Tue.Dec 08, 2020

article thumbnail

5 Myths About Voluntary Disclosure Agreements

TaxConnex

Voluntary disclosure agreements (VDAs) can be an effective way to mitigate prior period sales tax exposure. They can also come with a lot of misconceptions. If you don’t disclose back taxes and they’re unearthed through an audit, you could end up being assessed various penalties plus interest plus all tax due. And in extreme cases, the penalty could be in excess of 50% of the tax amount – potentially a criminal offense.

audit 130
article thumbnail

Pet Scams Rise As Holiday Buyers, At-Home Workers Seek New Pets

PYMNTS

It’s one of the most timeless holiday moments and unforgettable gifts; unwrapping a giant box to reveal the adoring eyes of a new puppy or kitten. But that priceless present could turn into a costly surprise, the Better Business Bureau warns , due to an exponential increase in pet scams this year that has left would-be owners heartbroken and several hundred dollars poorer too.

account 110
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Hard Work & Dedication Pays Off

RitaKeller

“Amateurs sit and wait for inspiration, the rest of us just get up and go to work.” – Stephen King. Perhaps you are new to the CPA profession. Don’t think for a minute you will be stuck in a dead-end job for years to come! If you have the passion for what you do and the drive to always strive to improve yourself, the sky’s the limit.

Arizona 52
article thumbnail

Modal, Honda Collaborate On Financing For eCommerce Platform

PYMNTS

The surge in automotive online purchasing traffic sparked by the pandemic has led to increased demand for eCommerce. Hence the popularity of Modal’s automotive eCommerce platform, underlying the announcement Tuesday (Dec. 8) of a $15 million Series A financing. It is led by Modal’s newest automotive partner, American Honda, with existing investors participating in and completing the round.

Finance 101
article thumbnail

Planning Your Restaurants Path to Profitability

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.

article thumbnail

G-III Apparel Group Reports 26.7 Pct Drop In Net Sales

PYMNTS

G-III Apparel Group , whose owned brands include DKNY and G.H. Bass, among others, reported Tuesday (Dec. 8) that net sales plunged 26.7 percent as its Wilsons Leather and G.H. Bass brands suffered. The company also warned that it expects Q4 sales to come in at roughly 30 percent below year-ago levels. “As the developments associated with the COVID-19 pandemic continue to be fluid and there is significant uncertainty related to its impact, the Company is not currently providing any additional gu

Sales 96
article thumbnail

Rakuten In-Store Network Implements Offers In Google Pay

PYMNTS

The Rakuten In Store Network has turned on offers in Google Pay, allowing users of the payment method to receive cash back on promotions connected to their cards for eCommerce and brick-and-mortar purchases, according to a Tuesday (Dec. 8) announcement. Josh Woodward , director, Google Pay, said in the announcement that the Google Pay platform provides chances for retailers to provide more in-depth shopper engagement “in creative ways with offers, rewards, and customized, dynamic content.”.

Alaska 95

More Trending

article thumbnail

Restaurant Industry: Over Half-Million Eateries In ‘Economic Free Fall’

PYMNTS

Over 110,000 restaurants have shuttered since the start of the COVID-19 pandemic and another 500,000-plus establishments are in an "economic free fall," the National Restaurant Association said in a letter to Congress. The letter included findings from a new National Restaurant Association Research Group survey that revealed a steep industry decline that will only get worse if a relief package isn’t passed soon.

Sales 90
article thumbnail

Square’s Cash App Launches Apparel Collection

PYMNTS

Square’s digital wallet startup Cash App has introduced its first apparel collection, Cash by Cash App , The Wall Street Journal reported on Tuesday (Dec. 8). “What is more plausible is that this could be a test for a closed-loop eCommerce checkout button,” Mizuho’s Dan Dolev wrote in a recent note, per WSJ. . Cash App’s gross payment volume was $2.9 billion in the third quarter, up 332 percent from 2019, the company said last month.

Retail 90
article thumbnail

Love And Loyalty: David’s Bridal Launches First Rewards Program

PYMNTS

It was Frank Sinatra who sang the great line about love and marriage: “You can’t have one without the other.” The marketing team at David’s Bridal might like to add to that lyric. Because as of Tuesday (Dec. 8), they would say that loyalty must be added to love to make a marriage, as the company launches the first rewards program in its 70-year history.

