PYMNTS

JANUARY 10, 2019

After the holiday season comes tax season — everyone’s favorite time — but at least the payment of taxes, along with the tax refund process, promises to become even more digital this year. And digital payers are striving to win more business from tax filers this year. Rise of Quicker Payments. New Products.

Tax Refunds 48

Tax Refunds IRS Real Time Payments Blocks 48

PYMNTS

JUNE 29, 2020

The advocate also said in the report that examinations on individual tax returns fell to 5,013 from April 1 to June 1 this year compared to 14,188 during the same time last year, marking a 65 percent fall. In the meantime, the interest and penalties continued to accrue on their debts,” the advocate noted.

Audit 69

Audit IRS Tax Refunds Returns 69

PYMNTS

FEBRUARY 23, 2017

That day is when the IRS hands out tax refund checks from the previous year’s tax filing. Research conducted by the National Retail Federation (NRF) and Prosper Insights & Analytics paints a much different picture for this year’s tax refund spending — or, in this case, not spending — activities.

Tax Refunds 40

Tax Refunds Payer IRS Returns 40

Fintech Finance

JANUARY 17, 2024

Now, through this new embedded filing integration with Column Tax, members can file their taxes for free directly in the Current app, and most can file in under 20 minutes, regardless of how many jobs they have worked. Every return is backed by Column Tax’s maximum refund and accuracy guarantees.

Tax Refunds 52

Tax Refunds Credit Cards Returns Checks 52

PYMNTS

JANUARY 16, 2020

billion merger deal with Switzerland’s tourism shopping tax refund company Global Blue , earning it a listing on the New York Stock Exchange (NYSE), the companies announced Thursday (Jan. Global Blue runs airport kiosks and storefronts that enable shoppers to get sales tax refunds when they return home.

Tax Refunds 52

Tax Refunds Returns Acquirers Checks 52

PYMNTS

JULY 15, 2020

Today (July 15) is Tax Day , and despite it coming three months later than normal due to COVID-19, several million Americans will be scrambling to get their returns (or at least their applications for extensions) out the door by midnight. Those returns don’t present much of a challenge during the pandemic.

IRS 58

IRS Tax Refunds Returns Process 58

PYMNTS

JANUARY 8, 2018

Credit Karma said yes to early tax refunds for consumers – for free. Good Tax Lending Karma. Good news for consumers avidly awaiting their tax refund for 2018: Credit Karma Tax is rolling out a new product call Earlybird Advance, an online refund advance service. And that was just Tuesday.

Tax Refunds 42

Tax Refunds Scams Legal Wires 42

PYMNTS

APRIL 12, 2017

MorphoTrust and ADR will launch a pilot program that leverages MorphoTrust’s electronic ID (eID), testing the digital identity credential for residents filing state tax refunds during the 2016 season. The shift toward stronger authentication comes as tax season increasingly becomes the biggest holiday of the year for fraudsters.

Authentication 40

Authentication Tax Refunds Tax Scams Credential 40

PYMNTS

APRIL 5, 2018

Fortunately, online tax filing solutions have helped cut through the mounds of paperwork that go into preparation and filing — and consumers seem to be rejoicing. million individual returns have been filed electronically, a slight 0.7 Expediting the return process. percent uptick from the same period in 2017.

Payments Tools 40

Payments Tools Tax Refunds Direct Deposit Blocks 40

PYMNTS

MARCH 12, 2020

The joys of tax season: complex paperwork, long wait times and check disbursements. Many United States consumers are still reliant on paper checks when it comes to receiving their tax refunds, which represents the largest sum of money many of them will receive at one point during the fiscal year. Only 24 percent of U.S.

Tax Refunds 52

Tax Refunds Checks IRS ACH 52

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.

IRS 57

IRS Phishing Tax Refunds Returns 57

PYMNTS

AUGUST 13, 2019

Digital payments startup QFPay , the largest global partner of WeChat Pay and Alipay, raised $20 million in new funding led by returning investors Sequoia Capital China and Matrix Partners, TechCrunch reported on Tuesday (Aug. Merchants that used WeChat Pay on a monthly basis grew more than 80 percent year over year (YOY).

Cross-Border Payments 46

Cross-Border Payments Tax Refunds Cross-Border Innovation 46

PYMNTS

APRIL 18, 2017

million tax returns last year, some 88 percent of which were filed electronically. trillion in adjusted gross income — meaning a total tax liability of $1.52 percent in federal income tax alone. First off, the IRS received over 150.5 Sign of the times, to be sure.) Combined, U.S. taxpayers earned $10.17 percent).

IRS 40

IRS Tax Refunds Social Security Returns 40

Stax

APRIL 23, 2024

ACH transactions provide a quick and easy way to pay employees, submit and retrieve tax returns, and automatically control your finances within 1-2 business days. Most small business owners and employers are turning to ACH payments instead paper check payments because of the ease and instant access the ACH network provides.

