GAO: Fed. Govt. Made $125B in Improper Payments
A new report from the Government Accountability Office urged the federal government to please be more careful with its money, as it calculated that, over the past year, it has paid out about $125...
View ArticleSCOTUS: Fishy Finances Not the Same As Actual Fish
While any number of interesting metaphors can be made comparing marine life to a public company's financial information, the Supreme Court of the United States decided in a 5-4 ruling that the federal...
View ArticleHealthCare.gov Site Sends Wrong Tax Info to 800,000
If you signed up for insurance through the HealthCare.gov website, you may be one of about 800,000 people who received incorrect tax information from the federal government and so were told to hold...
View ArticlePresident to Propose Loads of New Tax Measures in SOTU Address
President Obama plans to propose many new tax measures during his state of the union address tonight aimed at funding additional aid to lower and middle class people, according to CNN Money. While the...
View ArticleAICPA Recommends Tax Reforms to Paul Ryan
The AICPA has sent a letter to the new chairman of the tax-writing House Ways and Means Committee, Rep. Paul Ryan (R-WI), detailing various tax reform concerns, according to Accounting Today.read more
View ArticleState Department Raises Citizenship Renunciation Fee 422 Percent
With the demand of American expatriations showing no signs of slowing, the State Department has raised the fee for expatriation from $450 to $2,350, more than 20 times the average in other high-income...
View ArticleCongressman Introduces Paycheck Bonus Tax Credit Legislation
Congressman Chris Van Hollen (D-Md.) is proposing legislation that would provide a “Paycheck Bonus TaxCredit” of $1,000 a year for every worker, according to Accounting Today. read more
View ArticleCongress Passes Tax Break Package
The Senate passed a $41.6 billion package of tax breaks on Tuesday, making the legislation’s next stop President Obama, according to The Hill. If signed by the president, the measure will extend more...
View ArticleCongress Agrees to $1.1 Trillion Spending Bill
With only weeks before the end of the year, Congress has come to a deal on a spending bill that keeps the government funded through next September, at the cost of $1.1 trillion, said the Washington...
View ArticleRepublicans File Suit Against Administration Over ACA
House Republicans have filed the often talked about lawsuit against the administration over its handling of the Affordable Care Act's implementation, according to CNBC.read more
View ArticleChicago Think Tank to Unveil Report Targeting Federal Accounting Practices
Nonprofit Chicago think tank Truth in Accounting (TIA) will soon release its federal project analyzing the 2013 federal budget, according to an op-ed published by the organization’s founder and CEO,...
View ArticleFederal Reserve Issues Rule Prohibiting Oversized Firms
The U.S. Federal Reserve finalized a rule designed to prevent large financial firms from becoming so big that their failure could significantly destabilize the U.S. financial market, according to...
View ArticlePresident Signs Order to Move Cards to Chip and PIN
President Barack Obama has signed an executive order mandating that federal agencies transition to chip and PIN credit card technology by January, replacing traditional magnetic strips, said Forbes....
View ArticleAG Eric Holder to Resign
U.S. Attorney General Eric Holder will be stepping down from his position after five and a half years in the administration, according to NPR. White House insiders say that Holder is leaving of his...
View ArticleLawmakers Urge House Leaders to Keep Cash Method of Accounting
More than half of lawmakers in the House of Representatives have joined a bipartisan push to preserve the cash method of accounting for tax purposes, according to Accountancy Age.read more
View ArticleReport: Medicare Healthier Than Thought, but Social Security Under Stress
While Medicare's hospital fund is expected to last four years later than previously anticipated, with the fund anticipated to run out by 2030, Social Security will lose the ability to fully pay for its...
View ArticleObama May Not Need Congress to Shut Down Corporate Inversions
While legislation targeted at corporate inversions has been a tough sell in Congress, the president has the ability to use a 1969 tax law to unilaterally stop the process from the executive branch,...
View ArticleSurvey: Obamacare Less Worrisome Than Other Rule Changes
A poll undertaken by a labor and employment law firm has found that business owners are dreading new potential regulations--but this dread is not as linked to the implementation of the Affordable Care...
View ArticleObama to Intensify Calls to End Corporate Inversion
Following closely on the heels of a letter by the Treasury Secretary asking lawmakers to address abuse of the corporate inversion process, President Barack Obama will give a speech tonight calling for...
View ArticleGAO Finds Internal Control Flaws in Obamacare Exchanges
As if the exchanges weren't having enough problems lately, a new report from the Government Accountability Office has revealed serious internal control problems that could allow people to federal...
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