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September 26, 2023

Accounting News Roundup: Jobs Disappointment; Romney Tax Return Caper Is “Possible”; Dems Tax Plan Is Too GOP | 09.07.12

Economy Adds Fewer Jobs Than Expected [WSJ]
U.S. job growth slowed in August, a sign of a slack recovery that could mute any postconvention momentum for President Barack Obama and spur the Federal Reserve to take further steps in an effort to stimulate the economy. U.S. payrolls increased by a seasonally adjusted 96,000 jobs last month, the Labor Department said Friday. The politically important unemployment rate, obtained by a separate survey of U.S. households, fell to 8.1% from 8.3%. Economists surveyed by Dow Jones Newswires expected a gain of 125,000 in payrolls and an 8.3% jobless rate. Republicans and Democrats will seize on Friday's numbers—the economy has added jobs every month since September 2010, though the pace has been uneven and the recovery remains tepid. Job growth has averaged 139,000 a month so far this year, compared with 153,000 in 2011.

Claim of Romney taxes theft a puzzling whodunit [AP]
"So far, there's just zero proof. It's like every bad Hollywood plot, which makes me think this is fishy," said Marc Maiffret, chief technology officer for BeyondTrust Software Inc. of Carlsbad, Calif. "But any competent hacker, any good penetration-tester, if they wanted to get Mitt Romney's tax returns, it wouldn't be that hard to do. These breaches are absolutely possible. If you can sit at the computer it would take two minutes to bypass the log-in information."

CTJ: Democrats' Tax Plan Is Too Republican [TaxProf]

Defunct Law Firm Keeps Its Troubles Off the Softball Field [NYT]
Silver lining!

If At First You Don’t Succeed, Just Waste The Tax Court’s Time Some More [DT]
Buncha amateurs.

Police: Man breaks into hoagie shop, makes sandwich; steals deli meat, money [STT]
Leonard Taylor sat next to a bag of cold deli meat loaves on the stoop of a torn-down home on Main Street in Dickson City early Thursday and counted his money. The two borough police officers who stopped when they saw the 55-year-old man stumbling down the 900 block of Main Street at 2:20 a.m. wondered what he was doing sitting on the stoop of a torn-down home. He had had four beers at Mug Shots, Mr. Taylor explained, and when he walked out of the bar a couple stopped him to ask for a cigarette, according to a criminal complaint. […] [Officers] decided to walk to nearby Mainline Hoagie to check the place. Its door open, the officers walked in to the hoagie shop to find what appeared to be evidence of a late-night snack turned burglary. A sandwich sat left behind on a counter, not far from a loaf of meat and an opened bag of pepperoni on the floor. Then the officers spotted damage to the shop's ceiling beneath the deli's hood vent, and that the door to a neighboring nail salon had been pried open and the salon's drawers had been ransacked, according to the complaint. After calling to have Mr. Taylor brought to the police station, the officers took another look through the deli and found where that bill from National Bakery had come from. The bill was for the hoagie shop, according to the complaint, and had been in a container with the money to pay it – which Mr. Taylor took after breaking into the shop and making himself a sandwich, according to the complaint.

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