Please ensure Javascript is enabled for purposes of website accessibility
November 28, 2022

Accounting News Roundup: Crisis Averted…er…Delayed; Deal Includes One Tax Tweak; KPMG (Italy) to BlackBerry’s Rescue | 10.17.13

Republicans Back Down, Ending Crisis Over Shutdown and Debt Limit [NYT]
Congressional Republicans conceded defeat on Wednesday in their bitter budget fight with President Obama over the new health care law as the House and Senate approved last-minute legislation ending a disruptive 16-day government shutdown and extending federal borrowing power to avert a financial default with potentially worldwide economic repercussions. With the Treasury Department warning that it could run out of money to pay national obligations within a day, the Senate voted overwhelmingly on Wednesday evening, 81 to 18, to approve a proposal hammered out by the chamber’s Republican and Democratic leaders after the House on Tuesday was unable to move forward with any resolution. The House followed suit a few hours later, voting 285 to 144 to approve the Senate plan, which would fund the government through Jan. 15 and raise the debt limit through Feb. 7. Mr. Obama signed the bill about 12:30 a.m. Thursday.

House Stenographer Seizes Microphone In Bizarre Rant [NPR]
You'd snap too if you had to listen to every word spoken on the House floor.

Your Official Compilation of This Glorious Shutdown's Best Moments [Atlantic]
Including the little kid staring through the closed National Zoo gates. Squee!

Government shutdown, debt ceiling deal includes one tax provision [JofA]
The change to the health care law under the agreement reached Wednesday sets up a new requirement that the eligibility of people who receive cost-sharing reductions under Section 1402 of the Patient Protection and Affordable Care Act, P.L. 111-148, or the health insurance premium tax credit under Sec. 36B, be verified. Under the agreement, the secretary of Health and Human Services must ensure that health insurance exchanges verify that individuals applying for the credit or cost-sharing reductions are eligible and must certify to Congress that the exchanges are verifying eligibility. The secretary is required to report to Congress by Jan. 1, 2014, what procedures exchanges are using to verify eligibility.

BlackBerry shows flicker of life: KPMG buys 3,500 smartphones [CNET]
BlackBerry said that KPMG's Italian operations have ordered 3,500 BlackBerry 10 devices and have committed to using BlackBerry Enterprise Service 10 to manage its mobile devices. 

Deloitte taps Shiry as Pittsburgh leader [PBT]
Dmitry Shiry replaces Bob Denove.

International tax expert joins KPMG [The Hill]
Michael Plowgian is joining the HoK from the Organization for Economic Co-operation and Development.

Nashua gas station clerk halts robbery with handgun, gets fired hours later; police still looking for suspect [NT]
This happened in New Hampshire? "When Shannon “Bear” Cothran was threatened by a knife-wielding robber on Monday morning, he didn’t think twice about what to do. Cothran, who was working after midnight at the Shell gas station at 301 Main St. in Nashua, pulled out his Ruger LCP .380 handgun. The robber turned and walked out the door, and Cothran called the police, bringing a swift end to the robbery attempt. Cothran believes his decision to carry a firearm might have saved his life Monday morning. But the owners of the gas station took a different view. Cothran says he was fired only a few hours later for violating a company policy that forbids store clerks from carrying guns."

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.

Comments are closed.

Related articles

a dog wearing VR

Monday Morning Accounting News Brief: Deloitte on Microtransactions; More EY Split Roadblocks; Have You Become Irritable? | 11.28.22

Happy Monday! Here’s some stuff that’s going on. Several US audit firms told the Financial Times that they had elevated some or all of their crypto-related clients to the status of “high risk”, triggering a more thorough audit that will take longer and lead to higher bills; some clients could ultimately be dropped altogether. KPMG […]

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 […]