Thursday, June 21, 2012

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The Imprecise World of Accounting
(CFO) - Although you need math to make accounting work, you shouldn’t count on mathematically precise outcomes, the chairman of the International Accounting Standards Board contends. 
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IRS Resists Whistle-Blowers Despite Wide U.S. Tax Gap
(Bloomberg) - Over the past five years, more than 1,300 claims have been filed against almost 10,000 companies and individuals, alleging tax underpayments of at least $2 million apiece. Just three awards have been paid. 
Taxes and Clawing Back Jamie Dimons $23.1M Pay?
(Forbes) - After J.P. Morgan’s big losses, should Jamie Dimon have to return some of his pay? Clawbacks can occur under the Dodd-Frank Wall Street Reform and Consumer Protection Act (PL 111-203) even from those with no knowledge of wrongdoing...But returning pay could trigger tax problems. 
How to Banish Bloatware
(PC World) - Keep your PC running lean by switching to smaller, faster versions of popular programs. 
Experts: Temporarily Extend Tax Cuts With 2013 Tax Reform Guarantee
(BNA) - Without congressional action, at the end of 2012 the reduced tax rates are set to expire, while on Jan. 1, $1.2 trillion in spending cuts are set to begin. 
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