PYMNTS

JANUARY 27, 2020

Legacy technology issues abound these days, but for sheer scale (and a good giggle) always look to the government. These stories of inefficiency and overspend are usually epic and sometimes humorous, but there’s nothing funny about the torpor affecting state and local government disbursements. Illinois printed and mailed $1.3

Faster Payments 52

Faster Payments Governance Government Tax Refunds 52

PYMNTS

NOVEMBER 15, 2018

The Internal Revenue Service (IRS) is paying $1.7 government collected approximately $4.7 As a result, the IRS has hired The MITRE Corporation to help process the large sum of cash tax payments. MITRE and the IRS declined to provide additional details regarding their contract. “I According to Quartz , the U.S.

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IRS Legal Government Governance 83

Fintech Finance

OCTOBER 24, 2024

Government impersonation scams: Consumers are falling victim to scams where fraudsters pose as representatives from the government, including agencies like the USPS, the FBI and the IRS. In the first three months of 2024, the average government impersonation scam victim in the U.S.

Scams 90

Scams Ransomware Government Governance 90

PYMNTS

APRIL 27, 2020

Those who had trouble utilizing the IRS’ “Get My Payment” web tool to access their personal stimulus funds may now find it easier to use after updates were made, per reports. According to the IRS, the updates will make it easier for individuals to add direct deposit information and check the status of their funds.

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IRS Checks Direct Deposit Social Security 61

PYMNTS

MAY 28, 2020

The Internal Revenue Service ( IRS ) wants to make sure you don’t throw out your prepaid $1,200 government stimulus debit card. The Treasury issued 4 million stimulus payments by debit card as part of a program to help get stimulus pay out to Americans who didn’t have bank information on file for the last few years with the IRS.

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IRS Bureau of the Fiscal Service Debit Card Treasury 65

The Fintech Times

OCTOBER 18, 2024

The 2024 edition also plans to introduce a bespoke Corporate-Access event with First Abu Dhabi Bank (FAB) having already joined the initiative with a lead role in facilitating meaningful connections between IR officers and Investors from both local and international Buy-Side.

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IRS Returns Facilitators AI 52

PYMNTS

JULY 26, 2019

The Internal Revenue Service (IRS) is going to send letters to about 10,000 cryptocurrency holders warning them about the penalties they will face if they don’t report their income or pay taxes on the transactions, according to a report by The Wall Street Journal. The letter also said the IRS may be in touch with them.

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IRS Digital Currency Cryptocurrency Laws 51

PYMNTS

JULY 15, 2020

A former Coinbase user, Jim Harper, is looking to protect his privacy from the IRS through a lawsuit, CoinDesk reported. Now, Harper is suing the IRS, its commissioner and up to 10 unnamed agents, saying that if the IRS illegally accessed his data, he wants it destroyed.

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IRS Encryption Privacy Law Enforcement 61

PYMNTS

FEBRUARY 19, 2020

The IRS has invited cryptocurrency groups to meet for a regulatory summit March 3 to discuss how the two can work together going forward, published reports said Tuesday (Feb. The overall theme will be balancing taxpayer services with the IRS’ regulatory needs.

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IRS Cryptocurrency Money Laundering Digital Currency 67

PYMNTS

AUGUST 7, 2019

Data breaches’ stakes are sky high for corporations, meaning ID security is even more important to the United States federal government. Applying government ID security practices to the private sector. Convenience can go too far, however, resulting in lackluster ID security in both the government and private sectors.

Multifactor Authentication 47

Multifactor Authentication Governance Government Data Breach 47

Fintech Review

OCTOBER 22, 2024

Governments are still grappling with how best to tax digital assets, creating regulatory hurdles and uncertainties for taxpayers globally. This has led to significant taxation challenges as governments attempt to classify, track, and tax these assets.

Cryptocurrency 97

Cryptocurrency Laws IRS Regulations 97

PYMNTS

SEPTEMBER 21, 2020

Incomplete government records could have resulted in around 8.7 million Americans miss $1,200 payments, according to a government watchdog, the Associated Press reported Monday (Sept. The latest Government Accountability Office (GAO) report also called for better guidance on how to reopen schools.

