Unstructured Finance

Essential reading: Apple CEO to propose tax overhaul, and more

May 17, 2013

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

* Apple CEO Tim Cook to propose tax overhaul. Cecilia Kang – The Washington Post. Apple chief executive Tim Cook plans to propose a “dramatic simplification” of corporate tax laws when he testifies for the first time before Congress next week, just as lawmakers are considering an overhaul of the tax code. Link    

Essential reading: Tax scandal fells IRS acting chief, and more

May 16, 2013

President Barack Obama announcing that the Internal Revenue Service acting commissioner had been ousted, May 15, 2013. REUTERS/Kevin Lamarque

NJ Governor Chris Christie spotted outside Goldman Sachs

May 15, 2013

New Jersey Governor Chris Christie shakes hands with Lloyd Blankfein lookalike outside Goldman Sachs on Wednesday

Essential reading: Uneven IRS scrutiny, and more

May 14, 2013

Welcome to the top tax and accounting headlines:   

* Uneven IRS scrutiny seen in political spending by big tax-exempt groups. Nicholas Confessore – The New York Times. For the I.R.S.’s bipartisan legion of critics, the agency’s record has underscored its contradictory and seemingly confused response to the fastest-growing corner in the world of unlimited political spending. Link    

Essential reading: IRS targeted groups critical of government, and more

May 13, 2013

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

* Health insurance tax ‘scares the daylights’ out of some small-business owners. J.D. Harrison. Many small-business owners worry that a new tax on insurance providers in the health-care law will mean higher premiums for them, undermining the law’s capacity to lower their health-care costs. Link  

Calendar

May 10, 2013

Some important tax and accounting events in the week ahead.

Monday, May 13 – Thursday, May 16

* Government and private sector attorneys and accountants speak to Practicing Law Institute program, Basics of Accounting for Lawyers. New York.

Essential reading: Falling deficit alters budget debate, and more

May 10, 2013

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

* Falling deficit alters debate. Damian Palleta – The Wall Street Journal. Rising government revenue from tax collections and bailout paybacks are shrinking the federal deficit faster than expected, delaying the point when the government will reach the so-called debt ceiling and altering the budget debate in Washington. Link    

Essential reading: Tax collections from wealthy are saving government, and more

May 9, 2013

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

* Swiss bank tied to indictment ponders U.S. registration -sources. John Letzing – The Wall Street Journal. A Swiss private bank that recently suspended an executive who allegedly helped U.S. taxpayers evade obligations is considering opening a U.S. branch, two people familiar with the matter said Wednesday, a step intended to help it comply with U.S. regulations. Link 

Essential reading: Airline industry’s tax troubles, and more

May 7, 2013

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

* Tax proposals open a debate on airline industry’s troubles. Susan Stellin – The New York Times. A $300 domestic airline ticket now includes about $60 in taxes — or 20 percent of the total fare — which pays for things like air traffic controllers, airport improvements, customs and immigration inspections and checkpoint screening. Link     

Essential reading: Tax rewrite favored by Republicans, and more

May 6, 2013

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

* Tax rewrite in play on Capitol. John McKinnon – The Wall Street Journal. Talk about overhauling the tax code is picking up across Capitol Hill this spring, with lawmakers of both parties agreeing on the need to simplify the system but remaining far apart on the details of how to do it. Link