October 7, 2022

Accounting News Roundup: Boehner Hopes Obama Is ‘Serious’…Except About Tax Hikes; What’s the Definition of ‘Rich’?; No More Tax Lady | 05.16.11

Police Seek Evidence From I.M.F. Chief on Sex Attack [NYT]
Dominique Strauss-Kahn, the leader of the International Monetary Fund, spent most of Sunday at the Manhattan Special Victims Unit in East Harlem as prosecutors sought additional evidence, including possible DNA evidence on his skin or beneath his fingernails, to bolster allegations that he had sexually assaulted a maid in a $3,000-a-night suite at a Midtown hotel, officials said.

IMF in Wake of Scandal Turns to Lipsky [Bloomberg]
The International Monetary Fund turned to John Lipsky when it was ordered to develop an early- warning system to prevent a repeat of the 2008 financial meltdown. Now, the IMF is calling on him to guide it through its own crisis.

Boehner questions Obama’s commitment to tackling debt, deficit [The Hill]
On dealing with major spending issues, including entitlement programs, Boehner invited the president to “lock arms and we’ll jump out of the boat together. “I’m serious about dealing with this, and I hope he’s just as serious,” he said. As both parties haggle over raising the $14.3 trillion debt limit, Boehner insisted that everything was up for discussion — except tax hikes.

The Very Rich Really Are Different [TaxVox]
“Let me tell you about the very rich. They are different from you and me,” wrote F. Scott Fitzgerald. He wasn’t talking about taxes (the laws were very different back in 1926) but his assertion certainly applies to the way the wealthy fare under today’s tax law.

Gingrich Blasts House GOP’s Medicare Plan [WSJ]
White House hopeful Newt Gingrich called the House Republican plan for Medicare “right-wing social engineering,” injecting a discordant GOP voice into the party’s efforts to reshape both entitlements and the broader budget debate. In the same interview Sunday, on NBC’s “Meet the Press,” Mr. Gingrich backed a requirement that all Americans buy health insurance, complicating a Republican line of attack on President Barack Obama’s health law.

Gingrich businesses owed unpaid state taxes [AP]
They’re all caught up now.

How did $250,000 become the tax definition of rich? [DMWT]
Obama’s economic team was in a competitive game of darts during the campaign.

A Small, Dubious Company Gets A Moment In The Sun For No Discernable Reason [TFI]
Roddy Boyd’s latest focuses on Kingtone Wirelessinfo Solution Holding Ltd. and their hocus-pocus ride to this morning’s opening bell at the Nasdaq.

California Bar Confirms Disciplinary Proceedings Against ‘Tax Lady’ Roni Deutch [TaxProf Blog]
Roni throws in the towel.

E&Y fails to halt Anglo Irish investigation [Accountancy Age]
Ernst & Young in Ireland has failed in a bid to halt an investigation into its work as auditor of Anglo Irish Bank. The High Court in Ireland ruled on Friday that the firm had no grounds for a judicial review of a probe ordered by the country’s Chartered Accountants Regulatory Board (CARB).

Police Seek Evidence From I.M.F. Chief on Sex Attack [NYT]
Dominique Strauss-Kahn, the leader of the International Monetary Fund, spent most of Sunday at the Manhattan Special Victims Unit in East Harlem as prosecutors sought additional evidence, including possible DNA evidence on his skin or beneath his fingernails, to bolster allegations that he had sexually assaulted a maid in a $3,000-a-night suite at a Midtown hotel, officials said.

IMF in Wake of Scandal Turns to Lipsky [Bloomberg]
The International Monetary Fund turned to John Lipsky when it was ordered to develop an early- warning system to prevent a repeat of the 2008 financial meltdown. Now, the IMF is calling on him to guide it through its own crisis.

Boehner questions Obama’s commitment to tackling debt, deficit [The Hill]
On dealing with major spending issues, including entitlement programs, Boehner invited the president to “lock arms and we’ll jump out of the boat together. “I’m serious about dealing with this, and I hope he’s just as serious,” he said. As both parties haggle over raising the $14.3 trillion debt limit, Boehner insisted that everything was up for discussion — except tax hikes.

The Very Rich Really Are Different [TaxVox]
“Let me tell you about the very rich. They are different from you and me,” wrote F. Scott Fitzgerald. He wasn’t talking about taxes (the laws were very different back in 1926) but his assertion certainly applies to the way the wealthy fare under today’s tax law.

Gingrich Blasts House GOP’s Medicare Plan [WSJ]
White House hopeful Newt Gingrich called the House Republican plan for Medicare “right-wing social engineering,” injecting a discordant GOP voice into the party’s efforts to reshape both entitlements and the broader budget debate. In the same interview Sunday, on NBC’s “Meet the Press,” Mr. Gingrich backed a requirement that all Americans buy health insurance, complicating a Republican line of attack on President Barack Obama’s health law.

Gingrich businesses owed unpaid state taxes [AP]
They’re all caught up now.

How did $250,000 become the tax definition of rich? [DMWT]
Obama’s economic team was in a competitive game of darts during the campaign.

A Small, Dubious Company Gets A Moment In The Sun For No Discernable Reason [TFI]
Roddy Boyd’s latest focuses on Kingtone Wirelessinfo Solution Holding Ltd. and their hocus-pocus ride to this morning’s opening bell at the Nasdaq.

California Bar Confirms Disciplinary Proceedings Against ‘Tax Lady’ Roni Deutch [TaxProf Blog]
Roni throws in the towel.

E&Y fails to halt Anglo Irish investigation [Accountancy Age]
Ernst & Young in Ireland has failed in a bid to halt an investigation into its work as auditor of Anglo Irish Bank. The High Court in Ireland ruled on Friday that the firm had no grounds for a judicial review of a probe ordered by the country’s Chartered Accountants Regulatory Board (CARB).

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

woman working on a laptop with a dog beside her

Monday Morning Accounting News Brief: The Leadership Void; KPMG Gets Fined (Again); PwC Ups Leave | 10.3.22

Deloitte launches Global Sustainability & Climate learning program that aims to enhance skills and capabilities of Deloitte people to help address a global societal challenge. Dubai’s financial regulator has provisionally fined KPMG and one of its former partners $2 million over the firm’s auditing of Abraaj, the emerging markets private equity group that collapsed in […]

a woman enjoying a coffee while she reads accounting news with her dog

Monday Morning Accounting News Brief: KPMG Drama; MBA Beats CPA?; ISO: Managers and Senior Managers | 9.26.22

Why is the Ontario Securities Commission examining Canadian audit firm ethics? Spurred by some critical comments, EY UK chair and managing partner Hywel Ball shares his opinion on the EY split: “Audit quality is going to be better.” KPMG and Deloitte alumni are doing some startup automation stuff. KPMG UAE is still working out some […]