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A new IRS portal for coronavirus relief payments has been launched in conjunction with the U.S. Treasury to assist people who don’t typically file taxes. . The non-filer tool can be used by U.S. citizens and resident aliens who are not claimed as dependents and had gross income below $12,200 ($24,400 for married couples) in 2019, according to the IRS site.
Times of crisis mean uncertainty, both personally and professionally. Anyone who makes “gut instinct” decisions in a hurry isn’t making decisions that are well-informed and carefully considered. For organizations of all sizes and sectors, this is particularly important for FP&A. In this blog post, we’ll look at the importance of agility in FP&A in being able to better manage uncertainties, even during uncertain times and build resilience for the future.
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te
The coronavirus pandemic poses an unprecedented challenge to healthcare systems that will likely extend for months — and perhaps even years — to come. More than ever, hospitals and other medical facilities need to focus their resources on healing the sick and avoid getting bogged down by administrative costs and inefficiencies. This brings a longstanding challenge to the fore: Healthcare organizations have long struggled with fraud, waste and abuse (FWA), costing the United States healthcare sec
While many businesses are being forced to temporarily shut their doors in response to COVID-19, essential businesses are still functioning and keeping their doors open. Even at limited capacity, there are things your essential small business can do to ensure safety and ultimate social distancing. Read on to find 5 easy measures to implement for ultimate safety operations: 1.
While many businesses are being forced to temporarily shut their doors in response to COVID-19, essential businesses are still functioning and keeping their doors open. Even at limited capacity, there are things your essential small business can do to ensure safety and ultimate social distancing. Read on to find 5 easy measures to implement for ultimate safety operations: 1.
A Gartner survey of 317 CFOs and finance leaders on March 30, 2020, revealed that due to COVID-19 62% of respondents are planning some cuts to selling, general and administrative (SG&A) budgets in their organizations in 2020. Also, 18% are planning to cut budgets in every category by at least 10%, with marketing departments expecting to be first in line for cuts of 10% or more.
Intimidated by the scale and cost of a massive technological overhaul, large financial institutions (FIs) may approach their digital transformation (DX) journeys gradually, targeting various areas of operations to modernize one-by-one. While this strategy can yield results, it can also create silos, hampering a bank’s ability to achieve one of the most vital goals of DX: seamless integration of operations that boost efficiency and improve the end-user experience.
The COVID-19 pandemic has triggered an unprecedented wave of business closures, placing millions out of work with no telling when they will be back to business as usual. It has also exposed and exacerbated a deeper, more structural problem with the United States economy that has been looming just beneath the surface for some time: A large portion of Americans are living hand-to-mouth and have almost no savings.
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
A quick recovery may be in the cards. But so might a “false start.”. Thursday morning, the U.S. Federal Reserve said that it had launched a multi-trillion dollar lending program that targets smaller businesses, and in a broadened salvo, targets local governments, too. It’s all meant to shore up the U.S. economy, as the fallout from the coronavirus continues.
A deluge of chargebacks is headed toward the payments industry, spurred by the coronavirus, as all areas of the global economy have been upended. In an interview with Karen Webster, Johan Gerber, executive vice president of cyber and security products at Mastercard , said that many companies are being inundated with disputes and cancellations, and with demands to refund consumers’ money — a trend that will branch out from travel and leisure verticals and into other segments.
For the last week, a veritable tidal wave of small- to medium-sized business (SMB) owners have been lining up to apply for Paycheck Protection Program (PPP) funds — a $350 billion segment of the $2 trillion in government stimulus passed as part of the CARES Act a little less than two weeks ago. Small business owners pushed rapidly and unexpectedly to the brink of survival are clamoring for funds; money that various federal officials promise daily will be swiftly delivered.
With a little over 600 million worldwide users, LinkedIn was a household name long before the coronavirus cut an incredibly wide trench through the global economy in general, and the world of working in particular. The social media service for professionals was already the established, favored digital hub for professional networking, job hunting, talent scouting and corporate content.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
Travelex, the foreign exchange company that was crippled by hackers on New Year’s Eve, reportedly paid a $2.3 million ransom to get their systems back online, The Wall Street Journal reported. Sodinokibi, the alleged perpetrators of the cyberattack, claimed responsibility for the breach. The cybercriminals demanded $6 million in ransom with a promise that they would not release the sensitive information of Travelex customers, including birthdates and credit card numbers.
