Bill.com, maker of the popular AP and AR app, has released a new product for wealth management and accounting firms supporting high-net-worth clients. The offering for wealth management firms adds two features to BIll.com’s standard automated platform: automated bill payments, and multiple flexible and rapid payment options. Bill.com auto-enters invoice details for review, and bills
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Even before the pandemic hit, states were looking for ways to increase their revenue. Of course, as a result of the pandemic and the accompanying shut downs it engendered, many states are facing unprecedented shortfalls in revenue. States have sought to remedy this by raising taxes, broadening their tax base, and going after remote sellers
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Relativity Space’s third generation 3D-printer in its new headquarters, with CEO Tim Ellis standing by for scale. Relativity Rocket builder and 3D-printing specialist Relativity Space is raising $500 million of fresh capital in a new round being led by Tiger Global Management, people familiar with the financing told CNBC on Tuesday. The new fundraise, expected
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The Governmental Accounting Standards Board has released an exposure draft of proposed implementation guidance on a number of topics, including leases and fiduciary activities. The Implementation Guidance Update, which takes the form of questions and answers, also proposes amendments to some previously issued implementation guidance. When GASB propose new or updated guidance, it’s based on:
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The Organisation for Co-operation and Economic Development (OECD) has compiled tax revenue data for countries around the world—including 30 African countries, where tax revenue as a percent of GDP is on average lower than in other regions. On average, this tax-to-GDP ratio for those 30 countries was 16.5 percent, compared to the OECD average of 34.3 percent and
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The Internal Revenue Service’s Criminal Investigation unit has been initiating fewer investigations of abusive tax return preparers this past year, while also recommending fewer prosecutions, and seeing fewer indictments and prison sentences this year, according to a new report. However, the IRS CI division managed to identify $2.3 billion in other types of tax fraud
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A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York. Shannon Stapleton | Reuters Pharmacy stocks fell sharply on Tuesday after Amazon launched its new Pharmacy offering, which includes online ordering and delivery for prescription drugs. Dow Jones Industrial average member Walgreens Boots Alliance dropped more than 11% in
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Spencer Platt | Getty Images The safety net meant to protect unemployed workers from financial devastation is defective, and the coronavirus pandemic has starkly exposed its many shortcomings, economists argue in a new paper published by the Massachusetts Institute of Technology. The pandemic, which triggered the deepest economic downturn since the Great Depression in the
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Gregg Lemkau, co-head of investment banking for Goldman Sachs & Co. Christopher Goodney | Bloomberg | Getty Images Goldman Sachs is losing one of its top dealmakers. Gregg Lemkau, a nearly-three decade veteran of the bank and co-head of its powerhouse investment banking division, is leaving Goldman at the end of the year, according to
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Clairmont, Paciello and Co. PC, a midsized accounting and financial services firm in King of Prussia, Pennsylvania, has acquired the tax and accounting practice of Dreslin and Co. Inc., of East Norriton, Pennsylvania, effective Nov. 1, 2020. Clairmont, Paciello has five partners, 13 full-time associates and six part-time associates. Dreslin is adding one partner and
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An exterior view of the U.S. Securities and Exchange Commission (SEC) headquarters in Washington. Jonathan Ernst | Reuters What would a Democrat-controlled Securities and Exchange Commission look like? It’s early, but speculation is already raging on Wall Street.  Who will be the next SEC Commissioner?  Former CFTC chair Gary Gensler, who aggressively implemented Dodd Frank
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