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Footnotes: A Revenue Recognition Transition Group; Twitter’s Tweet Break; Will Tax Reform Come to Blows? | 07.26.13

London court orders Grant Thornton to release reports in Tchenguiz suit [Reuters]

Twitter Getting $22 Mil Tax Break for Helping Charities Tweet [VW]

FASB and IASB to Form Revenue Recognition Transition Group“Revenue is a key performance indicator and is important to every business,” said IASB chairman Hans Hoogervorst in a statement. “Our joint transition group will help to ensure that stakeholders are reading the words in the new revenue standard in the way that we intend that they be read.” [AT]

Michigan governor: Detroit had ‘no other viable options’ than bankruptcy [The Hill]

Our Secretive Senate There’s a group called Taxpayers for Common Sense that is sending a letter to Senators Baucus and Hatch urging them “to make all correspondence with the committee relating to this tax reform public in real time.” On behalf of Tax Analysts, I signed on to that letter. For more than 40 years, Tax Analysts has fought (and sometimes quite literally that) for transparency in the making and administering of our tax laws. [Chris Bergin/Tax Analysts]

Coffee drinking linked to 50% lower risk of suicide [io9]

Grover Norquist: Tax cuts are not people, my friend. [@GroverNorquist]