Congress Passes Tax Deal [WSJ]
How funny would it be if Obama vetoed this thing, just to psyche everyone out? “Congress passed the most far-reaching tax bill in a decade late Thursday, averting across-the-board tax increases, enacting new breaks for individuals and businesses and laying a marker for how Washington might work in an era of divided government.”

PwC Charitable Foundation Commits $500K to Feeding America [PR Newswire]
‘Tis the season, “The donation marks the third year in a row that PwC and the PwC Foundation are giving more than $1 million during the holiday season.”

Christmas Gifts for that Special Tax Person [TaxProf Blog]
Seven shopping days left.

Weathering the Storm: The Top Five Finance Cities Through the Crisis [FINS]
There’s one on the East Coast!

HAPPY BIRTHDAY TO US! [Tax Update Blog]
Our friend Joe Kristan’s firm, Roth & Co., is celebrating 20 years in the business and has plenty of pictures that prove it.

Accountant arrested for theft of $1,000 [The Mercury]
He must have really wanted an iPad (or something).

Church accountant accused of embezzling more than $2 million [Bellingham Herald]
This is slightly better. And by “better” we mean, “the thief was not as stupid.”

Deloitte contributes the thing it knows best: skills [WBJ]
“Donation and typical volunteer hours are also important but don’t necessary make the greatest difference down the road,” says Emily Rothberg, Southeast community involvement leader for the company, whose stated strategy with nonprofits is to work “with their leadership and staff to help address some of their critical challenges.”

House Democrats Set Vote on Estate Tax, Tax-Cut Extension Bill for Today [Bloomberg]
The U.S. House is poised to vote today on a compromise between President Barack Obama and Republicans to extend Bush-era tax cuts, with a dispute over the federal estate tax looming as the final hurdle.

The House will vote on a proposal to amend the compromise plan with a higher estate tax sought by Democrats — and which Senate Republicans say they will refuse to accept. If that amendment fails, the House will vote on final approval of the bill passed by the Senate yesterday, 81-19.

A Question for Green Mountain Coffee Roasters [White Collar Fraud]
Specifically, Sam is asking CFO Francis Rathke to clear something up.

Mortgage-Bond Math Means Everyone Is a Winner in Duel Audit [Jonathan Weil/Bloomberg]
This feels more like a practical joke than a conspiracy, “There’s no reason to think MBIA Inc. and Bank of America Corp. are conspiring to make the Big Four accounting firm PricewaterhouseCoopers LLP look foolish. They couldn’t have done a better job, though, if they tried.

As the outside auditor for both companies, it’s PwC’s job to make sure each presents its financial results fairly. The strange part here is that MBIA and Bank of America have taken dueling accounting positions when it comes to some soured mortgage bonds that MBIA insured during the housing boom. PwC meanwhile is letting both companies’ approaches stand.”

Fixing the Broken Audit Model [The Summa]
Dave Albrecht has some ideas.

Schmalbeck: With Tax Vote, Congress Will Have Blood on its Hands [TaxProf Blog]
Unless Congress acts very quickly, there will be blood as the accidental estate tax “holiday” slouches toward expiration on December 31. Tax “holidays,” during which a tax is temporarily suspended, are questionable tax policy at best. But they are truly disastrous in the case of a tax that is triggered only by death. Estates that might be exposed to the tax can channel the incidence of the taxable event into the window of the tax holiday, but only through homicide or suicide (or the practical equivalents of “pulling the plug” on life support devices).

Altria Shuffles Executives, Names New Financial Chief [Dow Jones]
C-suite musical chairs at the smoke shop.

Have You Been Tempted to Cheat on Your Taxes? [You’re the Boss]
It’s a simple a question.