taxes

A tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law.

Source: en.wikipedia.org

Killing Tip Taxes May Give Momentum to Instant Digital Payouts

Killing Tip Taxes May Give Momentum to Instant Digital Payouts
Killing Tip Taxes May Give Momentum to Instant Digital Payouts
November 11, 2024  |  Disbursements

Headed into last week’s presidential election, both Donald Trump and Kamala Harris endorsed eliminating taxes on tips. Coming into office in January 2025, Trump, now...

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This Week in B2B: AI at Work and the Partnership Effect
This Week in B2B: AI at Work and the Partnership Effect
November 07, 2024  |  B2B Payments

B2B innovation doesn’t move slowly, it gets slowed down — mostly by complexity. While entrenched corporate cultures and legacy workflows hinder innovation, businesses typically cling...

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Sovos Unveils 1099 Professional for SMB Tax Reporting
Sovos Unveils 1099 Professional for SMB Tax Reporting
November 06, 2024  |  Taxes

Tax information reporting can be a challenge for small and medium-sized businesses (SMB). For example, there are 21 different types of IRS 1099 forms, there...

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Penalties Loom Large for Unclaimed Property Reporting Missteps
Penalties Loom Large for Unclaimed Property Reporting Missteps
November 06, 2024  |  Legal & Regulation

Tax season is officially over — even the Oct. 15 extension deadline has come and gone. But for banks and corporates, depending on the states...

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Durbin Shows Support for Illinois Interchange Law by Filing Amicus Brief
Durbin Shows Support for Illinois Interchange Law by Filing Amicus Brief
October 08, 2024  |  Legal & Regulation

U.S. Sen. Dick Durbin of Illinois is supporting an Illinois law that will bar the charging of interchange fees on the tax and tip portions...

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Sovos Debuts Indirect Tax Suite for SAP
Sovos Debuts Indirect Tax Suite for SAP
October 01, 2024  |  Taxes

Tax compliance company Sovos has unveiled its indirect tax suit for SAP. The new offering, announced Tuesday (Oct. 1), is a “first of its kind” solution for indirect tax...

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Global Embrace of eInvoicing Targets Fraud
Global Embrace of eInvoicing Targets Fraud
September 19, 2024  |  B2B Payments

Businesses want to be paid in a timely manner. Governments want tax revenue. The advantages of cutting down on paper — and, specifically, paper invoices...

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White House Proposes New Trade Rules to Counter Chinese eCommerce Companies
White House Proposes New Trade Rules to Counter Chinese eCommerce Companies
September 13, 2024  |  eCommerce

The Biden administration said Friday (Sept. 13) that it plans to change trade rules that it said have been abused by China-founded eCommerce platforms. The...

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