Unstructured Finance

Calendar

March 15, 2013

Some important tax and accounting dates in the week ahead:

 Sunday, March 17 – Wednesday, March 20

Tax Executives Institute mid-year conference features speakers including E. Ray Beeman, tax counsel and special adviser for tax reform to the U.S. House of Representatives Committee on Ways and Means, former U.S. Senator Olympia Snowe, and tax experts from the Organisation for Economic Co-operation and Development and the Internal Revenue Service. Washington.

Essential reading: Congress begins tax reform talks, and more

March 15, 2013

Welcome to the top tax and accounting headlines from Reuters and other sources.

* Congress begins meetings on tax reform. Zachery Goldfarb and Lori Montgomery – The Washington Post. Members of the Senate Finance Committee from both parties met for the first time Thursday to start laying the groundwork for legislation to overhaul the tax code, as the House Ways and Means Committee engages in a similar bipartisan effort. Link

Essential reading: Senate Democrats propose new taxes, and more

March 13, 2013

Welcome to the top tax and accounting headlines from Reuters and other sources.

* Democrats’ budget mixes tax increases, spending cuts. Kristina Peterson – The Wall Street Journal. Senate Democrats will propose on Wednesday raising $975 billion in new taxes over the next decade in the budget they will release this week, setting up a sharp contrast with a House Republican plan to balance the budget over 10 years without new tax increases. Link 

Essential reading: Yankees embrace frugality to dodge tax, and more

March 12, 2013

New York Yankees then manager Joe Torre (L) puts a Yankees cap on Alex Rodriguez, one of the  highest paid players in baseball. February 17, 2004 REUTERS/Peter Morgan

Hedge funds stockpiled Citi, axed Apple in Q4

March 12, 2013

More research was published today showing that the honeymoon is over for American hedge fund managers and technology giant Apple. The iPhone maker was one of the top two most sold stocks by hedge funds in the fourth quarter, according to an analysis of regulatory filings by Bank of America. (The other stock was  Tyco International).

Essential reading: Companies’ profits abroad save on taxes, and more

March 11, 2013

Welcome to the top tax and accounting headlines from Reuters and other sources.

* More U.S. profits parked abroad, saving on taxes. Scott Thurm and Kate Linebaugh – The Wall Street Journal. A Wall Street Journal analysis of 60 big U.S. companies found that, together, they parked a total of $166 billion offshore last year. That shielded more than 40 percent of their annual profits from U.S. taxes. Link

Calendar

March 8, 2013

People relax in one of the Blue Lagoon hot springs near the town of Grindavik, Iceland. February 14, 2013. REUTERS/Stoyan Nenov

Essential reading: Tax haven hunter Levin to retire, and more

March 8, 2013

Welcome to the top tax and accounting headlines from Reuters and other sources.

* Michigan Sen. Carl Levin will not seek reelection. Rachel Weiner and Aaron Blake – The Washington Post. As chairman of the Senate Permanent Subcommittee on Investigations, Carl Levin has investigated Enron, the credit card industry, the 2008 financial crisis, and offshore tax havens. Link

The amazing shrinking pile of non-agency mortgage debt

March 8, 2013

By Matthew Goldstein

Many cash-strapped, unemployed or underemployed people are still struggling with too much consumer and household debt. But there is one kind of debt that is getting smaller and smaller–mortgage bonds issued during the U.S. housing bubble by Wall Street banks and finance firms that isn’t guaranteed by either Fannie Mae of Freddie Mac.

State defections impact U.S. interstate tax compact

March 7, 2013

Worried about challenges to their corporate tax base, some U.S. states have started to modify their participation in the Multistate Tax Compact, with a few withdrawing altogether.