TaxConnex

DECEMBER 10, 2020

States may be getting tougher on sales tax delinquents as the pandemic drags on and tax revenues, in many places, take hits. Just ask Fiorella’s Landscaping in western New York. The Buffalo, N.Y.-area company must pay back more than $95,000 after pocketing sales tax money owed to the state, according to authorities. The company has paid nearly $69,000 in restitution for sales tax it collected and failed to pay to state coffers between June 2011 and December 2015.

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Sales Tax Ohio Nebraska 158

BurklandAssociates

DECEMBER 10, 2020

The COVID-19 pandemic has profoundly impacted the economy, but it has also had the unintended consequence of accelerating a range of hugely disruptive macro trends already in place. One of Read More. The post FinTech: The Startup Sector to Watch in 2021 appeared first on Burkland.

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PYMNTS

DECEMBER 10, 2020

Major U.S. retailers CVS and Walmart are readying to begin distributing COVID-19 vaccines, according to published reports. CNBC reported that CVS is ready to begin doling out the vaccines to the most vulnerable populations within 24 to 48 hours of receiving them. CVS CEO Larry Merlo said per CNBC that CVS has 10,000 healthcare professionals ready to administer the vaccines in nursing homes and assisted living centers.

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Healthcare Retail 118

ThomsonReuters

DECEMBER 10, 2020

PPACA; HHS Notice of Benefit and Payment Parameters for 2022 and Pharmacy Benefit Manager Standards; Updates To State Innovation Waiver (Section 1332 Waiver) Implementing Regulations; Proposed Rule, 45 CFR Parts 147, 150, 153, 155, 156, 158, and 184, 85 Fed. Reg. 78572 (Dec. 4, 2020); Notice of Benefit and Payment Parameters for 2022 Proposed Rule Fact Sheet.

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PYMNTS

DECEMBER 10, 2020

Pet retailer Petco is launching same-day nationwide delivery in partnership with DoorDash that can be accessed via a redesigned website and upgraded app. . "Consumers want more than a transactional relationship with the companies they do business with," Petco Chief Digital and Innovation Officer Darren MacDonald said in a Thursday (Dec. 10) press release.

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ThomsonReuters

DECEMBER 10, 2020

QUESTION: Everyone in the employee benefits field uses acronyms like CDHC, EAP, and TCJA. What do these and other employee benefit acronyms stand for? ANSWER: Here’s an explanatory list of common acronyms primarily used in our Cafeteria Plans, Consumer-Driven Health Care, ERISA Compliance, Self-Insured Health Plans, and Fringe Benefits manuals. (Next week’s Question of the Week will address acronyms primarily used in our COBRA, HIPAA, and Group Health Plan Mandates manuals, and the following w

income tax 90

income tax Tax Account accountant 90

ThomsonReuters

DECEMBER 10, 2020

IRS Webpage: Frequently Asked Question about COVID Relief for Van Pools (Dec. 3, 2020). Available at [link]. The IRS has posted an FAQ describing temporary relief from some of the conditions that ordinarily must be met for vanpooling benefits to be excluded from employees’ income. Generally, “vanpooling” means transportation between an employee’s residence and place of employment in a commuter highway vehicle.

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Transportation Tax Account accountant 85

PYMNTS

DECEMBER 10, 2020

Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. “Our payments tracking tool populates SWIFT gpi information into a view that can be read easily and acted upon immediately,” Tom Durkin, global product head for CashPro in global transaction services at BofA, said in a Thursday (Dec. 10) press release.

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ThomsonReuters

DECEMBER 10, 2020

When thinking about advisory and succession planning, many firm owners may wonder why they should make the shift when they’re so close to retirement. However, the market is in a transition as well. Adding advisory to your services can only benefit the future of your firm and the legacy you leave behind.

