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December 6, 2022

Footnotes: What’s Missing in the MF Global Saga; Tax Deadline Extension for Sandy Victims; France’s Beer Tax Hike | 10.31.12

On MF Global Anniversary Something Still Missing What’s still missing from this sordid affair is an accounting of the whereabouts of the financial auditor, PricewaterhouseCoopers. The global audit firm would rather come off as stupid than complicit in the actions of whomever broke the law and stole MF Global customer funds. PwC prefers you believe they were “duped” and given false or no information when executives took on inordinate risk with little or no oversight, and took advantage of lax or relaxed internal controls to double down with other people’s money in the noble hope they could “save the company” for investors including Corzine’s true boss, Chris Flowers. [Forbes]

Three CFOs Tell How They Found New Revenue Without managing earnings! [CFO]

Tax Deadline Extended for Sandy Victims [WSJ]

Business group says Bowles-Simpson wants too much revenue The Tax Relief Coalition, a group of more than 1,000 companies and business groups, said that President Obama’s fiscal commission, led by Erskine Bowles and Alan Simpson, was right to push for both spending restraint and tax reform. But the group, which includes the U.S. Chamber of Commerce and the Business Roundtable, also said the current Bowles-Simpson framework concentrates too much on the tax side. “TRC acknowledges the efforts of Bowles-Simpson to establish a framework for substantive entitlement and tax reform, but because of the significant imbalance in entitlement programs, we also believe that any serious reform must include significantly more in spending reductions than in revenue,” the coalition said in a release. [The Hill]

French brewers hit by 160% rise in beer tax [Guardian]

Gay Couples May Want to File a Protective Tax Refund Claim [Bucks/NYT]

The Strange Science Of Translating Sarcasm Online News you can use. [WSJ]

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