MyIRSRelief
SEPTEMBER 2, 2019
The Tax Court has upheld the IRS’s decision to reject a taxpayer’s proposed offer-in-compromise and to decline to abate interest and failure-to-pay additions to tax. The IRS may enter into an offer-in-compromise to reduce a taxpayer’s outstanding tax liability if, among other reasons, there is doubt as to collectability. Rejection of offer in compromise OIC denial-.
PYMNTS
SEPTEMBER 5, 2019
In China, the central bank will debut a state-backed cryptocurrency that initially will be issued to seven institutions in that country, Forbes reported this week. The news comes from Paul Schulte, who was head of financial strategy for China Construction Bank. He told the financial publication the firms include the Industrial and Commercial Bank of China, the Bank of China, Alibaba, Tencent, Union Pay and others.
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Katz,Sapper&Miller
SEPTEMBER 4, 2019
The Tax Cuts and Jobs Act of 2017 added a new anti-deferral rule known as Global Intangible Low-Taxed Income (GILTI). The GILTI provisions impact taxpayers that own an interest in certain foreign corporations that are classified as controlled foreign corporations (CFC). Below is a brief background on the basic GILTI rules as well as highlights of significant developments in the final regulations that were issued in June 2019.
PYMNTS
SEPTEMBER 4, 2019
Amazon is testing a new payment system that uses handprints for checkout instead of a card or an app, The New York Post reported on Tuesday (Sept. 3). Codenamed “Orville,” the technology will scan human hands to ring up purchases. Sources told the NYP that the e-commerce giant is using its New York employees as test subjects by installing the system on a handful of vending machines selling chips, sodas and phone chargers in its offices.
Speaker: David Worrell, CFO, Author & Speaker
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
PYMNTS
SEPTEMBER 3, 2019
The famous 17 th -century political satirist and author, Jonathan Swift , wrote in 1745 that “vision is the art of seeing things invisible.” Two hundred and seventy-four years later, those words are the perfect framework for understanding what will define the next decade of innovation in payments and any ecosystem that touches it. Which, increasingly, is just about every ecosystem.
PYMNTS
SEPTEMBER 3, 2019
Today if one says the word eBay anywhere in the U.S. — and in multiple spots around the world — you will be hard-pressed to find someone who doesn’t instantly know as to what you are referring. They may never have made a purchase on the online marketplace, but the odds are good they know at least one good story about something bought it on eBay story.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
SEPTEMBER 5, 2019
Samsung ’s latest Galaxy Note 10 aims to boost blockchain adoption by making it more user-friendly, The Wall Street Journal reported Thursday (Sept. 5). The new product will be marketed as a “KlaytnPhone,” named after a South Korean blockchain platform, sources told the WSJ. Right now, it’s only being sold in South Korea. The smartphone will have the same hardware and packaging as the recently-released Galaxy Note 10, and prices will start at around $1,000, the sources said.
PYMNTS
SEPTEMBER 4, 2019
Visa announced that since their inception, chip cards have reduced counterfeit fraud by 87 percent. . “Chip cards are increasingly becoming the norm as usage and acceptance has continued to grow since the EMV standard was first introduced in 2011,” the company said. “That’s good news for everyone but fraudsters. The latest data shows that Visa payment cards with an embedded EMV chip has had a significant impact on counterfeit fraud, which is when criminals copy your payment card data onto a fake
PYMNTS
SEPTEMBER 2, 2019
The People’s Bank of China (PBoC) is looking toward new technologies to keep a closer eye on the nation’s FinTech , blockchain and digital lending markets. “Regulators using new technologies to supervise FinTechs and the financial industry — called Suptech, short for supervisory technology — is another area where China is generally thought of as a world leader,” said one adviser who works closely with large Chinese FinTech companies, according to the Financial Times.
PYMNTS
SEPTEMBER 5, 2019
Biometric payments are making another run at the grocery store, this time at the hands or Amazon. Or, to be more precise, in the hands of Amazon’s customers. Amazon, the company that brought consumers scan and go, is about to bring consumers pay by hand — a new payment system designed to allow Whole Foods shoppers to pay for their groceries by merely waving at a scanner.
