Chief Financial Officer Patrick Pichette on Thursday downplayed the competitive threat from social-networking giant Facebook Inc., arguing that the digital economy will create a “ton of winners.” “Everybody will benefit if the Web is more social,” he said. “It’s not a zero sum game.” [Dow Jones]
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What Happens When Congress Says, “We’ve Got Time. We’ll Get to It”
- Caleb Newquist
- October 16, 2010
“Ever since the tax cuts were enacted in 2001 and 2003, policy makers have known the law would expire at the end of 2010. That ‘drop dead’ date offered an auspicious way to galvanize a systematic effort to reform a tax system that is badly in need of repair. Instead, policy makers pretty much ignored the issue until just before the 2010 Congressional recess, when politically tinged efforts to extend some or all of the tax cuts finally began — a ‘debate’ that was too little, too narrow, and too late.”
~ William G. Gale, Miller Chair at the Brookings Institution and co-director of the Urban-Brookings Tax Policy Center
Off-Balance Sheet Accounting 2.0
- Caleb Newquist
- October 8, 2010
“They will help investors to better understand off-balance sheet risks, and to alert them to the possibility of so-called window dressing transactions occurring at the end of a reporting period.”
~ Sir David Tweedie talking up the new rules that were published by the IASB today.
The IRS Outreach to Nonprofits Didn’t Go So Hot
- Caleb Newquist
- May 19, 2010
“The IRS has conducted an unprecedented outreach effort in the tax-exempt sector on the 2006 law’s new filing requirements, but many of these smaller organizations are just now learning of the May 17 deadline.”
~ Doug Shulman, IRS Commissioner