ACH 88

ACH Direct Deposit ACH Network Wire Transfer 88

EBizCharge

JULY 16, 2024

Under NACHA’s stewardship, the ACH network processes various payments, including direct payments for payroll, social security benefits, tax refunds, and more. Compliance with these standards is pivotal for entities that wish to conduct electronic payments such as direct payments, tax refunds, and social security distributions.

NACHA 52

NACHA Nacha Rules ACH Network ACH 52

Clearly Payments

JULY 16, 2024

Return Fraud: Fraudsters exploit return policies by returning stolen or counterfeit goods for refunds or store credit. Return fraud costs e-commerce merchants $24 billion annually, accounting for 8% of total returns. Rank Industry Fraud Rate Most Common Fraud Type 1 Travel and Hospitality 3.2%

Risk 52

Risk Identity Theft Phishing Account Takeovers 52

PYMNTS

JANUARY 27, 2020

More states are starting to use recurring digital payments as the means by which tax refunds and other government monies are paid out. 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.

Faster Payments 52

Faster Payments Governance Government Tax Refunds 52

FICO

JUNE 1, 2023

Visa is predicting negative GDP in Q2 and Q3 with a return to growth in Q4 2023. Overall, housing prices are expected to hold their ground in 2023 while inventories return to more normal levels than in previous years. The numbers: First quarter 2023 GDP released by the U.S. The unemployment rate dropped from 3.6% by the end of 2023.

Credit Cards 52

Credit Cards Federal Reserve Tax Refunds Returns 52

Nanonets

JUNE 28, 2023

Distribution to Employees: Employers must distribute copies of the W-2 form to their employees by January 31st of the year following the tax year. The employees use the information provided on the W-2 form to prepare and file their individual income tax returns. What is a W2 Form Used for?

Automation 52

Automation IRS Social Security Returns 52

PYMNTS

FEBRUARY 13, 2019

Criminals can direct federal or state tax authorities to issue fraudulent tax refunds on prepaid debit cards.”. Sometimes, the danger is apparently not worth the return on investment, at least when it comes to some banks along the U.S.-Mexico Mexico border. A report last year from the U.S.

Money Laundering 58

Money Laundering Debit Card Cross-Border BSA 58

PYMNTS

SEPTEMBER 20, 2017

While sentiment was split nearly 50-50, slightly more professionals surveyed by the APA found that they would prefer to receive their tax refund as added wages tacked on to their paychecks, as opposed to receiving one lump sum at tax return time (nearly a tenth said they didn’t know they had the option).

Laws 40

Laws Payroll Tax Refunds Direct Deposit 40

Stax

NOVEMBER 13, 2024

Government agencies use ACH credit to distribute tax refunds, rebates, and other reimbursements. What are ACH Credit Refunds and How Do They Work? ACH credit refunds are payments returned to a customer’s bank account. It allows businesses to control payment timing based on cash flow and due dates.

ACH 88

ACH ACH Network Payer Payee 88

Fintech Labs Insights

JULY 29, 2016

Coming soon to both Android and iOS, Connect from Refundo will make it easier for taxpayers to file returns with their tax preparers. The new mobile app is designed to help tax professionals reach more customers, as well as reduce wait times for in-office clients. Roger Chinchilla is CEO.

Tax Refunds 22

Tax Refunds Audit Payer Credit Cards 22

PYMNTS

MARCH 17, 2020

The Internal Revenue Service (IRS) says refunds take an average of 21 calendar days to reach recipients – but as CBS News reported in January 2020, “…the tax agency notes that it can take longer to receive your refund, typically because the IRS needs more time to process the return in case of errors or other problems.”.

IRS 52

IRS Tax Refunds Direct Deposit Faster Payments 52

PYMNTS

APRIL 15, 2020

No further action is needed by taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees.”. The online platform is similar to the way taxpayers can track their federal tax refund. If not, the federal tax agency said people must file a 2019 tax return to receive the payment.

IRS 92

IRS Tax Refunds Payments Direct Deposit 92

PYMNTS

NOVEMBER 28, 2016

That includes tax refund anticipation loans, pawnshop loans, payday loans, auto-title loans and paycheck advances. Or was set up to do — a point we return to below. percent of adults in households that make less than $40,000, and are unbanked, almost two-thirds (63 percent) use an AFS provider. That’s not what the CFPB does.

Consumer 51

Consumer CFPB Credit Cards Federal Reserve 51

PYMNTS

JANUARY 8, 2019

government shutdown continues, a Trump official has promised that tax refunds will go out on schedule. Tax refunds will go out,” the acting director of the White House Office of Management and Budget, Russell Vought, told reporters on Monday (January 7), according to Bloomberg. While the U.S.

Tax Refunds 49

Tax Refunds Shutdown IRS Direct Deposit 49