October 2, 2022

Accounting News Roundup: Tax Policy Can Wait; SEC Turning 80; Deloitte KC’s New OMP | 06.05.14

European Central Bank Takes a Radical Step [NYT]
Negative interest rates? Hey, what not? "The European Central Bank cut its benchmark interest rate to a record low on Thursday and, in an unprecedented attempt to stimulate the euro zone economy, said it would begin charging interest on deposits held by the bank. The so-called negative deposit rate has never been tried on such a large scale and is a bid to push down the value of the euro and encourage banks to invest excess cash rather than hoard it in central bank vaults."

Expired Corporate Tax Breaks May Have to Wait Out November Elections [CFOJ]
Priorities, you know.

Overruled, Judge Still Left a Mark on S.E.C. Agenda [DealBook]
Jed Rakoff made his point: "A federal appeals court on Wednesday overturned Judge Rakoff’s decision in 2011 to reject an S.E.C. settlement deal with Citigroup, undercutting the judge’s concerns that the bank got off with little more than a slap on the wrist. In a long-awaited opinion, a three-judge panel of the United States Court of Appeals for the Second Circuit concluded that Judge Rakoff “abused” his discretion “by applying an incorrect legal standard” to the case. The court sent the case back to Judge Rakoff, who is expected to eventually approve the deal."

Speaking of the SEC — They's old.

Deloitte names new managing partner in Kansas City [KCBJ]
Craig Kuckelman succeeds Jeff Provost.

Woman is scammed by someone claiming to be from the Internal Revenue Service [BN]
Protip: The IRS won't send you to Home Depot to make good on back taxes: "According to the Niagara County Sheriff Department on Tuesday an unknown male suspect coaxed the 39-year-old woman into purchasing 11 different reload cards from Home Depot. The woman said she felt something wasn’t right, but was too afraid of going to jail that she followed the man’s directions. The victim said the man told her she owned [sic] back taxes and if she did not immediately pay her taxes she would go to jail."

Five Minutes with Calvetti Ferguson Managing Partner Jason Ferguson [SABJ]
If you're looking for growing CPA firm in San Antonio, you could do worse: "
Calvetti Ferguson, one of Houston's fastest-growing energy accounting firms, this week opened a San Antonio office to keep pace with booming activity around South Texas' Eagle Ford Shale. While the office currently operates with a skeleton staff, it's expected to grow to 25 employees within the next three years, and the company is now scouting for a permanent space in the Alamo City."

Guy Buys $1 Stanley Cup Tickets; StubHub Takes Them Away [Deadspin]
But they did offer to make it up to him with a $300 voucher. Too bad the cheapest ticket for Game 6 listed on Stubhub is $1,686.

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