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.

IRS 40

IRS Bitcoin Digital Currency Assessments 40

Evolve Payment

JANUARY 14, 2025

The IRS has announced many different forms of business expenses that merchants can write off – are credit card processing fees on the list? The IRS recognizes merchant fees (commonly referred to as credit card fees) as an essential operating cost. Are Processing Fees Tax-Deductible?

Process 97

Process IRS B2C Credit Cards 97

PYMNTS

NOVEMBER 16, 2018

While the legalization of marijuana is a contentious political topic, a fact that is not contentious is that in the 33 U.S. states (and the District of Columbia) where marijuana has been legalized for sale in some capacity, it has thrown off a fairly large chunk of tax revenue in the last year.

IRS 70

IRS Legal Payments Push-to-Card 70

PYMNTS

AUGUST 13, 2020

IRS-CI special agents in the DC cybercrimes unit work diligently to unravel these financial networks.”. In other parts of the world, blockchain technology is being used legally to support countries’ infrastructure.

IRS 62

IRS Blockchain Cryptocurrency Verification 62

PYMNTS

APRIL 28, 2020

“Rich brings unquestioned integrity, legal acumen, and management experience to DFS,” Lacewell said in the announcement. His extensive leadership experience and depth of legal knowledge will be vital in helping the state emerge stronger and safer from this unprecedented crisis.”.

Bitcoin 67

Bitcoin Financial Crimes BSA Digital Currency 67

PYMNTS

SEPTEMBER 20, 2016

While the federal government has declared that bitcoin is not legal tender or currency in the same sense that the dollar is currency (the IRS treats bitcoin more like a taxable asset), judges have no problem dinging defendants who use it in a manner consistent with money laundering.

Bitcoin 75

Bitcoin Money Laundering IRS Financial Crimes 75

Stax

APRIL 10, 2025

The payment method is outside the control of a centralized authority like the central banks that issue and guarantee traditional legal tender (money). And the fact that we dont have established local and international regulations managing their usage means people have little legal recourse if things go wrong.

Small Business 88

Small Business Wire Transfer BNPL ACH 88

PYMNTS

FEBRUARY 21, 2019

The task traditionally involves the official IRS mileage reimbursement rate (which, for 2019, stands at $0.58 In a new PYMNTS webinar, Karen Webster and Danielle Lackey, chief legal officer at expense management provider Motus , spoke about those changes, and how companies can get with this trend to save money and even make employees happier.

IRS 51

IRS Adjustments Technology Legal 51

PYMNTS

FEBRUARY 26, 2020

“In addition to stealing from Microsoft, Volodymyr Kvashuk also stole from the government by concealing his fraudulent income and filing false tax returns,” said IRS-CI Special Agent in Charge Ryan L. Kvashuk’s grand scheme was thwarted by the hard-work of IRS-CI’s Cyber Crimes Unit.

IRS 82

IRS Identity Theft Crime Digital Currency 82

PYMNTS

DECEMBER 18, 2018

14), the Internal Revenue Service (IRS) updated the standard mileage rates, which apply in part to vehicles used for business purposes. As one firm, Motus , noted in its own take on the change, the IRS rate is geared toward low-mileage vehicle use, at less than 5,000 business miles logged annually. On Friday (Dec. Compliance Concerns.

IRS 59

IRS Compliance Cost Structure Legal 59

PYMNTS

MAY 19, 2020

Treasury Department and the IRS are planning to send out around 4 million Economic Impact Payments (EIP) via Visa prepaid debit cards rather than paper checks this week. Treasury: 4 Million Stimulus Payments To Be Sent Via Visa Prepaid Debit Card. Now, some lawmakers even want to ban M&A until the economy returns to normal.

Debit Card 84

Debit Card Payments Treasury IRS 84

PYMNTS

DECEMBER 23, 2020

Larsen of IRS-Criminal Investigation (IRS-CI). IRS-CI and our law enforcement partners will continue to work tirelessly to expose COVID-19 schemes and bring those responsible to justice.”.

