PYMNTS

JANUARY 11, 2021

US Trade Representative: India, Italy, Turkey Digital Taxes Discriminates Against US Firms. Trade Representative (USTR) recently released the results of Section 301 probes of digital services taxes (DSTs) that Turkey, Italy and India have adopted, finding that each tax “discriminates against U.S. Billion Of French Products.

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Taxes US Compliance social media 132

PYMNTS

NOVEMBER 16, 2020

Regulation. Tencent Holdings President Martin Lau said further regulations are needed in China to mirror a “new reality.”. As technology companies become bigger and more important to the economy, I would say more regulations to reflect the new reality are needed," Lau said, according to the report. Larry Hogan vetoed the levy.

Maryland 151

Maryland Taxes Online Groups 151

PYMNTS

JANUARY 17, 2020

Historians and economists regularly look to tax policies to get a sense of what happened within a particular industry, society or country. No doubt the chronicles to come about the rise of the internet age and the spread of digital culture will include serious treatment of tax issues. Taxing Confusion. billion in 2022.”.

Taxes 132

Taxes Online Policies Philadelphia 132

Perficient

JUNE 30, 2022

Members of Perficient’s Digital Asset Team have advised followers in multiple online articles about the digital asset revolution and relevant regulations affecting the same in the United States. Highlights From Federal Bank Regulators’ Joint Statement on Cryptocurrency Assets – Perficient Blogs. Legislative Initiatives.

cryptocurrency 472

cryptocurrency Regulation Conference Taxes 472

PYMNTS

OCTOBER 14, 2019

Italy is preparing to tax digital companies to help fund its 2020 budget as it seeks different revenue streams to avoid a scheduled sales tax hike, sources told Reuters on Monday (Oct. Companies with annual global revenues of $827 million and digital services of $6 million in Italy will be subject to the tax.

Taxes 116

Taxes National Report Company 116

PYMNTS

JANUARY 27, 2020

To say that 2020 has already started off as a busy year for the Consumer Financial Protection Bureau (CFPB) might be an understatement. Only a few weeks in, and the flurry of activity might already reshape the way financial services are regulated, and by whom. Digital Taxes, Abroad.

New York 179

New York Taxes California Conference 179

PYMNTS

SEPTEMBER 3, 2019

In Japan, the Fair Trade Commission said last week that it has draft guidelines in place that would promote tighter regulation of larger tech firms. Taxes, Too. As reported, companies paying the French digital tax will be reimbursed once that international framework is in place. Libra in the Crosshairs.

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Guidelines Regulation Taxes United States 116

PYMNTS

JANUARY 16, 2020

“In order for there to be mass adoption, the path forward is a regulated, compliant exchange system that clients have become accustomed to in traditional finance.”. The tax is called a retention tax, which is an income tax paid to the government by the income payer and not its recipient. 16) by Cointelegraph. .

Taxes 131

Taxes Bitcoin cryptocurrency National 131

PYMNTS

OCTOBER 28, 2019

Wayfair case that allowed states and individual cities to launch tax policies aimed at remote sellers and marketplaces is still reverberating in 2019 and will likely affect online retail in 2020. In Q3 2019, 14 states started collected online sales tax and 11 more followed in October. eBay Makes a Deal.

Taxes 102

Taxes Online San Jose South Carolina 102

PYMNTS

SEPTEMBER 3, 2019

eCommerce firms are navigating a tax collection environment that increasingly requires technology and automation to ensure compliance. eCommerce sales in 2020. In corporate payments news, Citi is tapping into application programming interface (API) calls to make treasury ops real-time. 659B : Estimated potential value of U.S.

Taxes 122

Taxes South Dakota Technology New York 122

PYMNTS

SEPTEMBER 8, 2020

Here’s the latest news for Big Tech’s Google , Amazon , Apple and Facebook , which are coming under increasing scrutiny from legislators and regulators the world over. Regulation. Big Tech Updates Fees to Reflect UK Digital Services Tax. digital services tax on to consumers in addition to an existing 20 percent value-added tax.

Taxes 131

Taxes Google Apple social media 131

PYMNTS

NOVEMBER 4, 2019

have resulted in a delay for legislation that is now in draft form, which would include a provision to tax larger tech firms that derive sales from the region. The bill has proposed a 2 percent tax on revenues for firms as diverse as Facebook and Amazon. As noted by Bloomberg last week, the December elections on deck for the U.K.

