In 2012, under a little discussed mandate of the health care reform legislation, businesses will be required to report all payments in excess of $600 for services or merchandise to the Internal Revenue Service on a Form 1099.
Former Lehman CEO Richard Fuld, in his appearance before the U.S. House Financial Services Committee last week, blamed rumors, timing, regulators, and a “crisis of confidence" for the fall of the investment firm.
The recession has had a huge impact on state and local business tax collections, according to a recent study. This decline has legislators scrambling to fill huge budget gaps by raising taxes and reducing government spending.
The Financial Accounting Standards Board will evaluate the need for accounting rule changes relating to repurchase transactions following the Securities and Exchange Commission’s review of how financial institutions other than Lehman Brothers use these transactions.
Pamela Anderson shares something in common with a few of her fellow celebrity contestants on Dancing with the Stars. At least three others also have made headlines for being in hot water with the tax authorities.
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.