Money Laundering 60

Money Laundering IRS Identity Theft Law Enforcement 60

PYMNTS

DECEMBER 2, 2019

according to the latest figures from the IRS, which monitors and regulates such organizations. Tax-exempt organizations must carefully follow the legal regulations that enable them to operate as 501(c)(3) charities. There are approximately 1.56 million tax-exempt groups active in the U.S., trillion in revenues and $2.4

Cash Management 56

Cash Management IRS Automation Regulations 56

PYMNTS

JULY 1, 2020

” The opinion also noted that the IRS treats cryptocurrency more as a property than as a currency for tax purposes. The ethics decision came down because of the increasing prominence of digital currency, with the District of Columbia Bar finding it “cannot hold back the tides of change.”

Digital Currency 78

Digital Currency Cryptocurrency IRS Agreements 78

PYMNTS

FEBRUARY 22, 2019

Internal Revenue Service (IRS) said that ahead of tax season, preparers and other victims received requests to change direct deposit activity. The IRS cited “spoofed” addresses that seemed official. In December, the U.S.

Direct Deposit 54

Direct Deposit Scams IRS Business Email Compromise 54

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.

Compliance 53

Compliance IRS Agreements Audit 53

PYMNTS

APRIL 27, 2016

Now legal in 23 states, with recreational use also legal in Alaska, Colorado, Oregon and Washington, marijuana is very much still a cash-based business. The outlet dug deeper into the case to reveal that Allgreens’ mistake came when it tried to pay its payroll taxes to the IRS in cash, which is actually illegal.

Economy 41

Economy IRS Online and Mobile Banking Money Laundering 41

EBizCharge

NOVEMBER 12, 2024

While starting a new business is an exhilarating journey, it comes with numerous responsibilities, including acquiring a business license to legally sell products or services. Understanding which companies require business licenses is crucial since operating without the proper documentation can lead to legal repercussions.

Legal 52

Legal Regulations IRS Authorization 52

PYMNTS

JANUARY 20, 2017

Stateside, the battle between Coinbase and the IRS is heating up. Until recently, Coinbase had yet to make a legal move on its own behalf. The IRS seeks access to Coinbase’s user records as part of an investigation into alleged tax violations connected to digital currency. Coinbase user and attorney Jeffrey K.

Bitcoin 41

Bitcoin IRS Digital Currency Central Bank 41

PYMNTS

OCTOBER 17, 2018

On October 4, the Massachusetts Cannabis Control Commission (CCC) issued its final four recreational marijuana licenses to businesses, meaning legal marijuana will soon be available for purchase. Massachusetts joins a handful of states, including Colorado, Washington and Maine, that have taken steps to legalize recreational marijuana.

Credit Union 50

Credit Union Legal Non-Bank Underserved 50

PYMNTS

JUNE 1, 2018

These are heady times for the gig economy, independent contractors and the legal and payment issues attached to those areas. The company facilitates online completion of new hire paperwork, supporting electronic signatures of key documents like IRS W4 forms.

Direct Deposit 40

Direct Deposit B2B IRS Payroll 40

Nanonets

MARCH 4, 2024

Calculated based on IRS guidelines. Professional Fees : Fees for legal, accounting, and other professional services. Deductible within IRS guidelines. Deductible within IRS guidelines. Legal and Regulatory Costs : Fees for patents, trademarks, and regulatory compliance. Fully deductible. Fully deductible.

IRS 52

IRS Online and Mobile Banking Credit Cards Automation 52

Nanonets

FEBRUARY 13, 2024

Professional Fees : Outsourcing professional services such as legal advice, accounting, and consulting can be crucial for business success. The IRS stipulates that to qualify for tax deductions, expenses must be both "ordinary and necessary." This category captures all costs related to business travel and client entertainment.

IRS 52

IRS Automation Adjustments Audit 52

Nanonets

NOVEMBER 15, 2023

It's a routine practice for companies aiming to minimize their tax obligations while staying within legal boundaries. Business expense receipts do more than facilitate reimbursements; tax authorities like HMRC and IRS require them to verify a company's compliance with tax regulations.

IRS 52

IRS Automation Rules Origination 52

Nanonets

JUNE 18, 2024

Whether the business expense can be claimed or reimbursed depends on the following factors: Compliance with IRS guidelines The IRS has a simple rule about what counts as a legitimate business expense. Tax compliance Stay updated with IRS guidelines and other regional tax regulations and legal requirements.    Q.

