Please ensure Javascript is enabled for purposes of website accessibility
February 1, 2023

Accounting News Roundup: Treasury’s One-Page Wonder; Unhelpful H.R.; ‘Sheer Curiosity’ | 12.12.17

accounting news tax bill

Trump administration explains details of how tax plan would pay for itself, immediately gets attacked for assumptions [WaPo]
No one is buying the conclusions of a one-page memo that expects the tax plan to generate a full percentage point more of economic growth than the Congressional Budget Office estimated. “One percentage point of higher growth sounds like a little bit, but it’s the equivalent of me being one foot taller and able to dunk a basketball,” one economist said.

Meanwhile: “[European] finance ministers said the U.S. overhaul contains protectionist measures that could violate double-taxation treaties and breach world trade rules.”

Sexual Harassment Cases Show the Ineffectiveness of Going to H.R. [NYT]
Human resource departments don’t have a great track record when it comes to handling sexual harassment complaints, and that makes things worse: “The lack of trust manifests itself as a self-perpetuating quandary: Women are hesitant to approach human resources departments and those departments cite the absence of complaints as proof of a respectful workplace.”

Earlier: When will the #metoo shoe drop on public accounting partners?

Louisiana man admits misusing Trump’s Social Security number [AP]
Jordan Hamlett tried to access President Trump’s tax returns after he tried “to open an online application for federal student aid” with Trump’s name and social security number. Prior to pleading guilty yesterday, Hamlett’s lawyer said that his client’s attempts were made “out of sheer curiosity.” A Treasury agent testified that when he was apprehended, “Hamlett immediately took credit for his ‘genius idea.'”

From the GC archives: A Picture of a Cat Led to a Suspect in the Stolen Romney Tax Returns Caper

Food Review App Shuts Down ICO [CFO, SEC]
The SEC says Munchee, a “California-based company selling digital tokens to investors to raise capital for its blockchain-based food review service,” was essentially selling unregistered securities.

Elsewhere: People are taking out mortgages to buy bitcoin

Survey says…

Reminder: We want to know about your experience with the month-end close process.

Previously, on Going Concern…

Megan Lewczyk wrote about the massive DoD audit.

In Open Items, a user wants to know when to give notice since “my official 2 weeks notice would fall on Christmas.”

In other news:

Get the Accounting News Roundup in your inbox every weekday by signing up here. You can also sign up to receive our job alerts for select cities like Atlanta and Los Angeles.

See something we missed? Have a tip, correction, comment, or complaint? Email us at [email protected].

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

a dog wearing VR

Monday Morning Accounting News Brief: Deloitte on Microtransactions; More EY Split Roadblocks; Have You Become Irritable? | 11.28.22

Happy Monday! Here’s some stuff that’s going on. Several US audit firms told the Financial Times that they had elevated some or all of their crypto-related clients to the status of “high risk”, triggering a more thorough audit that will take longer and lead to higher bills; some clients could ultimately be dropped altogether. KPMG […]

woman working on a laptop with a dog beside her

Monday Morning Accounting News Brief: The Leadership Void; KPMG Gets Fined (Again); PwC Ups Leave | 10.3.22

Deloitte launches Global Sustainability & Climate learning program that aims to enhance skills and capabilities of Deloitte people to help address a global societal challenge. Dubai’s financial regulator has provisionally fined KPMG and one of its former partners $2 million over the firm’s auditing of Abraaj, the emerging markets private equity group that collapsed in […]