The IRS on Thursday issued its “Dirty Dozen” tax scams for 2020, pointing out that it was placing special emphasis on aggressive and evolving schemes related to coronavirus tax relief, including economic impact payments (IR-2020-160). “Tax scams tend to rise during tax season or during times of crisis, and scam artists are using pandemic to […]
Archives for July 2020
Universal Basic Income is inevitable
What if I told you that, one day, when we look back, we’ll realize that the dream of Andrew Yang actually came true under the Trump administration – a giant leap toward Universal Basic Income, brought about by the peculiar circumstances of the worst global pandemic in a hundred years and the upcoming election… On […]
Xafinity SIPP launches new online hub
Xafinity SIPP has launched a new mobile-friendly ‘SIPPCentre’ hub which it says will boost service to clients and financial advisers by adding more extensive features and document storage. Functionality on the SIPPCentre, which replaces a previous portal, includes: • Full bank account transaction history • All investments and valuations • Commercial property information centre, including […]
Twitter says about 130 accounts were targeted in cyber attack this week
Twitter disclosed late on Thursday that hackers targeted about 130 accounts during the cyber attack this week, an incident in which profiles of many prominent personalities and organizations were compromised. Hackers had accessed Twitter’s internal systems to hijack some of the platform’s top voices including U.S. presidential candidate Joe Biden, reality TV star Kim Kardashian, […]
Curefit cuts more jobs, furloughs staff as business suffers amid lockdown
Health and fitness startup Curefit has undertaken a second round of layoffs and furloughs, impacting hundreds of employees, two months after it laid off over 700 workers, according to people directly aware of the matter. The downsizing comes at a time when the company anticipates its operations to take more than a year to recover […]
EY-LeaseAccelerator alliance provides new lease accounting and contract management service – Accounting Today
EY U.S. has partnered with LeaseAccelerator to provide a new lease accounting and contract management service offering for organizations of any size. The new service from EY will leverage LeaseAccelerator’s accounting and lifecycle management software to provide customers with a managed service capable of filling needs globally. The U.S.-based alliance will also be active in […]
NPCI raises scope and limit of debit transactions on NACH platform
Bank customers can soon automate the payment of their credit card bills, insurance premiums, loan instalments and all such transactions of recurring nature up to an increased limit of Rs 10 lakh. The National Payment Corp of India (NPCI) has enhanced the limit for giving e-mandate on debit card and net banking transactions through their […]
Georgia Gov. Brian Kemp sues Atlanta mayor over city’s face mask mandate
Georgia Governor Brian Kemp speaks to the media during a press conference at the Georgia State Capitol on April 27, 2020 in Atlanta, Georgia. Kevin C. Cox | Getty Images Georgia’s governor on Thursday sued Atlanta’s mayor over that city’s mask law, a day after the governor banned local governments from requiring the coverings that […]
Tax-News.com: US Announces Tariffs On French Goods In Response To DST
The Office of the US Trade Representative has announced that the US will impose additional duties of 25 percent on imports of certain French products from next year in response to the country’s decision to introduce a digital services tax.
Tax-News.com: J5 Group Marks Two Years Of Collaboration On Tackling Fiscal Crime
On July 13, 2020, the US Internal Revenue Service (IRS) issued a progress report on the last two years’ work of the J5 group of five advanced countries, who are working collaboratively to tackle cross-border tax fraud.