HEADLINES
Research findings: Growing global business strains cross-border payments tools
As corporations and consumers do more business internationally, cross-border payments are becoming both easier and more complicated, according to the findings of a recent project by research firm...
IRS responds to outcry, softens requirements for credit card reporting
Businesses now won’t have to reconcile their internal records and payment processors’ receipts, which rarely match. A law that goes into effect in 2013 would have required explaining the...
Airline frequent flier miles appear to be taxable now, at least for Citibank customers
People who received free airline frequent flier miles for opening a bank account got another gift they didn’t expect: a 1099 form from Citibank, which says the incentive is reportable to the IRS.
B2B e-invoicing increased by 20 percent worldwide in 2011
The number of B2B e-invoices sent globally rose by 20 percent in 2011, with large markets such as Germany, Mexico and France accelerating the adoption curve, according to Basware and Billentis.
Taiwan embraces e-invoicing by touting its 100-millionth electronic transaction
Just before the new year, Taiwan celebrated its 100-millionth e-invoice, marking the occasion by vowing to award an iPad 2 to the business that made the transaction. The government is trying to show...
‘Tax gap’ has grown wider instead of shrinking, new IRS report says
Despite federal efforts to crack down on compliance, the “tax gap” – the difference between what the IRS is owed and what it receives from taxpayers – has not only failed to shrink, but has become...
Lawsuit over patents pits Fiserv against rival FIS in battle over transaction technology
In a suit filed recently in U.S. District Court in Jacksonville, Fla., bank processor Fiserv charges rival company Fidelity National Information Services, known as FIS, with infringement of several...
Go on, relax! IRS has extended the tax reporting deadline to April 17 this year
Taxpayers have two extra days to prepare their returns this year, the IRS announced this week. That’s because the annual April 15 deadline falls on a Sunday, and the following Monday is a holiday in...
Ouch! These ERP failures made the top 10 list for 2011
Think you’ve seen some hiccups with ERP software and the way it affects your job in financial operations? Take a look at these doozies listed in PC World’s list of the 10 biggest ERP failures of ...
IRS chief: Agency reaching out to help taxpayers comply with ‘extremely complex code’
As commissioner of the IRS, Doug Shulman says it’s his job to help taxpayers who are wrestling with an “extremely complex code” while making sure everyone pays a fair share. His solution, he says in a...