Retail 86
article thumbnail

Report: Digital ID and Video-Based KYC Help Lenders Onboard SMBs

PYMNTS

. Traditional bank account opening methods have long involved visits to branches and face-to-face meetings with officials in which physical identification documents are presented. These methods were rife with frictions and challenges even before the pandemic began, but now they also carry health risks due to the potential for viral infection. Many of these processes had begun to shift to digital channels within the past several years, however, and the health crisis has caused the online shift t

article thumbnail

How Automation is Driving Efficiency Through the Last Mile of Reporting

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

article thumbnail

Grubhub Offers Restaurants New Tools For Commission-Free Ordering 

PYMNTS

Online food delivery platform Grubhub is providing restaurants with new tools for commission-free orders as the second wave of the pandemic triggers new dining room closures and capacity restrictions. . “It’s never been more important than right now for Grubhub to find and develop ways for our independent restaurant partners to serve their customers and drive online orders,” Seth Priebatsch , chief revenue officer of Grubhub, said in a company blog post on Tuesday (Dec. 8). .

article thumbnail

Ivalua Teams With Tealbook To Bolster Data On Suppliers

PYMNTS

Cloud spend management company Ivalua and supplier data company Tealbook Inc. have joined forces to offer a smooth experience in connecting Ivalua's source-to-pay infrastructure with Tealbook's vendor intelligence infrastructure. The relationship lets clients locate new vendors and find detailed, accurate data, such as certifications, compliance and diversity status, among other kinds of information, according to a Tuesday (Dec. 8) announcement.

article thumbnail

American Airlines Offers Preflight COVID Tests For US Destinations

PYMNTS

American Airlines on Tuesday (Dec. 8) rolled out plans to offer preflight COVID-19 testing in the United States as battered airlines seek ways to lure back wary travelers. In a move to help prevent U.S. passengers from getting stuck in coronavirus quarantines after they land in another city or state, American said it will begin offering the at-home test kits starting Wednesday, Dec. 9.

article thumbnail

Digital Approaches To Retail And Corporate Spend

PYMNTS

Walgreens has followed in the footsteps of Walmart and Amazon to join the retailer-as-ad-agency trend , while BigCommerce recently launched Open Checkout to let developers, retailers and partners create tailored checkout experiences. In merchant innovation, an increasing share of consumers are tapping into mobile devices and laptops to do their shopping or make their journeys to physical retail stores more efficient.

Retail 74
article thumbnail

No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

article thumbnail

Dispute Resolution Set To Fight Expected Pandemic-Driven Fraud

PYMNTS

As the holiday shopping season kicks into high gear amid an unprecedented pandemic-era surge in online shopping, banks and merchants are bracing for an associated spike in fraud , disputes and chargebacks. It’s a costly and time-consuming problem that stresses out merchants and customers alike, but it’s also one that experts like Ethoca ’s Keith Briscoe say is frequently avoidable.

73
article thumbnail

Getting Stimulus Payments To Consumers; Lessons From Round One

PYMNTS

Stimulus payments are again in the headlines and on the horizon. But how consumers will get those payments — hundreds of millions of payments, covering hundreds of billions of dollars — well, that’s open to some discussion. And if past is prologue, as the Hill wrangles over who gets paid, how much and when, the disbursement process will be messy. That points to the need to go digital.

article thumbnail

Bitcoin Daily: France Eyes Strict Rules For Crypto Transactions; Messari Report Says US Last Hurdle For Bitcoin

PYMNTS

France could propose stricter regulations on cryptocurrency firms, according to The Block. Simon Polrot, president of French crypto association ADAN, told The Block that the country’s Finance Ministry is planning to require full know-your-customer (KYC) measures for all crypto transactions, regardless of the size of the transaction, and mandatory registration for all crypto-to-crypto exchanges.

Finance 70
article thumbnail

Trulioo Parody Video Implores ‘Don’t Stop Verifying’ Online Identities

PYMNTS

More and more, retailers and businesses around the world are trying to figure out if potential customers are really who they say they are. A new comedy video from Trulioo features some fraudster favorites, such as the innocent girl from Nigeria. “Oh, the stories never end,” — and they’re coming from “unknown people” around the world, the rockin’ cast tells us.

Retail 70
article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

article thumbnail

Europe’s Fabrick And Nets Link Up For Instant Payments Expansion

PYMNTS

Fabrick, which provides an open banking platform, and Nets , an instant payments company, are partnering “for joint product and business development.” By combining forces, the companies “aim to develop innovative solutions that deliver new revenue streams for new and existing clients,” Nets announced in a Tuesday (Dec. 8) press release. “This is a compelling initiative for Fabrick.

account 70
article thumbnail

Walmart Mexico Eyes App Enhancement To Keep Money Transfers In-House

PYMNTS

At a time when the pandemic has seen a massive shift toward digital commerce, the Mexican arm of Walmart – the world’s largest retailer – is looking to leverage the river of remittances that its customers receive from the United States, and to keep more of that cash in-store. Although Walmart already offers money transfer services such as Western Union and MoneyGram , the famed low-cost leader is looking to produce an in-house model that can do it more cheaply.

