Please ensure Javascript is enabled for purposes of website accessibility

Accounting News Roundup: Gingrich Tells GOP to Give Up Payroll Tax Fight; The Adderall Question; Indifference Discovered in Intermediate Accounting | 12.22.11

Taxes Questioned, Accountant Quits on Heiress’s Estate [AP]
An accountant facing questions about his handling of the fortune of a reclusive copper mining heiress has resigned from administering her estate as a New York City official said the accountant and a lawyer underpaid her taxes by tens of millions of dollars. The accountant, Irving Kamsler, resigned on Tuesday as an executor of the heiress Huguette Clark’s $400 million estate, lawyers for the estate said in a letter. It also noted that the official was about to ask a court to strip Mr. Kamsler and the lawyer, Wallace Bock, from managing the estate.

The GOP's Payroll Tax Fiasco [WSJ]
The GOP leaders have somehow managed the remarkable feat of being blamed for opposing a one-year extension of a tax holiday that they are surely going to pass. This is no easy double play. Republicans have also achieved the small miracle of letting Mr. Obama position himself as an election-year tax cutter, although he's spent most of his Presidency promoting tax increases and he would hit the economy with one of the largest tax increases ever in 2013. This should be impossible.

Gingrich to House GOP: Give In on Payroll Tax [WSJ]
“Incumbent presidents have enormous advantages. And I think what Republicans ought to do is what’s right for America. They ought to do it calmly and pleasantly and happily,” Mr. Gingrich said when asked about the clash between President Barack Obama and House Republicans over extension of the payroll tax cut.
 
Is Using Adderall to Get Through Exams the Worst Thing in the World? [ATL]
Saving drug abuse for your professional careers is a far more responsible approach.
 
Meh, No [The Summa]
Dave Albrecht discovers the common vernacular of indifference from an essay response on an Intermediate Accounting exam.
 
 

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 […]