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September 26, 2023

Accounting News Roundup: SEC’s Home Field Advantage; A Valueless Stock Award; Satisfying Candy Bar Still Not Tax Deductible | 04.14.15

Appeals Panel Considers SEC’s Use of In-House Courts [WSJ]
Defendants in the administrative proceedings, allowed by Dodd-Frank, argue that the system is unconstitutional and biased in favor of the Commission.

Who wrote the ‘IRS code’? Hint: It wasn’t the Internal Revenue Service [WaPo]
Journalists and politicians tossing red meat often use "IRS code" instead of the technically correct "IRC" or "Internal Revenue Code."

The $74 Million Stock Award That Jarden’s Board Values at Zero [Bloomberg]
The restriced shares granted to Executive Chairman Martin Franklin willvest if the company reaches the performance criteria of $10.5 billion in revenue and adjusted EPS of $4 by December 31, 2018. The company says that's improbable, hence, the zero value.

Deloitte appeal over MG Rover collapse sees £14m fine cut to £3m [Guardian]
Eight of the thirteen charges brought by the FRC didn't stick in an appeals tribunal so the firm is paying a lower fine.  

Ten Percent of S&P 500 Companies Avoid Paying U.S. Taxes [Bloomberg
More specifically, "are now at least partially exempt from the corporate income tax," thanks to inversions or qualifying as a REIT.

Dinner on 4/13 as a tax accountant [via r/accounting]
Someone's shooting for diabetes.

The SNICKERS Write-off [YouTube via TaxProf]

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