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auditor cpas CPA Start-ups 72

PYMNTS

DECEMBER 10, 2020

At a time when pretty much everyone is longing for a return to normalcy and the way life used to be, at least one top banking technology leader says the pandemic has brought about so many positive changes in such a short period of time that there’s no turning back. And that’s a good thing, Sara Castelhano, J.P. Morgan ’s managing director and EMEA head of payments and solutions, said in a recent interview with Karen Webster.

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Technology Construction Start-ups Government 103

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.

ThomsonReuters

DECEMBER 10, 2020

2020 Form 5500, Schedules, and Instructions. Form 5500 Series. News Release. The DOL, IRS, and PBGC have released informational copies of the 2020 Form 5500 series, including Schedules and Instructions. (As a reminder, these copies cannot be used for filing; with very limited exceptions, Form 5500 must be filed electronically.) Here are highlights of changes relating to welfare and 401(k) plan filings: One-Participant Plans and Foreign Plans Must Use Form 5500-EZ.

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audit Tax Account accountant 52

PYMNTS

DECEMBER 10, 2020

The social commerce category is finishing the year with a flourish. New announcements from Instagram , L’Oréal and Snap lead the way, as consumers find new ways to shop from shared videos and social posts. Instagram’s announcement that it will make its Reels feature shoppable is a clear response to TikTok’s popularity and the latest in Facebook’s corporate push toward more commerce and video.

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FraudFiles

DECEMBER 10, 2020

Would you recognize the clues that your client has been ripped off by one of its employees? Or would management conduct business as usual, blindly trusting their employees? Companies make the mistake of not actively searching for fraud. They tend to trust their employees and trust the procedures in place to safeguard company assets. It may be good business to trust employees and empower them to make real contributions to the growth of the company.

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PYMNTS

DECEMBER 10, 2020

The Department of Health and Human Services has reportedly signed on many supermarket and pharmacy chains to provide coronavirus vaccines once the inoculations get the green light. In eCommerce, Amazon ’s third-party merchants are worried they won’t be able to satisfy holiday demand due to restrictions on the volume of inventory the firm can keep in its facilities.

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Retail 102

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

IgniteSpot

DECEMBER 10, 2020

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PYMNTS

DECEMBER 10, 2020

Platform companies are all the rage on Wall Street. Airbnb, in only the latest example, priced its initial public offering (IPO) on Thursday (Dec. 10) far above initial targeted ranges. The company’s shares come to market at $68 a share. That compares with a reported range of $44 to $50, as of earlier this month. The splash — with trading yet to begin — follows the DoorDash IPO that debuted this week, where shares soared more than 80 percent in their first day of trading.

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Start-ups 99

RitaKeller

DECEMBER 10, 2020

“Start from wherever you are and with whatever you’ve got.” – Jim Rohn. If you want your firm to be a place where communication flourishes, then you (no matter what your role) must constantly work on your own communication skills. Sometimes it is called the Art of Communication and that title is meaningful. Per Jim Rohn, there are many tools available to you as you communicate; you just have to be aware of them and then use them purposefully.

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PYMNTS

DECEMBER 10, 2020

Bank of America customers are spending more across all accounts than they did last year, but more stimulus is needed to support small businesses and people who are unemployed, according to CEO Brian Moynihan. “When you look at what they’re spending year-to-date, they’ve spent more in 2020 than they did in 2019, and that is now across $2.7 trillion in money moved by our consumers,” Moynihan told CNBC.

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Technology

Withum

DECEMBER 10, 2020

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PYMNTS

DECEMBER 10, 2020

It has been suggested that millennials are averse to having and using credit cards. New PYMNTS research shows such assumptions are off-base, however, as is often the case with generational stereotypes. Millennials are in fact as likely as other generations to have credit cards, with nearly nine out of 10 having at least one card, according to PYMNTS’ latest research.

