Unclaimed property reporting can easily trip businesses up, landing them in the audit crosshairs of state governments and possibly leading to penalties and interest. In addition to all 50 states, Washington D.C., Puerto Rico, Guam and the U.S. Virgin Islands…
Payments and Transactions
Compared to the rest of the world, the U.S. has lagged behind in rapid B2B payments technology, but that's about to change. The Federal Reserve's FedNow service is coming soon! The Fed says its more modernized payment infrastructure will launch…
Failed B2B payments can be disruptive in areas beyond cash flow. For instance, if your bank has to repeatedly put in extra work to process ACH payments, there’s a chance they could stop making the necessary changes to pay files…
2023 promises to be a very challenging year for Accounts Receivable departments. The word from many in the A/R and credit & collections arena is that customers are stretching payments as far as possible, and past-dues are surging. Inflation and…
IRS is extending tax relief to businesses in Broward County, FL affected by the tornadoes, severe storms and flooding from April 12-14. Federal tax filings and tax payments originally due starting April 12, 2023, have been postponed until August 15,…
With all the work your A/P department puts into issuing timely payments, it can be frustrating to find out there's unclaimed property floating around out there. Unclaimed property laws vary widely from state to state, and can be very confusing.…
Although consumers have fully embraced digital payments - peer-to-peer mobile apps, electronic bill-pay services and getting paid via direct deposit, to name a few - many companies are slow to adopt modern electronic payment technologies. In fact, last year a…
Imagine getting a Notice of Final Determination from a state revenue department that said it wasn't going to recognize a use tax exemption that your organization was claiming, and that you owed $74,000 more than what you thought you were…
The 2022 End-of-Year Sales Tax Rates and Rules report by tax technology solutions provider Vertex Inc. has both good news and bad news for your finance team. First, the good news: The overall number of sales tax rate and rule…
Embedded payment systems have a lot to do with why your employees like using Amazon and Uber. The payment process integrated into their apps can be engineered to be so convenient - even one-click quick - that they don't have…
Sales and use tax shouldn't just be the responsibility of your A/P and A/R departments. Although they're the ones who are experts in sales and use tax liability, your sales and purchasing teams can support Finance by double-checking that the…
It's not too late to get tax relief in the form of the Employee Retention Credit that was created as part of the CARES Act in 2020, then retroactively improved and extended by additional legislation. The credit can still be…