Taxes 101

Taxes Fraud Data Regional 101

PYMNTS

JANUARY 8, 2020

Call it, perhaps, a New Year’s Resolution list — for regulators. Against that backdrop, we might see the continued evolution of tax policy tied to crypto, and perhaps more defined parameters of crypto as a distinct class of assets. In documents released Tuesday (Jan.

blockchain 138

blockchain Phoenix Compliance cryptocurrency 138

CFPB Monitor

MAY 13, 2022

The Treasury Department’s General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals includes a proposal concerning how EWA programs should be characterized for tax purposes. It would also add a definition of on-demand pay arrangements to the IRC.

Taxes 78

Taxes California Regulation Exercises 78

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The projected 2020 cost of AML compliance across all U.S. It’s possible that regulators could require verified wallets to be KYC- and AML-compliant.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

South State Correspondent

JUNE 7, 2023

Bank ERC Background Bank ERCs is a refundable tax credit available to businesses, including financial institutions, affected by the global pandemic as granted under the CARES Act and modified by the Relief Act. Unable to hold in-person meetings—with customers, partners, regulators, industry representatives, and more.

Taxes 195

Taxes Meeting Operations ATM 195

PYMNTS

JANUARY 1, 2021

The pandemic-induced challenges have also been taxing for community financial institutions (FIs) and credit unions (CUs), as many were not designed to operate remotely. regulations.”. Credit Union. The past year has been one of the most trying in recent memory for lenders as well as consumers. Digital Identity.

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Trends Video Retail Payments 259

PYMNTS

SEPTEMBER 24, 2020

The Digital Commodity Exchange Act of 2020, which was proposed by a U.S. In other news, the Ministry of Finance in Russia keeps advocating for digital currency industry rules through the introduction of new tax mandates, Cointelegraph reported. representative Thursday (Sept.

National 121

National Report Taxes Bitcoin 121

South State Correspondent

MAY 30, 2024

We work with well-known national CPA firms that specialize in working with banks specifically to claim their ERC tax rebate. The average tax rebate is approximately $1.5 Inability to hold in-person meetings—with customers, partners, regulators, industry representatives, and more. The 10% impact could be a combination of factors.

Georgia 195

Georgia Alabama New Jersey Taxes 195

PYMNTS

JANUARY 19, 2021

MEPs will be sending invitations directly to the four biggest tech platforms — Google, Amazon, Facebook and Apple — for a virtual hearing about tax and competition policy, the sources told FT. DMA draft regulations would compel Big Tech platforms to allow third-party software firms to use their platforms and services.

Taxes 153

Taxes Apple Google Regulation 153

PYMNTS

JANUARY 25, 2021

Officials have until April 1 to divest from any foreign cryptocurrencies, although they won’t be required to report any crypto holdings for the year 2020, the report stated. The data leaked included names, email addresses, phone numbers, bank account details and tax ID numbers, the report stated.

Bitcoin 261

Bitcoin cryptocurrency Data National 261

Abrigo

DECEMBER 4, 2020

The October 23, 2020 proposed amendments, if passed, would modify two rules that have been part of the Bank Secrecy Act (BSA) regulations since 1995. Get the latest on BSA/AML regulation changes. BSA Rules and Regulation. keep me informed. Watch Webinar. Learn More. Lending & Credit Risk.

Regulation 195

Regulation Lending Taxes Data 195

CFPB Monitor

OCTOBER 20, 2021

A group of 96 organizations and individuals, who describe themselves as consisting of “consumer, labor, civil rights, legal services, faith, community and financial organizations and academics,” have sent a letter to the CFPB urging the Bureau to regulate fee-based earned wage access (EWA) products as credit subject to the Truth in Lending Act.

Regulation 78

Regulation Groups Analysis Lending 78

PYMNTS

SEPTEMBER 3, 2019

And regulators are taking a close look at payroll advance apps. Why Invisible Will Make 2020’s Payments Innovation Roar. Report: The Risky Business of Navigating Online Sales Tax for Merchants. Levy laws can vary widely, with one state taxing a product that another does not.

Innovation 101

Innovation Data Taxes Payments 101

CFPB Monitor

JANUARY 9, 2020

The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR cessation and transition risk.” (LIBOR is the acronym for the London Inter-Bank Offered Rate.).

