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December 4, 2022

Accounting News Roundup: The Art of Uncertain Tax Positions; IRS Is Broke; Too Late to Save Enron? | 12.18.14

It’s Probably Too Late Now, But I Think I Could Have Saved Enron [Clickhole]
This young man has a brilliant idea to save Enron: "It probably means nothing now, 13 years later, but if I were in charge, I would keep Enron’s books clean and maintain good relationships with investors and customers alike. If it isn’t too late, which again, I’m thinking it is, I really do think it’s possible to save Enron."

Art of Accounting: Pricing by the Hour [Accounting Today]
Or, alternatively, how Ed Mendlowitz told his lawn care company to go to hell.

Pittsburgh police payroll accountant waives preliminary hearing [Pittsburgh Post-Gazette]
Authorities allege that she should have been purchasing riot shields, but she stole the money instead.

IRS chief: Budget cuts to freeze hiring, cut enforcement [POLITICO]
Guess that means they won't be at Meet the Firms: "IRS Commissioner John Koskinen on Wednesday told employees that the $346 million cut to the agency budget is bound to reduce tax collections from potential tax cheats by at least $2 billion and hurt taxpayer services. “Our hiring — already limited at a ratio of one hire for every five people who leave — will be frozen with only a few mission-critical exceptions,” he wrote in an email to employees. “We will stop overtime except in critical situations.”

How Google, GE and U.S. Firms Play the Tax ‘Audit Lottery’ [WSJ]
Rather, "uncertain tax positions"

Yellen: I would 'forcefully' oppose Audit the Fed efforts [The Hill]
She thinks it's a threat to Fed independence.

The Head Of PwC Australia Says Flexibility Is Critical For Young People Because ‘Whole Careers Are Vanishing Overnight’ [Business Insider]
He wrote up his thoughts on LinkedIn.

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