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Carlos Slim, Mexican telecommunications tycoon and second richest man in the world, said the world could benefit from a radical restructuring of how we think of the work week: instead of eight hours a day, five days a week, until retirement at 60, Slim asked more companies to consider an alternative: eleven hours a day, three days a week, until retirement around 70 or 75, according to the Financial Times. He believes that doing so could lead to a happier, healthier workforce with more time to enjoy life.
A lawsuit brought against the IRS by 10 different Tea Party-affiliated groups has been permitted by a federal judge to go forward, said the Associated Press. The groups are claiming that the IRS discriminated and retaliated against them based on their views in violation of their free speech rights, though the judge did dismiss another claim regarding privacy violations, though this dismissal was more procedural in nature as the ruling said that the tea party groups co
A group of 12 senators and representatives have sent a letter to the Securities and Exchange Commission saying that companies should not be able to choose whether they want to file in U.S. GAAP or International Financial Reporting Standards (IFRS), according to Reuters. The letter was written in response to SEC Chair Mary Jo White taking part in an April meeting in Australia where the possibility of allowing U.S.
IRS Taxpayer Advocate Nina E. Olson said that the IRS has made a lot of progress over the last half year in her most recent report to Congress, but said that there still remains much to be done, according to the IRS. The report, which came out two days ago, said that the IRS did the right thing by adopting the Taxpayers Bil of Rights Olson had been pushing for, though said there needs to be enforcement mechanisms to give it teeth.
You may be a worker, but you're still a human being and in a free society people shouldn't be afraid to express reservations or identify conflict with those who are higher up on the ladder than they are--despite this, however, calling out the boss can be an exercise fraught with anxiety and fear to the point where a lot of people might think it's easier to just not say anything at all.
Big Four firm Ernst and Young is a defendent in an investors' lawsuit over losses incurred from Bernie Madoff's multi-billion dollar Ponzi scheme, along with one of its clients, a Madoff feeder fund, according to Bloomberg. The suit was launched by a portfolio management firm that said it lost $195 million when the scam collapsed. The client, Tremong Group Holdings, was the second largest feeder fund attached to the scheme.
The New York State Department of Financial Services is considering requiring companies that deal with virtual currencies such as Bitcoin to get a special license from the government as part of a broader regulatory framework that will focus on consumer protection, anti-money laundering compliance, and cyber security rules tailored for virtual currency firms. License holders would be required to comply with a number of different regulations, including:
Three academics from Scotland, the U.S. and France studied Big Four firms in three different countries--Canada, the UK and France--in order to find out to what extent there is convergence or divergence between their operations in different countries with these international organizations, according to Economia.
Secretary of the Treasury Jacob Lew sent a strongly worded letter to members of the House Ways and Means Committee responsible for tax policy and urged legislation that would make it more difficult for U.S. corporations to reorganize in other nations in order to lower their tax burden, according to the LA Times.