TaxConnex

NOVEMBER 3, 2020

There’s always something changing or new going on in the world of tax, especially sales tax. Here’s a review of some of the changes and updates that were announced in the last few months. In Alabama , tax licenses – including for sales tax, sellers use tax and the simplified sellers use tax – must be renewed annually as of Nov. 1. Arizona’s threshold for Transaction Privilege Tax (TPT) e-filing and paying lowers to $500 as of Jan. 1, 2021.

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PYMNTS

NOVEMBER 3, 2020

There’s no shortage of pain points to catalog from the past six months: A global pandemic, worldwide economic disruption, record-breaking unemployment, an invasion by murder hornets — the hits never seem to stop. But the running theme through all of the frustration that 2020 has created is uncertainty and the feeling that one never quite knows what’s going to happen next.

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Withum

NOVEMBER 3, 2020

Today we vote (or finalize the voting) for the members of the Electoral College who are pledged to follow the popular vote for President and Vice President in their state. The winner of the popular vote in each state determines who gets all of that state’s votes regardless of the closeness of the vote; there is no splitting of the electoral votes.

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NOVEMBER 3, 2020

In today’s top news in digital-first banking, digital payments network Zelle crossed over the one-billion transaction mark, while China’s tests of a digital yuan have processed over four million transactions. Plus, Bloomberg clients will now have the capacity to use the company’s terminal to look at Credit Benchmark’s risk data. Zelle Says P2P Payments Top One Billion Transactions.

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Katz,Sapper&Miller

NOVEMBER 3, 2020

As the Paycheck Protection Program has evolved, borrowers have become increasingly anxious as program parameters have seemingly changed mid-stride. With its recent introduction of the loan necessity questionnaires, the U.S. Small Business Administration continues to surprise borrowers with new requirements after loans have been issued.

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PYMNTS

NOVEMBER 3, 2020

To paraphrase the movie “Top Gun” … “We feel the need … the need for speed.” The payments ecosystem now prizes quickness above all things in a time of cash flow shortages, where each paper check takes an eternity — assuming it arrives at all. Clearly, paper checks aren’t cutting it anymore. We’ve evolved. It’s time to embrace it, especially for financial institutions (FIs) and adjacent players that intend to stay relevant in this market.

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PYMNTS

NOVEMBER 3, 2020

Amazon has to keep up fighting off price gouging on its eCommerce platform, as a new wave of COVID-19 infections has prompted more panic buying, Fox Business reported. The panic buying mirrors that of the very early days of the pandemic, with everyday products like paper towels, toilet paper and cleaning supplies seeing more demand. That has allowed some sellers to perform price gouging, setting the prices for those things inordinately high.

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Withum

NOVEMBER 3, 2020

Today we vote (or finalize the voting) for the members of the Electoral College who are pledged to follow the popular vote for President and Vice President in their state. The winner of the popular vote in each state determines who gets all of that state’s votes regardless of the closeness of the vote; there is no splitting of the electoral votes.

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PYMNTS

NOVEMBER 3, 2020

Comcast and Walmart are in talks to develop new smart TVs, according to a report from The Wall Street Journal reported Tuesday (Nov. 3), citing sources. The decision comes as Comcast vies to enter more into the streaming world, rather than the TV channels for which it has long been known. The agreement would have Walmart promote TV sets running Comcast software and get a cut of the revenues, according to the news outlet.

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FraudFiles

NOVEMBER 3, 2020

The most interesting cases I work are criminal cases for defendants accused of financial crimes such as money laundering, tax fraud, bribery and corruption, embezzlement, and investment fraud. I do my best work as a forensic accountant and fraud investigator in cases in which a trail of money must be followed through a complex web of people, entities, and bank accounts.

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forensic accounting cpas Government audit 52

Speaker: James Kahler, COO of Full Course

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PYMNTS

NOVEMBER 3, 2020

Hong Kong-based digital payment platform Statrys has recently landed $5 million in funding through a closed-door funding deal with an angel investor with the expectation that the firm will get market share in the expanding remittance and digital payment arena, according to an announcement. “This new financing will help us to accelerate the development of the company both in terms of products, with the addition of local currency accounts, payment card, integration with accounting software, and ge

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accounting and finance accounting software Finance business accounting 105

RitaKeller

NOVEMBER 3, 2020

Do you have an attendance policy? I have observed that many CPA firms do not have a clearly defined policy and if they do have one, it is doubtful that they are enforcing it. “ You need to have an attendance policy and enforce it, especially with so many employees now working remotely.” – Suzanne Lucas . Suzanne Lucas, aka Evil HR Lady, gives us reasons why such a policy is important in a recent article.

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cpa firm CPA accounting firms Account 40

PYMNTS

NOVEMBER 3, 2020

Digital-medicine company Teladoc Health recently turned to a trio of descriptives to characterize the current state of its business, which saw a third quarter bursting with triple-digit percentage gains in multiple areas. The company said it’s “exceeding expectations,” “building on momentum” and delivering “consistent growth” — all at once. If that wasn’t enough, just two days later, the completion of Teladoc’s $18.5 billion merger with Livongo hammered home the prospects for virtual healthca

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Withum

NOVEMBER 3, 2020

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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

NOVEMBER 3, 2020

A Russian cybercriminal was sentenced to eight years in prison for his role in a sophisticated Botnet conspiracy that caused estimated losses totaling more than $100 million, according to a Department of Justice (DOJ) statement on Tuesday (Nov. 3). Aleksandr Brovko, 36, formerly of the Czech Republic, pleaded guilty in February to conspiracy to commit bank and wire fraud.

