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October 1, 2023

Accounting News Roundup: GOP Not Budging on Tax Increase Stance; Solo CPAs Hold On; Tax Court Says No-no to Romo | 02.21.13

G.O.P. Is Resisting Obama Pressure on Tax Increase [NYT]
House Republicans, shrugging off rising pressure from President Obama, are resolutely opposing new tax increases to head off $85 billion in across-the-board spending reductions, all but ensuring the cuts will go into force March 1 and probably remain in place for months, if not longer. Despite new calls from the White House on Wednesday to enact a combination of tax increases and cuts to postpone the so-called sequester, the House is moving forward on a legislative agenda that assumes deep and arbitrary cuts to defense and domestic programs — once considered unthinkable — will remain in place through the end of the year.

Firms Puzzle Over Tax Riddle [WSJ]
To flow through or to not flow through, that is the question.

Pension funds urge JPMorgan Chase to oust Dimon as chairman [CNN]
"Give up the chairman role Jamie Dimon." That's what a coalition of investors in four major pension funds told JPMorgan Chase's (JPM) board Wednesday. Dimon has served as the bank's CEO and chairman since late 2006. The coalition, which includes the Connecticut Retirement Plans and Trust Funds as well as the New York City Pension Funds, called on the bank to name an independent board chairman. Shareholders will vote on this plan at the company's annual meeting in May. The bank had no comment about the proposal.

Why Solo CPAs Won’t Sell [CPAT]
Their first-born? Maybe. Their firm? Fat chance.

Leaving the IRS: A True Tax Pro [TA/Christopher Bergin]
It's not just a bunch of faceless agents who aren't using their BlackBerrys, you know.

Former NFLer Bill Romanowski Sacked By Tax Court (I Realize Romanowski Played Defense. Puns Are Hard) [Forbes]
If Jim Otto was the one in court, it would have been a snap.

Tax competition: Why the San Diego Chargers should move to San Antonio [TDC]
Texas Governor Rick Perry says it's because all those Chargers employees will receive a hike in take-home pay.
Altercation reported at bingo game [SCO]

According to the public police log, Portsmouth officers responded to the community room at the senior living apartment building on Court Street at 2:06 p.m. after taking a report of "some pushing and shoving" due to a disagreement over the sale of Avon products. Sgt. Kuffer Kaltenborn said the call came during a regularly scheduled bingo game for the seniors living at the facility. He said one woman was upset at another for setting up a table to sell her cosmetics during the game. "The altercation appears to have been started over the fact that one resident was upsetting another by (selling Avon and disrupting) the scheduled bingo event that occurs," he said. The police log indicates officers cleared the scene of the initial call, only to be called back two hours later by a person who "is insisting on pressing charges now."


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