Regulation 78

Regulation New York Management Taxes 78

CFPB Monitor

JANUARY 24, 2020

On December 18, 2019, the New York Department of Financial Services (DFS) issued its Final Regulations detailing the business conduct rules for mortgage loan servicers. These regulations will require implementation of additional New York-specific communications and servicing procedures. Effective Date. Escrow Accounts (§ 419.2).

New York 78

New York Regulation Payments Compliance 78

American Banker

NOVEMBER 5, 2020

As lawmakers look for ways to plug budget gaps, credit union groups are preparing for a possible assault on the industry's tax exemption at the state and federal level.

Taxes 62

Taxes Groups Industry Regulation 62

PYMNTS

AUGUST 24, 2020

Here’s the latest news from Facebook, Amazon and others, which are coming under increasing scrutiny from regulators, trade groups and politicians the world over. Regulations. Facebook Supports Data-Portability Law. Facebook has advocated for a law that would simplify the process of moving videos and pictures to a competing site.

social media 152

social media Data Apple Compliance 152

PYMNTS

DECEMBER 3, 2020

Like all regulations, the new Digital Services Act brewing in the European Union has its detractors (those who will be regulated) and its fans (those who are writing the regulations). For instance, it singled out YouTube, which reported that between July and September 2020, it removed 7.9 million problematic videos.

Regulation 204

Regulation Google National Marketing 204

PYMNTS

MAY 6, 2020

The tax services firm has developed a new tool on its website for the unbanked or underbanked, where users can register for one-time payments of their anticipated stimulus checks from the federal government. TurboTax is among the platforms seeking to make it easier for U.S. Unibet On The Challenges Of Offering Instant Disbursements.

Online 222

Online Taxes United States Industry 222

Abrigo

SEPTEMBER 1, 2021

Barr with the Department of Justice (DOJ) released a report in October of 2020 stating, “The addiction crisis has taken an enormous toll on America’s families and communities, eroding public health, threatening public safety and claiming tens of thousands of lives year after year.” . BSA Rules and Regulation. Going Forward.

Training 195

Training Regulation Community Austin 195

PYMNTS

OCTOBER 7, 2019

One key state law that is in place, and which help inform other laws, as has been reported, exists with the California Consumer Privacy Act , which in turn can be traced to the General Data Protection Regulation (GDPR) mandated by the European Union. In France, Higher Taxes May Loom. CFPB Unconstitutional?

California 134

California Taxes Data Regulation 134

PYMNTS

JANUARY 3, 2020

The European Central Bank (ECB) policy maker urged area banks to be cautious about cryptocurrency from the private sector, a concern shared by various regulators and countries around the world. The year 2019 may go down as a landmark in the annals of tax policy. US 2019 Auto Sales Were Lowest In Five Years.

CA 130

CA Lending Apple South Dakota 130

PYMNTS

OCTOBER 1, 2020

Consumers and microbusinesses now get an average of two disbursements each year, excluding tax disbursements from local, state and federal governments. 1: Instant disbursements as a percentage of all non-tax disbursements in the U.S. Fast Fact No. are growing — but slowly. More than two-thirds of consumers (68.1 Fast Fact No.

Trends 306

Trends Study Taxes Payments 306

PYMNTS

FEBRUARY 19, 2020

The final proposals — including feedback from stakeholders — are anticipated by the end of 2020. The proposals coincide with efforts by some EU countries to levy digital taxes on large American technology companies. There is also a proposal for getting rid of EU regulations against anti-competitive data sharing.

Policies 151

Policies social media Data Washington 151

PYMNTS

APRIL 14, 2020

Gig workers’ rights and benefits — including healthcare and access to unemployment — have become key topics debated by regulators in th e United States as they work to figure out how to provide support. and other countries is the way consumers and regulators th ink about it. How The Pandemic Is Impacting Business Regulations.

Regulation 285

Regulation Examples United States National 285

Abrigo

FEBRUARY 5, 2021

Takeaway 1 To prevent the kind of fraud that plagued the Paycheck Protection Program in 2020, the SBA has put new measures in place that have created challenges. Takeaway 3 Meanwhile, regulators continue to reinforce the importance of lenders knowing customers and beneficial owners. That issue was resolved. mail, Craig said.

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Fraud Lending Taxes Regulation 195