Category: reporting
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Union Pacific delivers 7% more profit as investors get good view of industry with CSX also reporting
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OMAHA, Neb. (AP) — Union Pacific reported a 7% increase in fourth-quarter profit as it managed to deliver more freight with fewer employees and continued to make the railroad more efficient. The Omaha, Nebraska-based railroad company reported earnings of $1.76 billion on Thursday, or $2.91 per share, easily beating Wall…
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New tax checks on side hustles like eBay and Vinted risk confusion over different reporting periods
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HM Revenue & Customs is stepping up its scrutiny of “side hustle” earnings, requiring online platforms such as eBay, Vinted and Airbnb to provide information on users’ 2024 income by the end of this month. However, concerns have been raised that the discrepancy between the UK tax year (April to…
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New IRS Rules Mandate Reporting For DeFi Brokers: What This Means For Crypto Transactions
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In an important development for the cryptocurrency landscape, the US Internal Revenue Service (IRS) has finalized regulations Which will require Decentralized finance (DeFi) brokers report gross proceeds from digital asset transactions. The IRS classifies DeFi platforms as intermediaries under New regulationswhich will go into effect in 2027, DeFi platforms that…
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Tether Defends Its Record, Blasts WSJ For ‘Irresponsible Reporting’
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In a recent Wall Street Journal (WSJ) report, it was claimed that Tether is currently under federal investigation for potential violations of sanctions and anti-money laundering (AML) regulations in the United States. investigation, It is said Led by prosecutors from the US Attorney’s Office in Manhattan, it is said to…
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Banks start compliance with foreign customers reporting requirement
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Local banks are expected to fully comply this month with the requirement to share details of foreign accounts with the Kenya Revenue Authority (KRA), in order to transfer them to the relevant jurisdictions after the deadline of August 31, 2024. Commercial banks began identifying foreign clients holding accounts in Kenya…
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How sustainability reporting can bridge the trust deficit in society
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In recent months, many countries have experienced social unrest and various forms of civil unrest. These events can be attributed to several factors, including a lack of trust within society. Organizations in both the public and private sectors are dealing with record low levels of trust, which remains a factor…
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Why Is Nvidia Stock Down After Reporting Parabolic Growth?
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Expectations were high before Nvidia‘s (NASDAQ: NVDA) Financial Report for the Second Quarter of FY25. The company has become a de facto standard bearer. artificial intelligence Artificial intelligence is a true revolution. Graphics processing units (GPUS) provide the computational power needed to create the large language models (LLMs) that make…
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New Zealand Adopts OECD Crypto Reporting Framework
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In a significant development for New Zealand’s cryptocurrency landscape, the country’s Revenue Minister Simon Watts has introduced a new tax bill that seeks to implement the Crypto Asset Reporting Framework (CARF) developed by the Organisation for Economic Co-operation and Development (OECD). The move aims to enhance tax compliance and transparency…
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IRS lightens crypto reporting requirements for tax filings
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The Internal Revenue Service has simplified reporting requirements in the latest version of Form 1099-DA, which cryptocurrency brokers and taxpayers will use to report digital asset transactions. According to August 9 to updateThe new draft removes many requirements that were part of the April version when the IRS first introduced…
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US Treasury finalizes new crypto tax reporting rules By Reuters
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Written by Hannah Lange (Reuters) – The U.S. Treasury Department finalized a rule on Friday that would require cryptocurrency brokers, including exchanges and payment processors, to report new information about user sales and exchanges of digital assets to the Internal Revenue Service. The new requirements are aimed at cracking down…
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Enron whistleblower: Financial fraud reporting still too hard
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Twenty-three years after Enron filed for bankruptcy, not much has changed regarding the culture of whistleblowing and reporting internal fraud. Although 56% of financial professionals reported that they had detected or suspected fraud within their organizations, the majority ( ) remained silent. As we have seen from the recent devastation…
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How Nvidia is dominating an AI-obsessed earnings season without even reporting yet
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Andrecraf/iStock, Michael M. James/Getty, Tyler Low/PI Nvidia is dominating earnings season, and has yet to report results. Other big tech giants have mentioned on earnings calls that they are ramping up investment in AI infrastructure. Nvidia It offers the popular H100 GPU chip used by many companies, and is specifically…
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Yum! Brands slides after reporting rare drop in same-store sales (NYSE:YUM)
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Thirty_Three/iStock Unreleased via Getty Images Yum! Trademarks (New York Stock Exchange: Yum) reported a 3% decline in same-store sales in the first quarter, well below consensus expectations for a 1.0% rise. The decline in same-store sales from Yum! (YUM) was first since 2020. OR Note that the fast food operator’s…