Latest news with #DirectPay
Scoop
15-06-2025
- Business
- Scoop
Introducing Direct Pay – The Future Of In-person Payments Has Arrived In New Zealand
A new era of payments is here. Worldline NZ has officially launched Direct Pay, a revolutionary in-person account to account payment method built on open banking technology. It is the leading in-person payment solution in New Zealand to leverage open banking APIs from all four major NZ banks and is now available for merchants to use. This innovative solution paves the way for a bold new future in how Kiwis pay and get paid. Built on the success of Worldline's Tap on Mobile platform, Direct Pay empowers small businesses and individual merchants to accept payments directly from customers' bank accounts—no cards, no terminals, no hassle. Just a quick QR code scan and approval in the customer's banking app. It's fast. It's secure. It's seamless. 'This is a break-through for merchants and consumers alike,' says Maxine Elliott, CEO of Worldline NZ. 'Direct Pay is not just a new way to pay—it's a smarter, more cost-effective, and future-ready solution that puts control back in the hands of businesses and their customers.' With instant account-to-account payments powered by open banking APIs connected to all four major New Zealand banks, Direct Pay slashes surcharges, eliminates chargebacks, and ensures overnight settlement. It's a win-win for merchants and customers. Worldline has long been a pioneer in open banking, having introduced Online EFTPOS to New Zealand in 2016. Now, with Direct Pay, they're once again leading the charge—this time bringing open banking to the physical point of sale. 'We're building a more connected, productive economy—one payment at a time,' says Elliott. 'Direct Pay is the future, and it's here now.' About Worldline in New Zealand We are New Zealand's leading payments innovator. We design, build and deliver payment solutions that help Kiwi business succeed. Whether you're looking for in store, online or mobile payment solutions or powerful business insights, Worldline is here to help with technology backed by experience. About WorldLine Worldline [Euronext: WLN] helps businesses of all shapes and sizes to accelerate their growth journey – quickly, simply, and securely. With advanced payments technology, local expertise and solutions customised for hundreds of markets and industries, Worldline powers the growth of over one million businesses around the world. Worldline generated a 4.6 billion euros revenue in 2024. Worldline's corporate purpose ('raison d'être') is to design and operate leading digital payment and transactional solutions that enable sustainable economic growth and reinforce trust and security in our societies. Worldline makes them environmentally friendly, widely accessible, and supports social transformation.
Miami Herald
23-05-2025
- Business
- Miami Herald
IRS Issues Tax Deadline Reminder To Millions
The Internal Revenue Service (IRS) has issued a reminder to millions of U.S. taxpayers living and working abroad to file their 2024 federal income tax returns and pay any taxes due by June 16. The extension applies to U.S. citizens and resident aliens outside the country, including dual citizens, offering them a two-month grace period after the regular April 15 deadline. All U.S. taxpayers, regardless of where they live, must report worldwide income to the IRS. That includes wages, interest, dividends and income from foreign sources. Accurate and timely filing is required to avoid interest, penalties, and the risk of missing out on available tax credits such as the foreign earned income exclusion. U.S. citizens or resident aliens whose residence and main place of business or post of duty is outside the U.S. and Puerto Rico, as well as members of the military on duty abroad, qualify for the automatic two-month extension-shifting their filing deadline from April 15 to June 16, 2025. Taxpayers unable to file by June 16 can request an additional extension to October 15, 2025. This extension is limited to filing-not to payment. Interest will accrue on any unpaid taxes starting from April 15, 2025. Electronic extension requests can be submitted through IRS systems, and Form 4868 is available for those unable to file online. Businesses should use Form 7004 for extensions, and can get a six-month extension. The fastest payment options include IRS Online Account, IRS Direct Pay, and the Electronic Federal Tax Payment System (EFTPS). U.S. taxpayers without a domestic bank account can transfer payments directly to the IRS. Debit and credit cards, as well as digital wallets, are also accepted and may include service fees. Individuals affected by the ongoing conflict in Israel, or with residences or businesses in Israel, Gaza, or the West Bank, have their federal filing and payment deadline extended to September 30, 2025. Military personnel on duty in combat zones may also qualify for automatic extensions. Taxpayers with foreign financial accounts holding more than $10,000 at any point during 2024 must submit Form 114 (FBAR) electronically to the Treasury Department's Financial Crimes Enforcement Network. The initial deadline was April 15, 2025, with an automatic extension to October 15, 2025, for those who missed the first date. Jay A. Soled,professor and chair of the Department of Accounting and Information Systems at Rutgers Business School, New Jersey,previously told Newsweek: "Even with the tax-filing extension, interest will apply to any 2024 tax payments received after April 15. This means that unpaid tax-year 2024 tax balances will begin accruing interest, currently at the rate of seven percent per year, compounded daily, after April 15, 2025." Commenting on why individuals working and living abroad have a two-month filing extension, Soled said it was "undoubtedly a relic of a bygone era when it was difficult for those living overseas to receive third-party information returns." He added that "in light of current technological developments, Congress would be wise to eliminate this exception." Richard D. Pomp, professor of law at the UConn Law School, Connecticut,previously told Newsweek, while discussing why individuals working and living abroad have a two-month filing extension: "The extension is a very old rule that predates the digital economy. Correspondence in those early days took place by mail and the time it took for mail to go back and forth across the ocean could lead to delays that taxpayers living in the country did not experience. In the digital economy, things are far more efficient and the rule is probably unduly generous." He added: "We are currently living through a total state of chaos at the IRS. Whenever possible, taxpayers abroad should file electronically and verify with screen shots and saved files, and copies of all documentation. U.S. taxpayers abroad have until June 16, 2025, to file their returns and pay taxes due for 2024, with eligible individuals able to seek additional extensions or payment arrangements if they are unable to meet this deadline. Taxpayers affected by the Israel-Hamas conflict or stationed in combat zones should review specific guidance and utilize all available IRS resources for support. Related Articles Trump Admin Gets a Win as Judge Allows IRS to Share Tax Data With ICEHunter Biden Drops Lawsuit Against IRS Employees: 'Afraid to Fight'IRS Issues Advice As Natural Disaster Season ApproachesIRS Issues Guidance For Those Facing May 15 Tax Deadline 2025 NEWSWEEK DIGITAL LLC.