Retail 69
article thumbnail

Robinhood In Talks With Goldman On Possible 2021 IPO

PYMNTS

Robinhood Markets , the popular stock trading app, is working with Goldman Sachs for its initial public offering (IPO) preparations, which could value the company at $20 billion, Reuters reported. The IPO could come out next year, Reuters reported, citing sources, who also said the exact timing would be subject to market conditions. In its last private fundraising round in September, Robinhood was valued at $11.7 billion, and a $20 billion value would show the growth in the company's platform, w

article thumbnail

Merchants Worry That Amazon Stocking Restrictions Will Chill Holiday Sales

PYMNTS

Amazon third-party sellers are worried that they won’t be able to meet holiday demand because of restrictions on the amount of inventory the eCommerce giant can store in its warehouses, according to CNBC. In August, Amazon instituted tighter quantity limits on third-party sellers that use its Fulfillments by Amazon, or FBA, service to ship packages.

Sales 69
article thumbnail

Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

article thumbnail

DoorDash IPO Price May Come In Higher Than Targets

PYMNTS

DoorDash is likely to price shares for its initial public offering (IPO) at $102 apiece, which would come out to a total of $39 billion, according to a report from The Wall Street Journal (WSJ). The estimates use a fully diluted share count and include proceeds from the offering, which raised $3.37 billion, WSJ reported. The price is above the $90 to $95 threshold DoorDash had been targeting, WSJ reported.

Gaming 69
article thumbnail

Today In Digital-First Banking: Open Banking Provider Fabrick Teams With Nets; Societe Generale, Credit du Nord To Merge Retail Banking

PYMNTS

In today’s top news in digital-first banking, open banking provider Fabrick is collaborating with instant payments company Nets, while Societe Generale and Credit du Nord have approved a plan to combine their retail banking operations. Plus, Social Finance (SoFi) is reportedly in talks about selling to a blank-check company. . Europe’s Fabrick and Nets Link Up for Instant Payments Expansion.

Retail 68
article thumbnail

Toyota Material Handling To Provide Dealers With Billtrust AR Software

PYMNTS

Toyota Material Handling (TMH) has teamed with Billtrust to provide 230 dealers with access to the latter firm's invoicing, collections, payments and cash application software in addition to the Business Payments Network, according to a Tuesday (Dec. 8) announcement. TMH Director of Dealer Development Anne Ewing said in the announcement that it is pivotal for the company’s dealers to harness the present day’s virtual and automated payment offerings.

B2B 68
article thumbnail

With Capped Fees, Dining Aggregators May Face Tough Post-Covid Future 

PYMNTS

There’s the old joke: A business loses money on every sale. But the owner has a smile on her face – and when asked what the plan is to be profitable, to make a real go of it, she grins and states…. “We’ll make it up in volume.”. The joke, like so many, offers a glimpse into reality – in this case, what may be a stark reality facing delivery aggregators as they navigate the pandemic.

article thumbnail

Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

article thumbnail

Apple Privacy Crackdown Spells Trouble For Google, Facebook

PYMNTS

App developers who don’t comply with Apple’s new privacy features could wind up getting the boot from the tech giant’s popular App Store. A top Apple executive on Tuesday (Dec. 8) told Reuters the new privacy protection, which enable users to block advertisers from tracking their online movements, is slated to go into effect early next year. And App developers who don’t seek their users' “explicit permission” to allow tracking by advertisers could find their apps barred from Apple’s App Store, C

Gaming 63
article thumbnail

Retail Will Play Major Role In Vaccine Distribution

PYMNTS

The vaccines are locked and loaded. Now comes the hard part. As various governmental agencies, healthcare organizations and drug companies step up their efforts to get vaccines distributed, it looks like retail will have a major role to play. According to The Wall Street Journal , the U.S. Department of Health and Human Services has signed on dozens of grocery and pharmacy chains to provide COVID-19 vaccines once the inoculations are approved by the Food and Drug Administration.

Retail 60
article thumbnail

Unit Raises $18.6 Million For Banking Integration

PYMNTS

Unit has raised $18.6 million in a funding round to go toward the startup's goal of providing a way for third parties to integrate banking services through an application programming interface (API), according to a report from TechCrunch. Unit's services encompass features like payment cards, checking accounts, cash advances and money transfers, letting companies integrate them into their own businesses, the report stated.

article thumbnail

Reliance Says It Will Roll Out 5G In Late 2021

PYMNTS

Reliance Jio Infocomm will debut 5G high-speed internet in India starting in the second half of 2021, a report from LiveMint.com says, quoting Chairman Mukesh Ambani. Ambani, speaking at the fourth edition of the India Mobile Congress, said the solution for fifth-generation wireless service would be built indigenously. Ambani also added that the country required policy developments for early 5G implementation.

article thumbnail

How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.