Crypto and Web3 firms have been asking for more regulatory clarity for years. And now, with the news Sunday (June 30) that the European Union’s landmark Markets in Crypto-Assets Act (MiCA) new regulatory requirements for stablecoin issuers have gone live, observers are wondering if the digital asset sector’s...
Where a business spends its money typically defines its strategy. And with the news last Thursday (May 2) that the Internal Revenue Service (IRS) is seeking more funding to continue scaling its digital transformation efforts as part of its Strategic Operating Plan, process modernizations designed to...
It’s March — and for many corporations and government agencies, the race is on to file a complete accounting, particularly with Form 1042-S, with the IRS. Wendy Walker, solution principal at Sovos, told PYMNTS that companies operating on an international basis grapple with ongoing challenges...
Businesses do not have to report certain transactions involving digital assets until the Treasury Department and the Internal Revenue Service (IRS) issue regulations. The agencies said this in a Tuesday (Jan. 16) press release and issued an announcement that provides transitional guidance as they implement...
March 06, 2024
It’s March — and for many corporations and government agencies, the race is on to file a complete accounting, particularly with Form 1042-S, with the IRS. Wendy Walker, solution principal at Sovos, told PYMNTS that companies operating on an international basis grapple with ongoing challenges of reporting and reconciliation. As she explained, Form 1042-S reports […]
July 16, 2024
The IRS is warning tax professionals of a rise in scams designed to steal taxpayer information. The tax agency and its “Security Summit” partners — a group of state tax agencies and private tax industry organizations — said Tuesday (July 16) they are seeing a “steady stream” of phishing scams and cloud-based schemes. These email […]
January 17, 2024
Businesses do not have to report certain transactions involving digital assets until the Treasury Department and the Internal Revenue Service (IRS) issue regulations. The agencies said this in a Tuesday...
November 20, 2022
Unemployment compensation in the U.S. jumped by 1,794% between 2019 and 2020 as Americans were hit by a wave of layoffs during the COVID-19 pandemic. That’s according to a report...
November 07, 2022
Gig workers and small business owners are reportedly using the payment service Zelle to avoid declaring taxable earnings to the IRS. While users of Zelle are required to declare their...
