Write Checks Paying Bills Paying Sales Tax Making Bank. Read More. The post Changing the Default Bank Account in QuickBooks Desktop appeared first on schoolofbookkeeping.com - Learn bookkeeping, accounting, QuickBooks, financial statements, and more.

quickbooks 52

quickbooks Account accountant accounted 52

PYMNTS

JANUARY 21, 2021

For credit unions (CUs), the digital trends that accelerated in 2020 amid the pandemic will gain even further traction this year. In an interview with PYMNTS, Denise Stevens , senior vice president and chief product officer at PSCU , said contextual offers and predictive analytics will help CUs compete more effectively with larger, traditional financial institutions (FIs) — and cement member loyalty.

Technology 96

Technology Account accountant accounted 96

ThomsonReuters

JANUARY 21, 2021

QUESTION: If a participant asks our self-insured health plan to send their claim file to a third party, such as their attorney, how do the HIPAA privacy rules apply to these requests? ANSWER: HIPAA limits disclosures of protected health information (PHI) to third parties. Generally, disclosures for treatment, payment, or specified health care operations do not require an individual authorization.

Tax 52

Tax Account accountant accounted 52

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

PYMNTS

JANUARY 21, 2021

Immediate disbursements are gaining favor in various industries and sectors. They can eliminate the pain points in business-to-consumer (B2C) transactions by keeping consumers from waiting to receive their funds, while businesses are witnessing the advantages of using real-time payments when transacting with each other. Such rapid business-to-business (B2B) payments give buyers better control over their cash flows and spare vendors from waiting for money to settle.

accounting and finance 92

accounting and finance B2C Technology Finance 92

ThomsonReuters

JANUARY 21, 2021

Univ. of Tex. M.D. Anderson Cancer Ctr. v. HHS, 2021 WL 127819 (5th Cir. 2021). Available at [link]. A federal appeals court has overturned a $4.3 million civil monetary penalty against a cancer treatment and research center (a HIPAA covered entity), ruling that the penalty assessment was “arbitrary, capricious, and otherwise unlawful.” As background, HHS’s Office for Civil Rights (OCR) investigated the covered entity after protected health information (PHI) of more than 30,000 individuals was

Tax 52

Tax Account accountant accounted 52

PYMNTS

JANUARY 21, 2021

The European Central Bank (ECB) held this year’s first monetary policy meeting, and said in a statement on Thursday (Jan. 21) that it would stay the course regarding procedures instituted during the COVID-19 pandemic. The central bank’s governing council said that Eurozone interest rates will stay at record lows, as would other policies instituted during the pandemic.

Government 90

Government Maine Finance 90

FraudFiles

JANUARY 21, 2021

Tracy Coenen talks about the steps she takes when she starts a new expert witness case. What documents should you ask for? What should you evaluate first?

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52

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Technology

PYMNTS

JANUARY 21, 2021

Mytheresa is set to go public at a value of $2.2 billion, with its stock priced at $26 per share, above its planned range of between $16 and $18 per share. The firm plans to list its stock on the NYSE with the “MYTE” ticker symbol and will commence trading on Thursday (Jan. 21), Reuters reported. Mytheresa said it is selling approximately 13.6 million American depositary shares (ADS), while its only stockholder would sell two million ADS.

Retail 88

Retail 88

RitaKeller

JANUARY 21, 2021

“To learn about excellence you must study it.” – Marcus Buckingham. You want your firm to get better and better. You want it to gain more and more visibility and to continually build and enhance the firm reputation. How do you and your firm get better? You learn from others. Inside your firm, your team members continually learn and improve.

cpa firm 40

cpa firm CPA cpas 40

PYMNTS

JANUARY 21, 2021

Global financial services provider iBanFirst has launched a Payment Tracker that will offer transparent, real-time tracking services, according to a press release emailed to PYMNTS. The feature will be available for both payers and payees, and it will offer live updates on the status of international payments at all stages of the fund transfer process, the release stated.

B2B 87

B2B Manufacturing Start-ups 87

Withum

JANUARY 21, 2021

CPA 93

CPA 93

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Technology

PYMNTS

JANUARY 21, 2021

New jobless claims dipped to 900,000, down 26,000 from the previous week’s revised level and below economists’ forecasts of 925,000, according to the weekly report released Thursday (Jan. 21) by the Bureau of Labor Statistics (BLS). . The previous week's level was 926,000, revised down by 39,000. The total number of continued weeks claimed for benefits in all programs for the week ending Jan. 2 was 15.9 million, a decrease of 2.4 million from the previous week. .

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87

Withum

JANUARY 21, 2021

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52

PYMNTS

JANUARY 21, 2021

At some point, though it may seem to be far away, air travel is going to resume. It may take a while. But businesspeople will want face to face meetings instead of Zoom. Parents will want to visit theme parks. Grandparents will want to visit grandchildren. And when it does return, so will long lines for international flights, shuffling paper, juggling passports and probably vaccination records.

Transportation 87

Transportation Government Technology 87

ThomsonReuters

JANUARY 21, 2021

Insurance Standards Bulletin Series—Information—Extension of Limited Non-Enforcement Policy through 2022 (Jan. 19, 2021). Available at [link]. CMS has announced another extension of the limited nonenforcement policy allowing states to permit insurers in the individual and small group markets to renew health insurance policies they would otherwise have to cancel due to noncompliance with certain Affordable Care Act (ACA) insurance market reforms.

Tax 98

Tax Account accountant accounted 98

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PYMNTS

JANUARY 21, 2021

When it comes to predicting the return of business travel , the conventional wisdom is simply all over the map right now, ranging from this summer to 2023 to maybe never. However, one theme that almost all interested parties seem to agree on is that whenever we do see a return of business trips and commercial travel, it will not look and feel exactly the same as it once did.

Transportation 86

Transportation Technology Government Sales 86

PYMNTS

JANUARY 21, 2021

Today in B2B payments, European banks grow wary of small business loans, and Xero collaborates on API bank connectivity. Plus, REPAY partners with Billtrust, JAGGAER teams with TransferMate and U.S. CFOs ponder their cash reserves. SMB Loans Pose Potential Big Risk for European Banks. Euro area banks have cut back on lending, as the pandemic continues to threaten the economy.

B2B 85

B2B Technology accounting and finance Finance 85

PYMNTS

JANUARY 21, 2021

Shenzhen will be continuing China’s digital yuan pilot program by issuing the digital currency to citizens, according to a report from XinhuaNet. There will be 20 million digital yuan (about $3.1 million) sent out in red envelopes for citizens to use to make purchases — and to promote the new form of currency, the report stated. Recipients will be determined by lottery, which will be done through a random drawing, as it has been before.

Legal 81

Legal Retail 81

PYMNTS

JANUARY 21, 2021

Despite the ongoing challenges of the pandemic as well as the costs of what has been dubbed “the first large bank merger of the digital age,” Truist Financial announced Thursday (Jan. 21) it had delivered a 20 percent increase in its fourth quarter earnings. The nation’s sixth-largest commercial bank, which was formed and finalized in December 2019 through the merger of BB&T and SunTrust, credited its record $1.6 billion profit to strong performance from its insurance, investment banking and

Real Estate 76

Real Estate Account accountant accounted 76

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