Unstructured Finance

Calendar

January 4, 2013

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

Tuesday, Jan.8

* Panel discussion of the fiscal cliff debate and what is likely to happen on taxes in 2013. 12 noon – 1:30 p.m. ET, Urban Institute. Washington.

Essential reading: Inquiry into tech giants’ tax strategies nears end, and more

January 4, 2013

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

 * Inquiry into tech giants’ tax strategies nears end. Charles Duhigg and David Koieniewski – The New York Times. Congressional investigators are wrapping up an inquiry into the accounting practices of Apple and other technology companies that allocate revenue and intellectual property offshore to lower the taxes they pay in the United States. Link  

Essential reading: Cliff fix hits small business, and more

January 3, 2013

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

* Cliff fix hits small business. Emily Maltby and Angus Loten – The Wall Street Journal. The fiscal-cliff deal didn’t change the corporate tax rate, which is no more than 35 percent. But many small S-Corp businesses will see a tax increase to 39.6 percent. Link

Essential reading: Cliff bill means some pay more taxes, and more

January 2, 2013

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

* Analysis: 77 percent of households to see tax increase. John McKinnon – The Wall Street Journal. The fiscal cliff bill’s impact would be far-reaching for American taxpayers, and particularly painful for very high-income households, according to a new analysis. About 77 percent of American households would see a tax increase compared to their 2012 tax levels, according to the analysis by the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute. Link 

Why Steven Cohen won’t turn SAC into a family office

January 2, 2013

By Matthew Goldstein

Every time the insider trading investigation thrusts Stevie Cohen back into the spotlight, there’s always speculation about whether the billionaire trader will simply give back money to his outside investors and convert his $14 billion SAC Capital into a family office in order to avoid the unwanted headlines. But as tempting as that might be to the publicity-averse Cohen, the well-known trader has a big financial incentivel to keep managing money for his outside investors.

Essential reading: Fiscal cliff talks down to the wire

December 28, 2012

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

* Obama summons congressional leaders for ‘fiscal cliff’ talks. Lori Montgomery and Rosalind Helderman – The Washington Post. President Obama summoned congressional leaders to a Friday summit at the White House in a last-ditch effort to protect taxpayers, unemployed workers and the fragile U.S. recovery from severe austerity measures set to hit in just four days. Also Thursday, House of Representatives Speaker John Boehner announced he would call the House back into session this weekend. And in perhaps the most significant development, Senate Minority Leader Mitch McConnell was engaged directly in talks with the White House. He signaled an interest in cutting a deal. Link 

Calendar

December 28, 2012

Some important tax and accounting dates in the weeks to come:

Sunday, Dec. 30

* U.S. House of Representatives returns to work on legislation to avoid tax increases and spending cuts associated with the fiscal cliff that begin to kick in on Jan. 1.

Accounting for retirement benefits produces “phantom” earnings – report

December 27, 2012

The cost of pensions gets plenty of attention, both from the companies that sponsor them and their investors.  Other retirement benefits, including medical costs, don’t garner the same scrutiny.

Wall Street channels Charles Dickens in 2012

December 27, 2012

By Lauren Tara LaCapra

As 2012 comes to an end, it’s clear that Wall Street has had the best-worst year in quite some time.

Obama hearts El-Erian

December 26, 2012

By Sam Forgione and Matthew Goldstein

OK, so it’s not a big gig like being nominated to head the Treasury Dept. But President Obama’s decision to tap PIMCO’s Mohamed El-Erian to head the President’s Global Development Council is no insignificant matter.