Procure-to-pay tool BuySpeed , which is used by government entities, was vulnerable to a zero-day, cross-site scripting flaw that has reportedly been resolved, SC Media reported. The CERT Coordination Center at Carnegie Mellon University’s Software Engineering Institute, which had said it was not aware of a practical solution to the bug, had published a vulnerability advisory on the bug found in version 14.5 of the product.
Amid increasing demand for contactless delivery, Starship Technologies has rolled out a robot food delivery offering in Tempe, Arizona. The firm has been increasing its commercial services, with a plan to expand to 100 colleges by late summer of next year, per reports. Ryan Tuohy, who leads Starship Technologies’ business development, said in a statement, “The demand for contactless delivery has expanded exponentially in recent weeks.
Those looking for a loan outside of the government’s Paycheck Protection Program (PPP) won’t find it from JPMorgan Chase , which has decided to focus solely on that program due to a huge amount of requests over the past few days, according to the Financial Times. The bank, which is the largest in the U.S., said it has seen over 375,000 requests from small- to medium-sized businesses (SMBs) since the $350 billion loan plan from the federal government was officially launched.
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
Americans could start receiving COVID-19 stimulus money from the federal government as early as Thursday (April 9) or Friday, according to reports. The first round of emergency assistance is expected to reach people who have previously provided direct deposit information to the Internal Revenue Service (IRS). That first group of payment recipients is estimated to be about 50 million to 60 million people.
JPMorgan Chase has dimmed its view of the future yet again, now saying the nation’s gross domestic product (GDP) could sink by as much as 40 percent in the second quarter due to the coronavirus pandemic, according to CNBC. That’s an increase from the already-dire 25 percent drop JPMorgan previously predicted. Unemployment, the bank said, could hit 20 percent, with a loss of 25 million jobs.
Banks are continually working to provide their business customers with more streamlined, impactful services. They previously only interacted with clients in physical branches — accepting deposits and extending loans, for example — but such interactions offered little ability to facilitate customers’ primary business activities. Payment and data application programming interfaces ( API s) are changing that, however.
Over one third of Americans didn’t pay rent by April 5, triggering fears of what could be ahead for May and beyond, according to data from a landlord advocacy group. The National Multifamily Housing Council ( NMHC ) analyzed data on Wednesday (April 8) from 13.4 million units nationwide and found that although 69 percent paid April’s rent on time, that is down from 81 percent in March, according to the group.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Small businesses overwhelmed U.S. financial institutions as they scrambled to apply for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. When the program went live on Friday (April 3), only two FIs, Bank of America and JPMorgan Chase, had been able to begin accepting applications — Bank of America saw a whopping $6 billion worth of applications in only a few hours, ending Friday with $32.6 billion in applications.
In an effort to provide independent truck drivers and small fleets with discounts and access to a service network, The Goodyear Tire & Rubber Company will now provide carriers that belong to Convoy’s Digital Freight Network with access to its Commercial Total Solution. This is the first time that Goodyear has offered an online discount offering via its commercial eCommerce platform at GoodyearTruckTires.com , per an announcement.
If you’ve filed for unemployment benefits and haven’t received a check yet, you’re not alone. Nearly 17 million Americans have applied for unemployment assistance in the last three weeks as the nation’s economy came to a virtual halt amid the coronavirus pandemic, and states were overwhelmed by applications, Reuters reported Friday (April 10). There was good news for unemployed workers in the $2.3 trillion stimulus bill the president signed late last month.
A federal measure to provide additional relief for small and medium-sized businesses (SMBs) hurt by the coronavirus pandemic will have to wait. In a duel that ended the prospects for passage of more government aid this week, Democrats and Republicans staked out their positions and recessed until Monday, CNBC reported Thursday (April 9). The fight began when Sen.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
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