Newsweek
23-05-2025
- Business
- Newsweek
IRS Issues Tax Deadline Reminder To Millions
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Internal Revenue Service (IRS) has issued a reminder to millions of U.S. taxpayers living and working abroad to file their 2024 federal income tax returns and pay any taxes due by June 16. The extension applies to U.S. citizens and resident aliens outside the country, including dual citizens, offering them a two-month grace period after the regular April 15 deadline. Why It Matters All U.S. taxpayers, regardless of where they live, must report worldwide income to the IRS. That includes wages, interest, dividends and income from foreign sources. Accurate and timely filing is required to avoid interest, penalties, and the risk of missing out on available tax credits such as the foreign earned income exclusion. File photo: the Internal Revenue Service Headquarters (IRS) building is seen in Washington. File photo: the Internal Revenue Service Headquarters (IRS) building is seen in Washington. J. David Ake/AP What To Know U.S. citizens or resident aliens whose residence and main place of business or post of duty is outside the U.S. and Puerto Rico, as well as members of the military on duty abroad, qualify for the automatic two-month extension—shifting their filing deadline from April 15 to June 16, 2025. Taxpayers unable to file by June 16 can request an additional extension to October 15, 2025. This extension is limited to filing—not to payment. Interest will accrue on any unpaid taxes starting from April 15, 2025. Electronic extension requests can be submitted through IRS systems, and Form 4868 is available for those unable to file online. Businesses should use Form 7004 for extensions, and can get a six-month extension. The fastest payment options include IRS Online Account, IRS Direct Pay, and the Electronic Federal Tax Payment System (EFTPS). U.S. taxpayers without a domestic bank account can transfer payments directly to the IRS. Debit and credit cards, as well as digital wallets, are also accepted and may include service fees. Individuals affected by the ongoing conflict in Israel, or with residences or businesses in Israel, Gaza, or the West Bank, have their federal filing and payment deadline extended to September 30, 2025. Military personnel on duty in combat zones may also qualify for automatic extensions. Taxpayers with foreign financial accounts holding more than $10,000 at any point during 2024 must submit Form 114 (FBAR) electronically to the Treasury Department's Financial Crimes Enforcement Network. The initial deadline was April 15, 2025, with an automatic extension to October 15, 2025, for those who missed the first date. What People Are Saying Jay A. Soled, professor and chair of the Department of Accounting and Information Systems at Rutgers Business School, New Jersey, previously told Newsweek: "Even with the tax-filing extension, interest will apply to any 2024 tax payments received after April 15. This means that unpaid tax-year 2024 tax balances will begin accruing interest, currently at the rate of seven percent per year, compounded daily, after April 15, 2025." Commenting on why individuals working and living abroad have a two-month filing extension, Soled said it was "undoubtedly a relic of a bygone era when it was difficult for those living overseas to receive third-party information returns." He added that "in light of current technological developments, Congress would be wise to eliminate this exception." Richard D. Pomp, professor of law at the UConn Law School, Connecticut, previously told Newsweek, while discussing why individuals working and living abroad have a two-month filing extension: "The extension is a very old rule that predates the digital economy. Correspondence in those early days took place by mail and the time it took for mail to go back and forth across the ocean could lead to delays that taxpayers living in the country did not experience. In the digital economy, things are far more efficient and the rule is probably unduly generous." He added: "We are currently living through a total state of chaos at the IRS. Whenever possible, taxpayers abroad should file electronically and verify with screen shots and saved files, and copies of all documentation. What Happens Next U.S. taxpayers abroad have until June 16, 2025, to file their returns and pay taxes due for 2024, with eligible individuals able to seek additional extensions or payment arrangements if they are unable to meet this deadline. Taxpayers affected by the Israel-Hamas conflict or stationed in combat zones should review specific guidance and utilize all available IRS resources for support.
