Accounting News Roundup: IRS Audits of Wealthy Nearly Double; Why the New 1099 Rules Are NBD; E&Y Fired by China Agritech | 03.15.11
Futures Tumble After Nikkei Plunges [WSJ]
In Japan, the Nikkei Stock Average plunged 11%, sparking broad declines in Asian and European markets. Germany’s DAX 30 index was particularly hard hit, down 4.2%in intraday trading. Against this backdrop, futures for the Dow Jones Industrial Average were down 232 points to 11694 about 90 minutes before the opening bell. They had fallen as low as 11611.
IRS Boosted Auditing of Richest Taxpayers, Almost Doubling Rate Last Year [Bloomberg