Gig workers and small business owners are reportedly using the payment service Zelle to avoid declaring taxable earnings to the IRS. While users of Zelle are required to declare their earnings, Zelle itself said it does not have to declare transactions made through the payment...
As British Prime Minister Rishi Sunak’s government attempts to move on from the short-lived Truss tenure, all signs point toward a major realignment of the British tax regime that will seek to plug a 60 billion pound ($68.7 billion) hole in the public finances. The...
In recent years, several African countries where mobile money transactions are a popular means of payments have introduced levies on digital transactions, much to the dismay of local consumers and small businesses hit the hardest. While those in favor of the electronic transaction levy (eLevy)...
As European economies seek shelter from inflation, governments across the continent are turning to windfall taxes — aimed at an industry that is perceived to have profited from a sudden increase in income — as a way to fund initiatives and alleviate some of the...
The Internal Revenue Service is set to pay billions in interest to tax filers as it struggles to process tax refunds. That’s according to a Monday (May 9) report from the Wall Street Journal, which noted that the IRS has raised the rates it pays...
This week marks the launch of Ghana’s “eLevy,” a 1.5% tax on all mobile money transactions higher than 100 Ghanaian cedis (about $13). But as the BBC reported Sunday (May 1), the tax — which applies to bank transfers and remittances as well — has...
Tax Day 2023 is nearly a year away, but Verizon wants fleet-based businesses to have ample time to prepare. To that end, the telecom company announced in a Tuesday (April 19) press release a new collaboration between Verizon Connect — the company’s fleet management unit...
The federal Internal Revenue Service is investigating whether American Express sales staff gave faulty tax guidance to potential customers in an effort to sell them payment card-related services, the Wall Street Journal reported. The pitch, according to the Journal, which reported its use in November,...
The world’s biggest online platforms could be assessed an annual fee of up to 0.1% of yearly net income to cover costs to regulate compliance with European Union (EU) rules requiring them to police their content, Reuters reported Tuesday (April 5). The Digital Services Act...
