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Tax ID Fraud is Taxing on Financial Institutions

Abrigo

Understanding tax ID fraud FinCrime professionals looking to prevent tax ID fraud, first need to understand the fundamentals of what is happening and their best recourse for prevention. Takeaway 1 Fraudsters file illegitimate tax returns early, hoping people wait to submit their legitimate ones.

Taxes 195
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Small Business Lobby Denounces GOP Tax Plans

PYMNTS

The GOP unveiled its plans for tax reform late last week in an effort to streamline the tax code, a move that aims to cut the tax rates for corporates. In a statement released late last week, the NFIB said it is “unable to support the House tax reform plan in its current form.”.

Taxes 100
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Lift Off to the Oracle SCM Cloud! – Why Move to Cloud for SCM Enablement?

Perficient

This exercise can seem especially daunting within the SCM application realm, specifically, because the breadth and depth of these capabilities are severely intertwined not just amongst themselves, but also with other parts of the application ecosystem like Finance, Reporting, Tax and Master Data, just to name a few. .

Exercises 322
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Big Tech Compliance Tracker: Tencent Says Big Tech Needs Greater Oversight; Group Seeks To Block Maryland Online Ad Tax

PYMNTS

The tech company’s formidable performance comes as Chinese authorities seek to exercise more control over the nation’s top digital platforms. Group Seeks to Block Maryland Online Advertising Tax. Maryland legislators ratified the tax earlier in 2020, but Gov. Maryland legislators ratified the tax earlier in 2020, but Gov.

Maryland 151
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Fraud typologies all financial institutions should know

Abrigo

Sweepstakes/charity/lottery scams Victims are told they have won a lottery or sweepstakes but must pay taxes or fees to claim their prize. Institutions should also offer scenario-based exercises and provide access to updated fraud prevention resources to ensure staff can respond effectively to suspicious activities.

Fraud 221
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Taiwan Approves $2B Stimulus To Pad Coronavirus Effects, China Sees eCommerce Boom

PYMNTS

The money will help small businesses and tour agencies, as well as provide tax cuts for tour bus drivers. They’re buying makeup, condoms, exercise equipment and Nintendo Switch games. I want to exercise at home to be healthy and fit.”. Taiwan is heavily export-reliant, so the virus has affected it in a significant way.

Exercises 163
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What are opportunities for accountants to provide advisory services?

Abrigo

Accounting, audit and tax services are unlikely to be the growth engines of the accounting profession in the coming years. The weeks and months following the end of tax and audit seasons represent an excellent time for firm leaders to take stock of their accounting practices and the services clients may need.

Exercises 150