Automation 52

Automation Process IRS Compliance 52

PYMNTS

OCTOBER 29, 2018

In the latest Topic TBD, Danielle Lackey, chief legal officer of Motus , said the law across Illinois — and states such as California, Massachusetts and several others — represents a shift from usual practices. She noted that IRS guidelines cover fixed and variable rate reimbursements , as tied to mileage reimbursement plans.

Laws 65

Laws IRS Best Practices Technology 65

Nanonets

SEPTEMBER 23, 2024

PDFs, often used for official documents, business reports, and legal contracts, contain a wealth of information but are notorious for their complex layouts and unstructured data. Saffos Peter Werner VP, Legal Richard A. Why is PDF Parsing Crucial for RAG Applications? Kline Calise Cheng Allbirds, Inc. Benjamin J. Saffos Richard A.

Origination 98

Origination AI Returns Legal 98

Stax

JULY 1, 2024

Attractive offerings from QuickBooks include next-day and same-day direct deposit into employee bank accounts, as well as tax penalty protection against the IRS for up to $25,000 on the Elite plan. QuickBooks Payroll also partners with SimplyInsured to offer health insurance benefits.

Small Business 88

Small Business Payroll Direct Deposit Compliance 88

Nanonets

AUGUST 10, 2023

Get a free expense report template here The IRS has a simple rule about what counts as a legit business expense. Unexpected related expenses: These include unforeseen costs shouldered by employees, like emergency repairs or legal fees, which are not part of the regular operations but are necessary for the business.

Automation 52

Automation Process Compliance IRS 52

EBizCharge

NOVEMBER 12, 2024

This separation of funds helps establish a clear boundary between personal and business finances, which is crucial for legal, tax, and organizational reasons. This separation is essential in maintaining the legal protections that keep personal assets safe in case of lawsuits or debts incurred by the business.

Accounts 52

Accounts Debit Card Credit Cards Payroll 52

PYMNTS

JANUARY 8, 2018

Funds can be deposited into a consumer’s account with 24 hours of the IRS accepting their fully filed tax return. He did that by revoking the Cole memo (and two other associated memos) that provided a legal framework for the sale of cannabis in the States.

Tax Refunds 42

Tax Refunds Scams Legal Wires 42

Stax

JUNE 27, 2024

Government payments – You can use ACH to pay individual and business taxes to the IRS. Your bank statement will list this payment under “IRS USA Tax Payment” as proof of payment. Some bills you can pay include mortgage, credit card, utility, merchandise, and auto loan payments.

Wire Transfer 88

Wire Transfer Wires Wire ACH 88

Nanonets

AUGUST 2, 2023

Individuals or businesses exporting goods need an EIN issued by the IRS. Exporters need to comply with the FTR to facilitate legal international trade operations. Legal action: Non-compliance with EEI filing requirements can lead to legal action being taken against the exporter. What is an FTR Exemption?

Automation 52

Automation Regulations Compliance Legal 52

PYMNTS

MAY 23, 2017

The IRS has trained us all to be very cautious. That may catch some international businesses off-guard, he noted, adding that not only is there a legal repercussion to noncompliance, there is a reputational one, too. According to Gerlis, the U.S. is getting very hot on compliance,” he said. is extremely low.”. “In

Compliance 40

Compliance Cross-Border Economy Rules 40

Nanonets

APRIL 3, 2024

Create a legal business entity such as an LLC or a corporation. Instead, by establishing a separate legal entity, your organization will be seen as its own business with its own score, separating your personal finances from your business finances. Open a business bank account to manage transactions and track revenue and expenses.

Accounts 52

Accounts Risk Credit Limit Agreements 52

Payment Savvy

NOVEMBER 14, 2022

This type of payment is commonly used for higher-cost items, including mortgage payments, car loan repayments, monthly rent payments, or legal retainers. They can elect to receive an electronic check directly deposited from the Internal Revenue Service (IRS) instead of getting a physical paper check delivered through the mail.

Checks 52

Checks Direct Deposit ACH Online and Mobile Banking 52

PYMNTS

NOVEMBER 29, 2017

If they couldn’t get their beverages legally, then they would just have to turn to less reputable sources. In the case of Al Capone, the Justice Department and the IRS went after the Chicago Outfit for tax evasion. Spoiler alert: People still wanted to drink.

Money Laundering 46

Money Laundering Acquirers Transactions Crime 46