Stax
NOVEMBER 14, 2024
There are also risk holds—a routine procedure that most companies experience within the first few weeks of processing with a new merchant services account. Be aware of monthly minimum fees, statement fees, batch fees, next-day funding fees, annual fees, IRS report fees, and others on your statement each month.
PYMNTS
JULY 23, 2020
The heightened speed at which the payments will come is based around the procedures, online tools and bank account information that were not present during the hasty rollout of the first payments, new at the time due to the pandemic’s rapid onset. About 80 million of the 160 million payouts were direct deposited in the first round.
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PYMNTS
JUNE 29, 2020
The number of tax audits on corporations plunged amid the pandemic, with the IRS saying in the National Taxpayer Advocate’s “Objectives Report to Congress” report for Fiscal Year 2021 that it began 716 corporate examinations from April 1 to June 1 this year compared to 2,445 during the same time last year, a 71 percent drop.
PYMNTS
NOVEMBER 12, 2019
To that end, in the United States, the Internal Revenue Service (IRS) has said that huddling with other tax authorities across the globe has helped train a spotlight on how to detect and thwart tax evasion efforts. The IRS said it has identified “dozens” of tax evasion suspects in the wake of these new tactics.
FICO
OCTOBER 26, 2017
In 2010 the IRS (Internal Revenue Service) started to define the details of FATCA (Foreign Account Tax Compliance Act). This process was completed in February 2014 with an agreement on a common reporting format between IRS and OECD (Organization for Economic Co-operation and Development), FATCA reporting Form 8966.
Payment Savvy
DECEMBER 7, 2023
It’s important to note that while HSAs are flexible, they are governed by specific rules on what constitutes a qualified medical expense, as defined by the IRS. However, understanding the qualifying criteria is crucial to ensure that you’re using your HSA funds appropriately and in alignment with IRS guidelines.
PYMNTS
JULY 26, 2018
In a letter sent to the International Revenue Service (IRS) and the Treasury Department, the AICPA said tax reform legislation must provide clarity in how SMBs approach accounting compliance. The letter outlined eight recommendations for the Tax Cuts and Jobs Act.
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