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December 2, 2022

Accounting News Roundup: Taxes Are a Snap for the Poors; EY Still Dealing with IndyMac; Better-Late-Than-Never SEC Filings | 04.10.14

Poll: Most Americans say filing taxes easy [AP]
The trick? Be poor! "Not surprisingly, higher income taxpayers are more likely to say that filling out tax forms is difficult. Wealthy people tend to have more complicated taxes because they often have multiple sources of income and they are more likely to itemize their deductions, making them eligible for more tax breaks."

Ernst & Young Hid IndyMac Crisis, Investor Tells 9th Circ. [Law360 (Subscription)]
Some people aren't giving up on suing auditors over failed banks: "A former IndyMac Bancorp Inc. investor on Wednesday urged the Ninth Circuit to revive a putative securities class action accusing Ernst & Young LLP of concealing the bank’s perilous condition before its collapse, saying the accounting firm falsely opined that IndyMac’s financial statements conformed with generally accepted accounting principles."

Companies lagging in conflict minerals process [JofA]
If just 4% of 700 companies have drafted their SEC filings is that "lagging" or "not doing"? 

People get the most out of that 5-day exentension.

What’s Behind That 1040? Check Out TPC’s Interactive Tax Forms [TaxVox, Forms]
Pages 1 and 2 of the 1040 and Schedule A are available for your enjoyment.

'Cool' London is dead, and the rich kids are to blame [Telegraph]
FYI, New York. 

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