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Footnotes: Party’s Over for Chinese Companies; Diversity at the IRS; E-filing and Tax Return Fraud | 01.14.13

Chinese companies retreat from U.S. listings as scrutiny mounts U.S. government investigations of suspect financial reports and battered share prices have for many Chinese companies wrecked the chances of raising new money in the United States and given them little reason so stay, China experts said. "There's very little in way of new capital flows to those companies, their valuations are low and they're encountering significant headwinds in terms of regulatory oversight," said James Feltman, a senior managing director at Mesirow Financial Consulting. [Reuters]

Big 4 firms aren't nearly as diverse as the IRS. [Martin Sullivan]

Should Louisiana Dump Its Income Tax for a Bigger Sales Tax? [TPC/TaxVox]

Many CFOs Moving to Insource XBRL [CFO]

Dell Said to Be in Buyout Talks With Private-Equity Firms [Bloomberg]

E-Filing and the Explosion in Tax-Return Fraud [WSJ]

The Tax Foundaton's Monday Map is state gasoline tax rates. [TF]

Guinness World Record For Largest Snowball Fight Set In Seattle It took more than three months of planning and high-tech monitoring to make sure an afternoon of fun met Guinness criteria for record-setting, said organizer Neil Bergquist. About 6,000 tickets were sold online, and participants were given bar-coded wristbands that were scanned as they entered and left the location, so at any time they had an instant count. Then for the official minute-and-a-half snowball fight there were 130 judges watching for pacifists. Anyone not throwing snowballs was deducted from the total, Bergquist said Monday. [AP]

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