October 1, 2022

Footnotes: Let’s See…Yep, Still Shut Down; Tax Reform Is Now a Bargaining Chip; The Next Century of Taxes | 10.02.13

Shutdown Seen Merging With Debt-Limit Fight Amid Impasse [Bloomberg]

Reid offers to talk tax reform if GOP ends federal shutdown [The Hill]

PCC to ask FASB to endorse first private company GAAP exceptions [JofA]

Jury Convicts Former NBA Player Of $2 Million Ponzi Scheme [Ponzitracker]

Creativity fails to protect custom homebuilder from capitalizing costs [Tax Update]

Cerberus Seeks to Examine BlackBerry’s Books [DealBook]

Here's an awful story about a CPA in Sturgis, Michigan who appears to have been murdered. [KG]

Beanie Babies Creator Cries, Pleads Guilty The billionaire who created Beanie Babies broke down crying in court Wednesday as he pleaded guilty to one count of tax evasion for hiding $25 million in income in secret Swiss bank accounts. H. Ty Warner, 69, also apologized as he stood before a federal judge in Chicago, removing his designer tortoise-shell glasses and wiping away tears as he struggled to regain his composure. "I have so much to be thankful for," said the suburban Chicago businessman, his voice breaking as he cited his Illinois-based stuffed-toy company, TY Inc. "There is no excuse for my actions." [AP]

Gawker's Hamilton Nolan has five ideas for the "Next Century of Taxes." [Gawker]

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