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SkagitCountyTaxServices

DECEMBER 10, 2020

2021 is hurtling at us, isn’t it? May it ever come sooner. Well, except for this part: I’m here to remind you that while we can (and, often, do) do wonders with “after the fact” tax return information, the best work we can do for you and your Skagit County business is to help you get ahead of the upcoming filing season, and plan now for how to best position your income, assets, and other revenues for the most favorable tax positions possible.

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payroll tax CPA Tax tax preparation 65

PYMNTS

DECEMBER 10, 2020

Consumers were forced to swiftly adapt to a world where their primary way to interact with businesses or banks became digital-first, with the pandemic seemingly increasing the number of consumers turning to digital tools to conduct their financial activities. PYMNTS research found that fi­nancial institutions (FIs) in the United States alone saw a 60 percent increase in the amount of consumers who downloaded mobile banking apps in April and May, for example.

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Start-ups New York financial accounting Technology 93

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PYMNTS

DECEMBER 10, 2020

North Lane Technologies and daVinci Payments said they have finished their merger, making a "high-growth, premier payment company with innovative technology and solutions," according to a Thursday (Dec. 10) announcement. They now operate together under the Syncapay brand umbrella via a holding firm created with a new majority equity investment from funds that Centerbridge Partners advises, according to the announcement.

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PYMNTS

DECEMBER 10, 2020

TSYS , a payment processing company, has suffered a ransomware attack and had some data posted online, according to a report from Krebs on Security. Krebs said the attackers have said they plan to publish more in the coming days. However, TSYS said the malware didn't jeopardize card data and that the attack had only targeted the company's administrative wing.

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PYMNTS

DECEMBER 10, 2020

Several companies, including Twitter , are urging European Union regulators to “defend the Open Internet.” The move comes as the EU is working on a European Democracy Action Plan and the closely watched Digital Services Act. The legal framework for digital services has been largely unchanged in the region for about 20 years. Twitter, Mozilla, Automatic and Vimeo said in an open letter that these new rules “will either renew the promise of the Open Internet or compound a problematic status quo –

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Technology Legal Tax 90

PYMNTS

DECEMBER 10, 2020

Procure-to-pay is a complex workflow often involving multiple systems, processes and parties that must all coordinate to move items and money to where they need to go. Procurement within the healthcare industry is perhaps more complex than most sectors thanks to an array of factors, but when the pandemic hit, many of the typical challenges exploded into insurmountable hurdles.

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Healthcare accounts payable Hospitality Spend Management 87

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Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

Finance

PYMNTS

DECEMBER 10, 2020

Consumers and microbusinesses have access to many disbursement options, yet they receive a significant share through legacy methods such as paper checks or digital methods that are non-instant. This is despite the fact that these consumers and microbusinesses on the receiving end value faster access to funds and want them to arrive on the same day they are sent.

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Education 87

PYMNTS

DECEMBER 10, 2020

PSCU , a payments credit union service organization (CUSO), has rolled out its Digital Issuance solution in an effort to keep bolstering the credit union (CU) member experience, according to a Thursday (Dec. 10) announcement. The offering, which is now available to owner CUs, provides continuous and smooth payment experiences and lets cardholders keep transacting online even if they don’t have their tangible cards, according to the announcement.

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PYMNTS

DECEMBER 10, 2020

The need for financial services providers to properly verify potential customers? identities took center stage in 2012 — the year HSBC, Europe?s largest bank, was fined nearly $2 billion for allowing $881 million in laundered cash to pass through accounts linked to Mexican drug cartels. The London-based bank?s executives avoided potential jail sentences.

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online accounting Account accountant accounted 80

PYMNTS

DECEMBER 10, 2020

The COVID-19 crisis that began in March is leaving an indelible mark on the world. The World Health Organization (WHO) officially declared the outbreak to be a pandemic on March 11, but it took weeks for U.S. businesses and consumers to comprehend how dramatically the crisis would affect their lives and work habits. Office spaces closed and the employees who once occupied them headed home, where many have remained since. .

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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.

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