PYMNTS

JANUARY 12, 2021

The federal government is not exactly the poster child for modern payments distribution. The fact that the government needs to immediately modernize its payments capabilities is something that everyone knew, according to Ingo CEO Drew Edwards – but what has escaped the conversation is the need to identify the actual core problem. “The

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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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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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PYMNTS

DECEMBER 16, 2020

Government agencies fall among the cohort of institutions that need to disburse funds with more speed than usual, but they’re tasked with sending stimulus checks and business loans to the financially vulnerable, making the stakes higher for those who fail to quickly respond to these pandemic-driven changes.

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Government Governance IRS Push-to-Card 93

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 Government Governance Tax Refunds 52

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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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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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

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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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 Government 31

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

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

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 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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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

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

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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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.

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Blocks Checks IRS Direct Deposit 71

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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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.

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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.

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PYMNTS

JANUARY 5, 2021

While the IRS has been able to deliver the second round of Economic Impact Payments in record time, we understand there are many questions and we appreciate everyone’s patience during this period,” the agency said in a statement late Tuesday (Jan. 5), according to WSJ.

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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.

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PYMNTS

JANUARY 8, 2021

The IRS is supposed to distribute all payments by Friday, Jan. People have been frustrated by not being able to reach the IRS about the payments. The Treasury Department said it set up a special website for EIP card information.

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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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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. .

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Checks IRS Identity Theft Credit Cards 56

PYMNTS

AUGUST 4, 2020

government accidentally sent to dead people. The IRS has reportedly gotten much of the money back, putting out instructions for those who received checks for dead family members on how to return it. Not surprisingly, the affected IRS employees are none too pleased. Case in point are the roughly $1.4 Roughly 10 percent of U.S.

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Checks IRS Tax Refunds Returns 97

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.

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Blocks FTC IRS Federal Trade Commission 43

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

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PYMNTS

NOVEMBER 18, 2016

17) of a new tax bill scam in which unwitting consumers receive a fake IRS notice that contends they owe the government money because of the Affordable Care Act. The IRS said lots of people have received the fake notices, which typically say a taxpayer owes money from the year earlier under the Affordable Care Act.

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Tax Scams Scams IRS Federal Trade Commission 61

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.

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Checks Direct Deposit Accounts IRS 98

PYMNTS

APRIL 24, 2020

The survey said that 35 percent of respondents expect to hear communication from the IRS by email, despite years of warnings from the IRS and law enforcement agencies that the tax agency will never email an individual about their tax filing. n (CDC) logos.

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Phishing Scams IRS Law Enforcement 63

PYMNTS

MAY 26, 2020

And, with ASAP Direct Deposit, consumers can get their pay as soon as two days prior to payday or government benefits as soon as four days early. The app makes a distinct barcode for scanning by the cashier and funds are available within 10 minutes. In addition, they can also visit a website to learn more about the product offering.

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Direct Deposit Debit Card IRS Deposit Account 88

PYMNTS

JANUARY 11, 2021

IRS Error Puts Stimulus Payments in Wrong Accounts. Approximately 13 million defunct accounts inadvertently received stimulus check payments by the IRS, which the government body is currently trying to get to the right locations.

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