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Withum

NOVEMBER 3, 2020

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PYMNTS

NOVEMBER 3, 2020

One of Sweden’s largest private insurers, Folksam Group , says a data breach affected one million of its clients. Folksam said it had accidentally allowed big tech companies to access customers’ private data, Bloomberg reported. Folksam shared client data with Facebook, Google, Microsoft, LinkedIn and Adobe, the Swedish company said in a statement on Tuesday (Nov. 3).

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Withum

NOVEMBER 3, 2020

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Technology

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NOVEMBER 3, 2020

Airbnb is earmarking 9.2 million shares to fund an endowment to support its hosts as the Silicon Valley unicorn prepares for an initial public offering (IPO), the company said in a recent statement. “As we prepare for Airbnb to become a public company, we want to institutionalize our commitment to hosting, and our investment in the host community,” said Brian Chesky, Airbnb co-founder and chief executive officer. .

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LyfeAccounting

NOVEMBER 3, 2020

?. Every year, more than 2 million taxpayers overpay their income taxes. And this isn’t just pocket change. Taxpayers are overpaying by close to $1 BILLION dollars. This could be due to poor tax planning, or because they’re missing some of the biggest business tax write-offs. Meanwhile, the top 1% are using the tax law to their advantage to minimize their tax liability, oftentimes leaving us clueless….

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PYMNTS

NOVEMBER 3, 2020

The future is looking a bit more golden for CORO Global. The company – and its gold trading app – just expanded its reach in the United States with the addition of a license to operate in Alabama. The Alabama Securities Commission on Tuesday (Nov. 3) granted the Miami-based CORO a money transmitter license, giving it a green light to do business in the state.

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PYMNTS

NOVEMBER 3, 2020

There's a new development in a decades old lawsuit after a jury in Tyler, Texas, ordered Apple to pay $502.8 million in royalties for infringing on VirnetX 's patented virtual private network (VPN), according to a Cult of Mac report. The original lawsuit , filed Aug. 11, 2010, alleged that Apple’s FaceTime and VPN On Demand features were using its patented technology.

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NOVEMBER 3, 2020

India's food and grocery landscape looks a lot different than it does in the United States. Unlike the U.S., big-box supermarket chains where consumers go to purchase a week or so worth of food items are not the norm. Instead, shoppers tend to purchase non-processed staples, like rice, every couple of days. The food and grocery supply chains within India look a lot different, too, with local mom-and-pop Kirana stores facing a fragmented market to procure the items they need for their customers.

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PYMNTS

NOVEMBER 3, 2020

In the end, we’ll be puzzling the answers to the big questions that loomed in 2020: What just happened? What will we change? What will it take? What will the future look like? Those questions could be posed to any number of events – the pandemic, of course, which has brought those same queries to all aspects of life, from the economy to the election….

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PYMNTS

NOVEMBER 3, 2020

If data is the oil that brings change to financial services, the pipelines are increasingly under scrutiny. Late last week, the Consumer Financial Protection Bureau (CFPB) said it will look to issue advance notice of proposed rulemaking on “open banking” by the end of this year. In other words, there may be a range of potential new rules coming into play in the U.S.

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PYMNTS

NOVEMBER 3, 2020

For Ant Group, for Alibaba, and for the biggest IPO ever, it’s a case of hurry up and wait. As noted by CNBC on Tuesday (Nov. 3), stock exchanges in Shanghai and Hong Kong have suspended the looming IPO (initial public offering) in Ant Group, citing regulatory changes in the financial services landscape — and summoning executives including controller Jack Ma to meet with Chinese regulators at the China Securities Regulatory Commission.

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Finance

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NOVEMBER 3, 2020

As China's Ant Group readies for its IPO — the biggest ever — founder Jack Ma wanted to clarify that the company is a tech firm, not a bank, Reuters reports. The classification is important for investors. Reuters writes that while Ant presents itself as a tech company, financial regulators have suggested it's under their umbrella. Ant benefits from the far more bountiful valuations tech firms can get rather than the ones usually allotted for financial institutions, and the company also hopes to

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Finance 78

PYMNTS

NOVEMBER 3, 2020

Contactless ordering and payment options have become crucial equipment for restaurants’ survival during the pandemic, and many eateries have had to scramble to acquire these capabilities. Quick-service restaurants (QSRs) that were behind the curve on digital technologies have quickly pivoted to enable touchless payments and delivery. One bakery chain had a leg up when the pandemic changed everything.

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PYMNTS

NOVEMBER 3, 2020

Lingering economic uncertainty and growing fraud rates in multiple markets are prompting consumers to sharpen their focus on privacy and security. Eighty-one percent of consumers in one recent study said that trusting brands was a major factor in determining whether they would interact with them, for example. Other reports highlight consumers’ changing perceptions regarding the privacy of their personal information, finding that 56 percent of Americans would like more control over their own digi

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California Government Finance Sales 77

PYMNTS

NOVEMBER 3, 2020

Meal kit delivery company HelloFresh doubled its orders in the third quarter and reached an all-time high of 5 million customers combined between the U.S. and the rest of the world, the company said in a Tuesday (Nov. 3) press release. Its third quarter also saw a record number of orders at 19.49 million, which was a 114 percent increase year over year.

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Advertisement

"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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