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.

Audit 69

Audit IRS Tax Refunds Returns 69

PYMNTS

OCTOBER 25, 2019

Treasury Inspector General for Tax Administration is calling into question the Internal Revenue Service’s corporate auditing performance. But according to the report, the IRS rarely uses this new method and is not examining past audits in order to more efficiently prioritize which cases to more closely examine, Bloomberg said.

IRS 40

IRS Audit Treasury Compliance 40

PYMNTS

MAY 7, 2020

Any $1,200 COVID-19 stimulus checks sent to dead people by the Internal Revenue Service (IRS) must be returned, the agency says. However, the erroneous payments to dead people may have come about because the IRS largely sent out payments based on people’s tax returns for 2018 and 2019.

IRS 64

IRS Checks Direct Deposit Returns 64

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.

IRS 67

IRS Cryptocurrency Money Laundering Digital Currency 67

The Paypers

FEBRUARY 14, 2022

The US Treasury has confirmed that crypto miners and wallet operators are exempt from the IRS reporting rules, preparing appropriate regulations.

IRS 28

IRS Treasury Rules Regulations 28

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.

Checks 56

Checks Treasury IRS Returns 56

PYMNTS

JANUARY 8, 2021

Treasury Department said in a press release on Thursday (Jan. Department of the Treasury seal.” The Treasury Department said it set up a special website for EIP card information. The Treasury Department said it set up a special website for EIP card information. as part of the second round of COVID-19 stimulus money.

Debit Card 129

Debit Card Checks IRS Direct Deposit 129

PYMNTS

OCTOBER 23, 2019

Deluxe Corporation is augmenting its treasury management solution by integrating a bill presentment and payment processing function into its existing accounts receivable tool. Deluxe Treasury Management said in a press release on Tuesday (Oct.

Treasury Management 40

Treasury Management Treasury IRS Reconciliation 40

PYMNTS

JULY 30, 2020

The government initially delivered EIP funds in one of two ways: Consumers who had up-to-date direct deposit details on file with the Department of the Treasury could accept stimulus money straight into their accounts, while others had to wait for paper checks to arrive in the mail. The Five-Month Gap. A Switch to Debit.

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Treasury Debit Card Direct Deposit Checks 57

PYMNTS

JANUARY 5, 2021

Department of the Treasury has electronically sent out two-thirds of the second round of individual stimulus checks, or over $112 billion in payments, according to a report from The Wall Street Journal (WSJ). Also, during the last rollout, the IRS warned of scams arising related to the stimulus payments, PYMNTS reported.

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IRS Accounts Debit Card Payments 94

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

OCTOBER 14, 2019

with a flexible access to working capital financing instruments to the parties,” added Anna Sokolova, NLMK director for treasury. The Internal Revenue Service (IRS) now has a question on crypto ownership on its 1040 income tax form.

IRS 43

IRS Bitcoin Blockchain Cross-Border 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. The $600 individual payments could be sent out as soon as next week , according to Treasury Secretary Steven Mnuchin.

Checks 113

Checks PayPal Direct Deposit Venmo 113

PYMNTS

APRIL 17, 2020

“For weeks, we have pressed the Treasury Department to exercise its authority and ensure that Americans receive the full amount of their stimulus payments,” senators Elizabeth Warren (D-Massachusetts) and Sherrod Brown (D-Ohio) wrote in a letter to the American Bankers Association on Thursday (April 16).

Accounts 57

Accounts Treasury IRS Direct Deposit 57

PYMNTS

FEBRUARY 18, 2019

The American Institute of CPAs (AICPA) has asked the Internal Revenue Service (IRS) to exclude some small businesses (SMBs) from being treated as tax shelters. To remedy this issue, the AICPA has requested that the U.S. The first condition is that an entity must qualify under the gross receipts test.

IRS 54

IRS Small Business Rules Treasury 54

PYMNTS

JUNE 16, 2020

But Kellerman and other security experts advocated at the hearing for legislative measures, such as modernizing anti-money laundering (AML) and forfeiture rules and moving the Secret Service to the Treasury Department, to help combat the threat. ” A memo included with the subcommittee’s documents also pointed to the U.S.

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Cybersecurity Money Laundering Treasury FBI 90

PYMNTS

JUNE 1, 2020

The issue got the attention of the IRS, which issued a press release last week stating clearly that Americans should be receiving envelopes marked by “Money Network Cardholder Services” and the cards will be issued by MetaBank , which is the Treasury Department’s financial agent.

Debit Card 52

Debit Card IRS Direct Deposit Treasury 52

PYMNTS

MARCH 26, 2020

As reported, those Americans with direct deposit account information stored with the Internal Revenue Service (IRS) — the conduit through which they get refunds — will get those payments within a few weeks after legislation is finalized and signed. That’s about 70 million Americans.

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Checks Push-to-Card Direct Deposit IRS 100

PYMNTS

AUGUST 13, 2018

The Internal Revenue Service (IRS) said last month that it would train its sights on virtual currencies, with a focus on larger firms and international companies. The IRS defines crypto holdings as property. The IRS has said it has a “compliance campaign” in place that is tied to virtual currencies.

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IRS Cryptocurrency Bitcoin Treasury 40

PYMNTS

MAY 19, 2020

Treasury: 4 Million Stimulus Payments To Be Sent Via Visa Prepaid Debit Card. 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.

Debit Card 84

Debit Card Payments Treasury IRS 84

PYMNTS

JULY 28, 2020

Department of the Treasury and IRS are switching gears to provide consumers with stimulus funds via prepaid debit cards rather than physical checks. Deep Dive: Why The Treasury Switched To Debit Card-Based Stimulus Payments. Around The Next-Gen Debit World. Find the full story in the Tracker. More than 45 percent of U.S.