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Checks IRS Returns Government 91

PYMNTS

APRIL 9, 2020

Americans could start receiving COVID-19 stimulus money from the federal government as early as Thursday (April 9) or Friday, according to reports. The first round of emergency assistance is expected to reach people who have previously provided direct deposit information to the Internal Revenue Service (IRS). Debbie Dingell (D-Mich.),

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IRS Direct Deposit Social Security Accounts 102

PYMNTS

SEPTEMBER 14, 2020

The United States may have some of the world's best cryptographers working for the National Security Agency and other spy shops, but the Internal Revenue Service (IRS) is crowdsourcing at least part of its effort to beat the algorithms that cloak information about certain cryptocurrencies.

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IRS Blockchain Cryptocurrency RFP 64

The Paypers

OCTOBER 11, 2018

(The Paypers) The Government Accountability Office (GAO) has agreed that the Internal Revenue Service’s (IRS) needs to start looking ahead to new identity verification technologies.

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IRS Authentication Verification Governance 31

PYMNTS

APRIL 18, 2016

The news comes as a result of testimony from Nina Olson, the agency’s national taxpayer advocate, delivered to a House panel focused on government operations. This is a pilot program under consideration, said Olson. Perhaps predictably that would-be pilot program has already drawn some criticism. In questioning, Rep. Is that correct?”.

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IRS Payments Government Governance 40

PYMNTS

MARCH 21, 2017

The Internal Revenue Service (IRS) continues its efforts to gain access to United States Coinbase customer accounts, filing new documents in federal court to get the California-based company to turn over the records. The IRS filed its initial request — known as a “John Doe” summons because it doesn’t name a specific person — in November 2016.

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IRS Bitcoin Digital Currency Assessments 40

PYMNTS

JULY 7, 2017

According to a report in Fortune , the IRS said last week in a hearing over its fight with anonymous bitcoin buyers that it has been talking to Coinbase about limiting the information it needs to search for unreported income. The IRS , according to the report, contends only 802 people claimed gains or losses from bitcoin in 2015.

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IRS Bitcoin Legal On-Demand 40

Segpay

FEBRUARY 28, 2024

Merchant Acquirers/Payment Facilitators must issue 1099-Ks to the government and a copy to all of its merchants by January 31, 2024, for processed funds in 2023. It is a way for the government to ensure merchants report their gross revenues properly. For the rest of the taxpayers across the U.S.,

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IRS Returns Facilitators Acquirers 52

Fintech Finance

MARCH 27, 2024

This has nationwide economic implications given the IRS reports 26-to-34-year-olds file more taxes than any other group. independent professional tax preparers or the IRS website. These behaviors reflect growing mistrust of professional tax institutions and a generational shift toward personal networks and digital payment platforms.

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IRS Alternative Payment Methods Real Time Payments Payments 52

PYMNTS

APRIL 7, 2016

PayNearMe, which helps connect government agencies to cash payments, said on Wednesday (April 6) that, for the first time, U.S. Today’s consumers want convenience, as evidenced by the more than 75 percent of IRS electronic payments that are made through OfficialPayments.com via online or a mobile browser. ”

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IRS Online and Mobile Banking Payer Credit Cards 40

PYMNTS

DECEMBER 29, 2016

The Internal Revenue Service has asked a court to dismiss a motion filed by a Coinbase user who wants the court to block the IRS from accessing transaction data. According to a report by Forbes , the IRS, in a motion filed on Tuesday (Dec. Berns , sued to get that ruling set aside, and now, the IRS had its turn with the courts.

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IRS Blocks Payer Rules 43

PYMNTS

APRIL 5, 2020

The IRS will be using federal tax returns from 2018 or 2019 to determine eligibility. People earning less than $75,000 (or $150,000 for married couples) are entitled to get one-time government stimulus checks of up to $1,200 for individuals or $2,400 for joint-filers. There are roughly 10 million people in the U.S.

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IRS Returns Checks Direct Deposit 91

PYMNTS

DECEMBER 15, 2020

21, meaning many l ow-income families were the last to receive stimulus funding from the IRS. This reveals that shifting from paper checks to faster, digital payment methods could be key for the IRS and other agencies as they seek to send funds to financially strapped consumers. The stimulus payment deadline for U.S.

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IRS Instant Payments Government Governance 69

PYMNTS

MAY 6, 2020

Online betters are unlikely to be satisfied waiting the five days it takes for an ACH settlement or even through paper check sent through the mail, a problem United States government entities are also dealing with as they attempt to send out anticipated stimulus checks to citizens. Around The Disbursements Worl d.

