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Learn MoreWhether they're triggered by criminal fraud, duplicate charges, a technical glitch or a dissatisfied customer, credit card chargebacks can become a nagging pain point for A/P and a disruptor to the efficiency and profitability of your business. In fact, Mastercard…
The big January 31 filing deadline for Form 1099-NEC is almost here! Organizations must not only put Form 1099-NEC into the hands of payees by that date, the IRS needs its copies of the returns by Jan. 31 as well.…
If a poll of attendees of a recent IOFM webinar is any indication, it's going to be a very busy Form 1099 reporting season in 2024 for your team. More than half (57%) of the respondents expected to file at…
Because of the American Rescue Plan of 2021, more companies and gig workers will be receiving Form 1099-K, Payment Card and Third Party Network Transactions, starting with tax year 2023. If you received gross payment transactions totaling more than $600…
Fall is the crunch-time season for unclaimed property reporting and escheatment. The states with approaching deadlines are almost as numerous as the leaves falling this time of year. The majority of them are either October 31 or November 1. In…
Sales tax compliance is a demanding job for finance teams like yours. For example, comparing the number of tax rate changes across the U.S. for January 1-June 30, 2023 vs. January 1-June 30, 2022, the volume of changes increased 43%,…
In case your finance team had been in cruise control heading into year-end because IRS's quarterly interest rates hadn't changed since the beginning of 2023 - surprise! There are new rates as of October 1, 2023. IRS Rev. Ruling 2023-17…
How many times has your Finance team seen the word "processing" on their laptop screens this week? Instant payments, both via The Clearing House's RTP (Real-Time Payment) Network and the Federal Reserve's 24/7/365 FedNow Service, are poised to change that.…
B notice season (September through October) can be a minefield for A/P pros because nobody wants the extra work of calculating 24% backup withholding or fielding calls from unhappy vendors about the reduced payments. It should come as no surprise…
The more invoices a business is sending out, the better the health of the company. After all, a lot of invoices in the pipeline means a company's products or services are in demand. What CFO wouldn't be happy in that…
On July 20, the Federal Reserve announced the FedNow Service, a 24/7/365, instant payments system, is officially live. Touted as the biggest upgrade to the U.S. payments system in 50 years, FedNow looks like it's going to be more than…
Because your A/P staff is so good at keeping important bills paid, it unfortunately makes them a prime target for payment fraud email campaigns. Official-looking notices can arrive in their inboxes warning that you’re about to lose customers because your…
Resourceful Finance Pro, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day's headlines, Resourceful Finance Pro delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.