Debit Card 85

Debit Card Treasury Online and Mobile Banking Governance 85

PYMNTS

AUGUST 13, 2018

No agreement is in the offing yet, and the IRS stance may be in keeping with a 2014 ruling, which treats virtual currency as property. The IRS has said that it has a “compliance campaign” in place that is tied to virtual currencies. The IRS has said that it has a “compliance campaign” in place that is tied to virtual currencies.

IRS 40

IRS Cryptocurrency Bitcoin Treasury 40

PYMNTS

MARCH 26, 2016

Huff then sold the information to her co-conspirator James Vernon Battle, who allegedly filed 335 fraudulent tax returns and claimed over $400,000 from the Internal Revenue Service (IRS) in the form of prepaid debit cards and U.S. Treasury checks, which were delivered to several addresses in Montgomery, including Huff’s residence.

Identity Theft 56

Identity Theft Treasury Checks Debit Card IRS 56

PYMNTS

APRIL 20, 2016

The world of corporate treasury management has of late had to focus especially hard on the management portion of the job description. The reference work, says the company, helps inform treasury and risk professionals about technology and workflow, with an eye on trading, risk controls and compliance. two years ago to 3.2

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Treasury Treasury Management AFP IRS 40

PYMNTS

MARCH 10, 2017

Earlier this year, the Treasury Inspector General for Tax Administration reported that there was a reduction in the number of fraudulent tax returns identified between 2013 and 2015. On the other hand, around that same time the IRS released data showing that phishing and malware incidents in the 2016 tax season increased by 400 percent.

IRS 57

IRS Phishing Tax Refunds Returns 57

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.

Accounts 40

Accounts Rules IRS Small Business 40

PYMNTS

JANUARY 27, 2020

Treasury and revenue departments in multiple U.S. The Internal Revenue Service (IRS) has been blazing a digital trail for years and processed 29 million returns via direct deposit between February 2018-2019. States’ Rights and Digital Dollars. states are caught up in faster payments fervor, but not all officials seem persuaded.

Faster Payments 52

Faster Payments Governance Government Tax Refunds 52

PYMNTS

APRIL 27, 2016

Treasury Department announced plans for more inclusive representations of note-worthy (pun intended) Americans on the $5, $10 and $20 bills, there were rumblings that some other denominations of currency should perhaps disappear altogether. Why does the IRS make it so difficult for businesses to deal in all-cash? But just as the U.S.

Economy 41

Economy IRS Online and Mobile Banking Money Laundering 41

PYMNTS

MAY 11, 2020

Others believe there’s a paper check coming but find no details on the IRS “Get My Payment” web portal set up to track the progress of funds. As May flowers bloom, millions of Americans are still awaiting pandemic relief monies from the government. Some got it via direct deposit. People want answers.

Online and Mobile Banking 52

Online and Mobile Banking Multi-Currency Digital Currency Federal Reserve 52

PYMNTS

DECEMBER 7, 2017

You have to report to the IRS on a line-item basis every single time you dispose of an asset that results in a capital gain or loss,” he said. Like any business, manual record keeping can be a high-stakes strategy, especially when it comes to regulatory compliance. You need line-item detail, and that’s the minimum.”.

Blockchain 52

Blockchain Accounts Audit Cryptocurrency 52

PYMNTS

OCTOBER 6, 2016

One of the largest challenges, analysts said, is the requirement for CFOs at nonprofits to report annually to the IRS. Reports also highlighted the shift in regulatory and compliance pressures when moving from for-profit companies to nonprofits. There is often a lack of resources offered to the CFO at a nonprofit firm, reports added.

IRS 68

IRS Assessments Compliance Research 68

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. International transfers coming from the US are tracked by a US Treasury agency called the Office of Foreign Assets Control.

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Wire Transfer Wire Wires ACH 88

FICO

APRIL 3, 2020

Even the IRS, which is arguably the least empathetic organization in the country, has extended its deadlines in the wake of COVID-19. Congress is currently considering a proposal that would increase a Treasury Department fund, giving the Federal Reserve access to $350+ billion that could be used for emergency lending programs.

Small Business 52

Small Business Community Banks Federal Reserve Adjustments 52

PYMNTS

OCTOBER 17, 2018

Treasury Department’s Financial Crimes Enforcement Network (FinCEN), there are approximately 100 credit unions nationwide currently working with legalized marijuana businesses. GFA joins a small, but steadily growing, group of CUs that are offering financial services to this emerging market. Based on the latest data from the U.S.

Credit Union 50

Credit Union Legal Non-Bank Underserved 50

PYMNTS

JANUARY 1, 2021

The IRS is ready to deal with direct deposit if you have a regular bank account, and they are ready to deal with paper checks, [but] they are not used to dealing with [more] payment methods on a widespread scale,” said Linda Jun , senior policy counsel for the AFP. “We Mastering Multichannel Commerce Playbook.

Economy 103

Economy Online and Mobile Banking Credit Union Money Laundering 103

Fintech Labs Insights

FEBRUARY 1, 2016

Former head of treasury and investor relations at Hewlett-Packard, Rob Binns, will join Misys as the company’s new Chief Financial Officer. Binns won the Tech IR award from Institutional Investors Magazine in 2014 and 2015, and is a fellow of the Chartered Association of Certified Accountants in the UK.

IRS 15

IRS Treasury Innovation Technology 15

PYMNTS

MAY 31, 2018

The IRS is hiring and training more than 3,000 agents to enforce its Foreign Account Tax Compliance Act (FATCA), and the onus is now on the payer to collect all necessary tax documents from the payee and validate the info on those forms.

Remote Deposit Capture 43

Remote Deposit Capture Automation Cross-Border Compliance 43