Speaker: Dave Sackett
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
PYMNTS
SEPTEMBER 1, 2019
Google ’s Project Zero team was the first to let Apple users know iPhones and related Apple products have been subjected to a breach , Forbes reported Sunday (Sept. 1). About 1 billion users learned “hacked websites” were used to infiltrate iPhones over the past two years. Since the attack was sophisticated, scaled and targeted along geographic and demographic lines, a nation state-sponsored perpetrator is suspected.
PYMNTS
SEPTEMBER 3, 2019
Seven European payments operators — most of them owned by banks — that own and operate mobile payments services said Tuesday (Sept. 3) that they are in the midst of building a pan-European network focused on cross-border mobile payments. As reported by Bloomberg Tuesday, the European Mobile Payment System Association initiative comes as banks and traditional financial services players continue to battle FinTechs and Big Tech for share of mind and share of wallet across the payments landscape.
PYMNTS
SEPTEMBER 5, 2019
Commercial and consumer cards issued in the U.S. generated $6.13 trillion in spending for goods and services in 2018, The Nilson Report said in a press release Thursday (Sept. 5). Commercial card spending is up 11.7 percent, compared to consumer card spending, which grew by 10.1 percent. Commercial card spending was $1.39 trillion last year. Consumer card spending was $4.74 trillion.
PYMNTS
SEPTEMBER 2, 2019
For B2B payments, this summer was a season of technological progress. Both buyers and suppliers say they are looking forward to adopting technology that can tackle their biggest accounts payable (AP) and accounts receivable pain points, with PYMNTS’ July Payables Friction Playbook , a collaboration with Corcentric, finding that 42.6 percent of AP professionals say they already receive invoices via an eInvoice solution.
Speaker: Erroll Amacker
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
PYMNTS
SEPTEMBER 5, 2019
A new API standard for the pre-authorization of funds is being rolled out by SWIFT, clearing a path for a revolution in financial services enabled by open banking, the company said in a press release on Thursday (Sept. 5). API standards accelerate the introduction of new services. With this latest standard, a payer’s bank can designate funds in advance, assuring upcoming payments will clear. .
PYMNTS
SEPTEMBER 6, 2019
The use of digital identities is becoming commonplace, and consumers are largely satisfied with their presence. In fact, PYMNTS’ Digital Identity Lifestyle Capsule found that 100 percent of eCommerce customers who were required to submit digital copies of their physical ID documents when creating accounts said it was a satisfactory authentication process.
PYMNTS
SEPTEMBER 4, 2019
Fiverr, the company that matches freelancers to jobs, has announced a new eCommerce-based store with the intention of helping online businesses with services that support all their needs, the company said in a release. . Through the new store, businesses that use platforms like Magento, Shopify and Woocommerce can search for services like SEO, drop shipping, web design and development.
PYMNTS
SEPTEMBER 2, 2019
Regulators are taking a closer look at financial apps that allow workers to access their pay early. The apps claim they are more affordable — and safer — alternatives for Americans who live paycheck to paycheck, according to The Wall Street Journal. But regulators from New York and 10 other states aren’t convinced. Last month, they started investigating whether some of these firms violated payday-lending laws, sending out letters to payroll-advance apps , including Earnin , PayActiv and Even Res
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PYMNTS
SEPTEMBER 3, 2019
U.K. challenger bank Starling Bank is gearing up to launch a web portal this month, as well as to introduce new loan offerings from third-party providers. The company submitted its biannual update to Banking Competition Remedies, according to AltFi reports Friday (Aug. 30), a requirement following the award of £100 million from the BCR fund earlier this year.
PYMNTS
SEPTEMBER 4, 2019
In India, funding activity over the past weeks headed into the end of August showed that eCommerce startups focused on home delivery gained traction, as measured by funding rounds. As tracked by PYMNTS, total funding activity along sectors as far-flung as logistics, eCommerce, alternative finance and payments tech stood at roughly $2.3 billion USD. Breaking that down a bit, logistics stood at just over 47 percent of the total, at a bit more than $1 billion, and eCommerce stands at $259 million.