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IRS Checks Blocks Governance 88

PYMNTS

JANUARY 6, 2021

Some H&R Block and TurboTax users did not get the new stimulus payment because it was directed by the IRS to an unfamiliar bank account, sources told CNBC. Those users were looking for deposits on the IRS Get My Payment tool. According to the IRS, any bank getting erroneous payments will kick the monies back to the government.

Blocks 71

Blocks Checks IRS Direct Deposit 71

PYMNTS

JUNE 8, 2020

government, The Block reported. Drug Enforcement Association (DEA) and Internal Revenue Service (IRS) looking to buy the license, according to documents seen by The Block. The purchase, according to the IRS document, would be useful to help keep ahead of crimes related to cryptocurrency and digital banking.

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IRS Distributed Ledger Technology (DLT) Blockchain Cryptocurrency 52

PYMNTS

DECEMBER 22, 2020

According to the IRS, they'll use the same Direct Deposit details as they did the first time, the release stated. John Kunze , PayPal's senior vice president of Branded Experiences, said the company wants to be of use during the pandemic. "In

Checks 113

Checks PayPal Direct Deposit Venmo 113

PYMNTS

APRIL 29, 2020

Treasury Secretary Steve Mnuchin says $1,200 stimulus checks from the government were sent in error , and relatives and family members should return the money. It’s unclear exactly how many of those checks were sent, and the IRS could take any number of actions to try and get back any payments it believed were made in error.

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Checks Treasury IRS Returns 56

PYMNTS

APRIL 30, 2020

mail that included some $12,000 in government stimulus checks, other checks and credit cards, authorities said. Feng Chen, 31, of Brooklyn, New York, was charged with alleged theft of U.S. Donoghue, U.S. He was arrested after police found an open bench warrant in his name for criminal charges involving identity theft in New York County. .

Checks 56

Checks IRS Identity Theft Credit Cards 56

Payment Savvy

JULY 18, 2023

An employer identification number, or EIN, is a unique, nine-digit number issued by the Internal Revenue Service (IRS). It serves as a way for the IRS to track and communicate with taxpayers. If you look through your previous tax returns or other documents issued by the IRS, you’ll be sure to spot them.

IRS 52

IRS Database Consulting Verification 52

PYMNTS

JULY 15, 2020

According to NPR , the Internal Revenue Service (IRS) has a tough road ahead as it attempts to process returns amid worsening pandemic conditions. The vast majority of Americans – 90 percent, according to the IRS’ latest tally – now file and pay their taxes digitally. The problem, in a word, is paper.

IRS 58

IRS Tax Refunds Returns Process 58

PYMNTS

APRIL 15, 2020

Walmart is hoping customers will sign up for its Walmart MoneyCard to create a direct deposit account to access the government stimulus payments being sent out this week, touting waived fees and quick access, according to an emailed press release. The retail giant said the process would be safe, easy and affordable.

Checks 98

Checks Direct Deposit Accounts IRS 98

PYMNTS

DECEMBER 9, 2016

At a time when the IRS is trying to find out the identities behind bitcoin users, the Pennsylvania Allegheny County District Attorney’s office revealed it had to use bitcoin to pay a ransom to get its data back. Department of Justice, the Northern District of California court is allowing the IRS to serve a summons to Coinbase for U.S.

Bitcoin 80

Bitcoin IRS Audit Rules 80

The Finance Weekly

FEBRUARY 10, 2024

The IRS doesn't tolerate late payments. The final day of tax document submission to the IRS. Recognize Tax Forms These are a few ,, IRS forms you might need to report taxes. For a detailed list, you can visit the IRS website. If you're having trouble paying on time, contact the IRS early to discuss a payment plan.

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IRS Social Security Returns Non-Bank 52

PYMNTS

MAY 5, 2019

The calls, which came in the form of letters sent to the IRS and FTC from presidential hopefuls Senator Elizabeth Warren and Bernie Sanders among other lawmakers, stem from allegations the companies didn’t promote free government tax preparation options to customers, reported CNBC.

Blocks 43

Blocks FTC IRS Federal Trade Commission 43

EBizCharge

NOVEMBER 12, 2024

A business license is an official government-issued permit that authorizes individuals or companies to conduct business within the government’s jurisdiction. The application is free and can be completed online via the IRS website. What are business licenses?

Legal 52

Legal Regulations IRS Compliance 52