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December 9, 2022

Accounting News Roundup: Lew Wants Inversion Party Stopped; FDIC Claims Against PwC Over Colonial Bank; Unplugging on Vacation | 07.16.14

U.S. Seeks Legislation to Curb Offshore Tax Deals [Bloomberg]
Treasury Secretary Jacob Lew would like Congress to get on this, chop chop: "The Obama administration called for immediate congressional action to stop U.S. companies from using cross-border mergers to escape the country’s tax system, the latest trend in corporate deal-making. In a letter calling for a 'new sense of economic patriotism,' Treasury Secretary Jacob J. Lew said Congress should approve tax changes retroactive to May."

PwC Can't Duck FDIC Negligence Claims Over $899M Fraud [Law360 (Registration)]
They'll just have to continue stringing it out: "An Alabama federal judge refused Tuesday to dismiss Federal Deposit Insurance Corp. claims against PricewaterhouseCoopers LLC and another company over alleged failures in their auditing of Colonial Bank, saying the agency didn't need to show it could have anticipated the form that an $899 million mortgage fraud would take."

16 U.S. Cities Where Women Actually Earn More Than Men [FC]
Jacksonville, NC; Indio, CA; Inglewood, CA are you gold, silver bronze winners.

The Right Way to Unplug When You’re on Vacation [HBR]
Internet is still allowed.

Sometimes Life at Deloitte requires some common sense:

FASB proposals on inventory, extraordinary items seek simplification [JofA]
Adios, extraordinary items.

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