PYMNTS
SEPTEMBER 3, 2019
Apple has been granted three separate patents related to the Apple Watch, which would allow for biometric identification, automatic tightening of the band and lighted indicators, according to a report. The biometric sensor would use infrared to take a “picture” of a person’s wrist and then use the identifying traits as an unlocking device. Currently, there is no way to unlock an Apple Watch without using a PIN or setting it to unlock when a person unlocks their phone.
PYMNTS
SEPTEMBER 4, 2019
Australian supply chain-focused blockchain technology company Security Matters has filed a patent application in the U.S. towards the marking, tracking and managing of the supply chain of cannabis plants, cannabis products and products containing cannabis-based ingredients. The methods will be used for the company’s chemical solution for marking plants completed during any of the six stages of plant growth and cultivation, as well as directly to the seed before planting.
Speaker: Anna Tiomina, MBA
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
PYMNTS
SEPTEMBER 4, 2019
Travel commerce and payments firm CellPoint Digital and the airline-owned payment network UATP are in a deal with Southwest to let customers buy tickets and other services using Apple Pay, CellPoint said in a press release on Wednesday (Sept. 4). “Providing modern digital payment solutions to our customers is critical,” said Christopher Priebe, director of treasury, payments and risk at Southwest Airlines. “The launch of Apple Pay enhances our ability to sell flights, as well a
PYMNTS
SEPTEMBER 2, 2019
It was a summer of last-mile delivery and new subscription pushes. It was a season of fulfillment expansion and voice assistance (even Nike sneakers got involved). It was months of tariffs and trade wars. But most of all, perhaps, it was a time of meatless alternatives. As PYMNTS prepares to BBQ and drink sangria and maybe even hum some union solidarity anthems in honor of this holiday weekend, we ask you to take a few moments to join us on a “greatest-hits tour” of this past summer of retail.
PYMNTS
SEPTEMBER 4, 2019
International Monetary Fund (IMF) Chair Christine Lagarde said financial supervisors and central banks should be more open to cryptocurrencies, even as they protect consumers, according to reports. “In the case of new technologies — including digital currencies — that means being alert to risks in terms of financial stability, privacy or criminal activities, and ensuring appropriate regulation is in place to steer technology towards the public good,” Lagarde said.
PYMNTS
SEPTEMBER 3, 2019
Summer is unofficially over and the kids are back in school. For some, that’s a mix of good and bad news (summer with children can be difficult, after all, no matter how well behaved they are), and for the fledgling ridesharing service Zum , it’s another season of business. Zum (pronounced like “zoon”) focuses on using private rideshares to get children to and from school and their extra circular activities.
Speaker: Joe Wroblewski, Senior Sales Engineer
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
PYMNTS
SEPTEMBER 5, 2019
Opportunities come in various forms and disguises, and that could be the case for payments and commerce operators when it comes to the European Union’s revised Payment Services Directive (PSD2) and its strong customer authentication (SCA) rules. Those rules stand as among the most critical emerging regulations in payments and commerce, and over the long term, there would seem to be little mercy for those businesses that fail to comply and fail to find a way to make those regulations work to thei
PYMNTS
SEPTEMBER 3, 2019
Point-of-sale technology firm Square is teaming up with U.K. bank TSB Bank to offer a suite of financial services to joint small business customers. A press release Monday (Sept. 2) said TSB small business owners will be offered Square POS software and a free Square Reader to be able to begin accepting payments and launch their businesses. Together, TSB and Square will also provide those small businesses with analytics based on bank and POS data for performance tracking, while they will also be
PYMNTS
SEPTEMBER 5, 2019
Seventy percent of gig economy workers are still living paycheck to paycheck, despite pulling in more money than ever. Instant payments and disbursements are therefore only growing more integral to every facet of the gig economy ecosystem. Nearly 40 percent of U.S. workers are engaged at some level with the gig economy, and most of them are hoping that instant and faster payments continue to grow in scope.
PYMNTS
SEPTEMBER 6, 2019
In the waning days of summer, venture capitalists appear to be in a lull: only $51.2 million was placed with B2B FinTechs this week. Startups in India saw the majority of that activity, while France and the U.S. landed on the board, too, as alternative lending, small business banking, back-office financial management and accounts receivable technology enticed backers.
Speaker: Melissa Hurrington
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
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