Unstructured Finance

Essential reading: Republican governors open new front in tax debate, and more

January 25, 2013

Governor Sam Brownback has cut taxes in Kansas. REUTERS/Mike Segar.

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

 * Republican governors open new front in tax debate. Richard Stevenson – The New York Times. Overhauling the tax system is the subject of endless talk and little action in Washington. But Republican governors in a range of states are setting up limited but politically ambitious and potentially telling experiments in what might be possible nationwide. Link

Essential reading: Firms keep stockpiles of ‘foreign’ cash in U.S., and more

January 23, 2013

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

* Firms keep stockpiles of ‘foreign’ cash in U.S. Kate Linebaugh – The Wall Street Journal. For people on both sides of the contentious debate over corporate-tax reform, the situation highlights what they see as the absurdity of rules that encourage companies to engage in semantic games, legal gymnastics and inefficient corporate-financing methods to shield profits from U.S. taxes. Link

Essential reading: Private equity tax breaks in jeopardy, and more

January 22, 2013

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

 * Private equity seeks a new path. Jane Sasseen – The New York Times. As Washington grapples with the country’s fiscal woes, the private equity industry is grudgingly facing a new reality: its long-held tax advantages are likely to disappear. Link  

from MacroScope:

SEC has power to ban high-frequency trading, congressman says

January 18, 2013

Not everyone agrees that using high-speed machines to trade stocks in less time than it takes the average person to blink is a bad thing, but the people who do might be heartened by the letter a congressman sent the U.S. Securities and Exchange Commission on Friday.

Calendar

January 18, 2013

Some important tax and accounting events in the week to come:

Monday, Jan. 21 – Wednesday, Jan. 23

* American Institute of Certified Public Accountants personal financial planning conference. Las Vegas.

Essential reading: Greek tax probe launched, and more

January 18, 2013

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

* Greek parliament to probe tax list claims. Kerin Hope – The Financial Times. The Greek parliament voted on Thursday to probe allegations that former finance minister George Papaconstantinou failed to pursue possible tax evaders on a list of 2,000 Greeks with Swiss bank accounts provided by French authorities in 2010. Link

Essential reading: Facebook’s slump hits California’s budget, and more

January 17, 2013

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

* California budget hurt by Facebook’s stock-price slump. Vauhini Vara – The Wall Street Journal. Facebook Inc.’s disappointing IPO has claimed another victim: California’s budget. Aides to Democratic Gov. Jerry Brown last week lowered their estimate of how much revenue the state will get from Facebook’s initial public offering by nearly one-third, to $1.3 billion in the three years ending in June 2014, down from $1.9 billion. Link  

Essential reading: New Yorkers face higher real estate taxes, and more

January 16, 2013

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

* Tax bite to climb from boom years. Josh Barnanel – The Wall Street Journal. While property values are slowly rising in New York, a quirk in the tax law will drive up property taxes by considerably more, including higher taxes on 69 homes damaged in superstorm Sandy, according to new city data. Link 

Essential reading: Retail sales to hold clues to taxing times, and more

January 15, 2013

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

 * Retail sales to hold clues to taxing times. Spencer Jakab – The Wall Street Journal. Back during the housing boom, local tax officials were at a loss to explain why sales-tax revenue was outstripping income-tax withholding. We know how that ended, as people ran out of equity to extract from their homes to spend on flat-screen TVs and the like. Link  

Calendar

January 14, 2013

Some important tax and accounting events this week:

Monday, Jan. 14 – Friday, Jan. 18

* University of Miami School of Law Heckerling Institute on Estate Planning. Orlando, Florida.