The IRS plans to deny tens of thousands “improper high-risk” Employee Retention Credit (ERC) claims amounting to billions of dollars. This decision follows a review of a group of more than 1 million ERC claims that confirmed widespread concerns about improper claims, the IRS said in...
Transport yourself back to April 2020. A national emergency had been declared on March 11, and the lockdowns started soon afterward. Employees in the millions were bemused by orders to work from home. Panic shopping for cleaning supplies and personal protective equipment (PPE) was kicking...
Across 18 months and 12 studies surveying more than 24,000 U.S. consumers, PYMNTS’ Pandenomics report series has tracked the arc of consumer sentiment, from early months when fear of contracting COVID-19 was topmost, to the present moment, where things have flipped. The latest installment in...
Business bankruptcies are predicted to rise next year as governments pull the plug on pandemic-related financial support, CNBC reported on Wednesday (Oct. 6), citing a report by Euler Hermes. Worldwide, business insolvencies are forecasted to go up 15 percent next year, following two years in...
The United States has turned a new corner on the pandemic. Vaccination rates are rising, and, in turn, consumers’ worries about infection are receding. Health is therefore no longer consumers’ primary concern about how the pandemic might impact their lives. Forty-eight percent of consumers say...
The last 18 months have taken a toll on the United States business sector, but mom-and-pop shops on Main Street U.S.A. have emerged from the experience stronger than ever. Main Street’s small and mid-sized businesses (SMBs) recovered from the pandemic’s economic shock faster and are...
The PYMNTS series of special reports dubbed “Pandenomics” — a portmanteau of “pandemic” and “economics” for the uninitiated — continues tracking these forces as one influences the other. For the latest report, Pandenomics: The Digital Transformation Of Main Street SMBs, researchers surveyed nearly 640 small and...
The surge in the delta variant of COVID-19 has the U.S. seeing new hurdles thwarting its economic recovery, according to a report from The Wall Street Journal (WSJ). This is a reversal from the predictions earlier in the summer, which had Labor Day as the...
Sweden has banned all U.S. travelers, regardless of vaccination status, from traveling to the country, a report from AFAR stated on Tuesday (Sept. 7). The European Council preceded the move by Sweden, when it decided last week to remove the U.S. from its safe travel...
