In an unexpected revelation, an Accountemps survey found that CFOs plan to offer more money […]
Ed Gillespie, "a senior Romney advisor," provides precisely zero insight as to the timing of […]
Report Goes Out on a Limb, Suggests That Democrats Will Use Study Findings to Their Advantage in Tax Cut Debate
From Reuters: Letting tax rates for the wealthy rise will not put a short-term damper […]
Who knew? U.S. companies with offshore operations could be saving billions of dollars by utilizing […]
Yep! And apparently there’s new evidence “suggesting” as much:
The Chartered Accountants’ Benevolent Association is logging rising numbers of calls from professionals who appear to be developing mental health issues, or believe they are at risk of doing so. Interim operations team manager Helena Coxshall said the evidence is not conclusive as the helpline does not offer medical diagnosis, but highlighted rising numbers of calls in the second half of 2011. “These are coming from people who feel that they are heading towards a potential breakdown and we also see it from people who call us regarding other issues, but appear to be showing symptoms of mental illness of which they may be unaware,” she continued.
So take care out there, masters of the double-entry system. The last thing we want to see is any of you cracking up.
Accountants’ mental health ‘hit by stress’ [Accountancy Age]
That is, the DOJ wouldn’t indict Goldman on criminal charges like they did Andersen. Which, you may recall, didn’t turn out so well for A^2.
DealBook reports the musings of Sanford Bernstein analyst Brad Hintz:
If an alleged violation is identified during a Goldman investigation, we expect a reasoned response from the Justice Department. In a worst case environment, we would expect a “too big to fail” bank such as Goldman to be offered a Deferred Prosecution Agreement, pay a significant fine and submit to a Federal monitor in lieu of a criminal charge. Consequently, we do not believe that Goldman investors face an “Arthur Andersen” risk.
For those not previously aware:
A talent war is among the top concerns for both the accounting profession and their corporate clients, says Jim Henry, managing partner at PricewaterhouseCoopers in San Francisco. Even as the nation struggles with persistently high unemployment, those with the right skills and credentials are in demand. “We’re seeing a hot market for those with the relevant skills,” said Henry. “It’s a sign of the economy improving over the last 18 months.”
Next thing you know you’ll hear about CPAs in Iowa (with the exception of one with whom we’re acquainted) opposing the repeal of ethanol credits.
The Texas Society of CPAs’ Federal Tax Policy Committee addressed the issue in its “Analysis of Legislative Proposals to Repeal Certain Tax Treatments of Domestic Oil and Gas Exploration and Development”.The committee agrees that reducing the deficit is of utmost importance, but said that any effort to cut tax incentives for oil companies and raising taxes on oil and gas exploration and development should be weighed against its potential to exacerbate the current underemployment issue, and the need for a secure source of energy.
As noted in the analysis, the committee said it believes repealing tax benefits and allowances for the industry could adversely impact the state’s oil and gas industry, and the economies of Texas and the U.S.
[K]ey Republicans have not responded positively to signals that President Obama will push for some tax increases in his deficit-reduction plan to be laid out this week. David Plouffe, a senior White House adviser, indicated Sunday that the president would reiterate his call to raise taxes on households making $250,000 and above and also signal a desire to look at other provisions in the tax code that wealthier taxpayers use to their advantage. In his fiscal 2012 budget, released in February, the president called for allowing the Bush tax cuts to expire for income above $200,000 for individuals and $250,000 for couples at the end of next year. That statement came roughly two months after a compromise with congressional Republicans had extended current tax rates for the richest taxpayers for two years. [The Hill]
This newsflash is brought to you by OfficeMax’s National “Tax it To Me” survey:
For busy accountants responsible for filing taxes on behalf of the approximately 82 million out of 228 million American adults who opt to use professional services, tax season is perhaps even more emotionally wrought. A busy plate often leads to a poor work/life balance, botched sleep schedules, poor eating habits, and problems in personal relationships.
And if you can believe that, the survey also found that taxpayers blame procrastination of filing their returns on nervousness, confusion and laziness (among other things). Now remove your hand from your forehead and get back to work.
[via The Hill]