Yahoo
17-05-2025
- General
- Yahoo
Our church is proof: Federal incentives for solar work
The old spiritual 'This Little Light of Mine' has meaning for anyone who cares to listen, no matter their faith background. It's a call to action, challenging every hearer to be a light in the world and to persist in well-doing. As it turns out, one way that we can let our light shine is by turning the lights off. Dad jokes notwithstanding, climate change is getting worse, and as it worsens, we have an increasing responsibility to lessen our contribution to the problem. This doesn't mean sitting in the dark. Being responsible doesn't mean being impractical. It means using our common sense to be smarter about our energy use. That can be as simple as turning out the lights when we leave the room, or better yet, installing a light system that shuts off the lights automatically when we're gone. At University Mennonite Church, where I serve as treasurer, we're doing what we can to be more energy efficient. These efforts started years ago with a few modest projects, upgrading our church building to use less energy. These upgrades, which included new insulation and energy-efficient LED lighting, were successful, and this success encouraged us to do more. So, in 2023, we decided to go solar. Cobbling together some church funds, a grant from West Penn Power, additional support from the Mennonite Creation Care Network, and roughly $10,000 through federal incentives, we were able to purchase and install a 27.75 kW solar array atop the church roof. The solar array provides about half of our energy needs. The year before we went solar, we spent roughly $5,600 — almost $500 a month — on power. The year afterward, we spent just $2,500, or barely $200 a month. When we crunched the numbers — a pastime of mine — we found that the system will pay for itself in just eight years. So, in addition to letting us put our values in action, allowing us to cut our energy use and reduce our contribution to climate change, our solar array is also saving the church money. In practical terms, this means more resources will be available to carry out our mission. It's a win in every possible respect. Yet even as more churches are looking to add solar power as we did, Congress is looking to cut the federal investments that make solar energy affordable and accessible. The threat is twofold. Current law provides tax credits that lower the cost of solar panels by 30 percent. These tax credits have been available for years, but recent changes to the law gave nonprofits, including churches and schools, the ability to benefit from these credits. This is called Direct Pay. It lets nonprofits benefit from solar tax credits by giving them direct cash payments. Whatever tax credits they would have received if they were a business, they get exactly that amount in a direct cash payment, leveling the playing field. Our church wasn't able to benefit from Direct Pay; we installed our solar panels before it launched. But thankfully, the private contractor who installed our solar array shared the tax-credit savings with the church. But all these savings will disappear if Congress repeals them. The 30 percent tax credit and the Direct Pay program could be eliminated. The cost of energy would rise for everyone. The responsible choice of switching to clean energy would become less practical and more painful. Everyone from churches to businesses to families would find it harder to be part of the solution to one of the biggest problems of our time. It's understandable that Congress should want to see public resources used more efficiently. More efficiency means greater impact, and that's a laudable goal. But cutting federal investments in clean energy won't make the government more efficient. It won't give taxpayers a better bang for their buck. It will, however, make life more expensive for Americans. James Rosenberger is a 49-year resident of State College and member of University Mennonite Church. He taught statistics at Penn State for 42 years, and served on the State College Borough Council for eight years.
Yahoo
14-05-2025
- Business
- Yahoo
Smith speaks out on energy cuts
May 13—LIMA — Lima Mayor Sharetta Smith touted the city's floating solar panels as examples of the value of Direct Pay tax credits in a press call with Power a Clean Future Ohio and two other Ohio mayors Tuesday. Smith, Athens Mayor Steve Patterson and Solon Mayor Ed Kraus spoke about projects the Inflation Reduction Act provision has made possible in their cities and expressed worry with an expected tax package markup set to go through the House Ways and Means Committee. "The IRA has allowed Lima to pursue floating solar panels on two of our reservoirs," Smith said. "This project would not be feasible without the clean energy tax credits. Powering our water treatment plant through electricity saves us $1 million per year." The draft text from the House Committee on Energy and Commerce calls for cuts to spending on several Inflation Reduction Act programs, including rollbacks to tax credits through the Direct Pay program. In Smith's December 2024 year-end report ( the city said the array of 3,444 panels would have a power output of two megawatts and would generate enough clean energy to power 400 to 500 homes, saving the city nearly $10 million in electricity costs over its lifetime. Smith announced an Ohio BUILDS Grant and a Department of Energy grant to go toward the solar array in June ( Executive director of Power a Clean Future Ohio Joe Flarida said the issue makes projects like the solar array affordable for local governments everywhere. "When we reached out to mayors across Ohio, we were not short on options," he said. "This is a cost-cutting issue that affects local government. They are critical tools in our tax code that help build the economy of the future and there may be no better state across the country that stands to benefit than Ohio." "This project is leveraging $890,000 in Direct Pay tax credits," Smith added. "We would not be able to do this without this program. (Cuts) threaten us being able to be innovative and it's not just about the current project, it's about the feasibility of future projects." Reach Jacob Espinosa at 567-242-0399. Featured Local Savings
