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News

The Daily

  • Even at $75K Per Year, Many Still Struggle to Save

    By:
    Chris Gaetano
    |
    Apr 17, 2015
    A new study has found that, of those making $75,000 or more a year, nearly one third still live essentially paycheck to paycheck. 

  • House Passes Estate Tax Repeal Bill

    By:
    Chris Gaetano
    |
    Apr 16, 2015
    The House of Representatives has passed a bill that, if implemented, would repeal the estate tax entirely, with the 240-179 vote falling mainly along party lines. 

  • E&Y Settles with NY Attorney General Over Lehman Bros. Collapse

    By:
    Chris Gaetano
    |
    Apr 16, 2015
    Ernst and Young has agreed to pay $10 million in order to settle claims that the Big Four firm had allowed its client, Lehman Brothers, to deceive investors before its spectacular 2008 collapse. 

  • CEOs Behaving Badly Can Cost Company Millions

    By:
    Chris Gaetano
    |
    Apr 15, 2015
    Violence, substance abuse, dishonesty, and sexual misadventure are things that most people would agree are not what they want in a CEO, and a new study has attempted to quantify just how much these behaviors cost the company when the chief does them. 

  • IRS Audits Down for Everyone But Foreign Filers

    By:
    Chris Gaetano
    |
    Apr 15, 2015
    While budget cuts have severely reduced the chances of getting an IRS audit at home, they have increased for taxpayers living abroad. 

  • Study: Sales Tax Won't Depress Consumer Spending

    By:
    Chris Gaetano
    |
    Apr 14, 2015
    A new study has found that sales taxes have very little effect on someone's decision on whether or not to buy something, with nearly a third of people not even thinking of sales tax at all. 

  • Appeals Court Weighs Constitutionality of SEC In-House Courts

    By:
    Chris Gaetano
    |
    Apr 14, 2015
    The Securities and Exchange Commission has been making generous use of internal courts to judge cases, something that one defendant says violates his right to a fair hearing. An appeals court is set to determine whether this is the case.      

  • Study: Long Work Hours, Heavy Drinking Correlated

    By:
    Chris Gaetano
    |
    Apr 13, 2015
    A new study that compared working adults across the world found that people who work long hours are more likely to be heavy drinkers, a point of concern when also factoring in other health effects from burning the candle at both ends. 

  • Why Alabama is a Hotbed of Identity Theft

    By:
    Chris Gaetano
    |
    Apr 13, 2015
    Alabama is an invisible hotbed of tax-related identity theft. Why? Apparently, its population has a high number of types of people who are considered ideal targets for such a crime. 

  • Fraud Sentencing Guidelines Changed to Go Easier on "Least Culpable Offenders"

    By:
    Chris Gaetano
    |
    Apr 10, 2015
    The U.S. Sentencing Commission voted to change sentencing guidelines for fraud: courts will now account for amount of monetary harm caused by an offender (versus simply number of victims), as well as their level of culpability in the scheme.  

  • IRS Workers Demoralized, Overworked

    By:
    Chris Gaetano
    |
    Apr 10, 2015
    It seems like no one is happy: taxpayers hate filing their taxes, and IRS workers hate processing them, especially now that staffing has been severely reduced due to budget cuts, leading to more responsibilities handled by fewer people, a situation that has severely reduced staff morale for the agency. 

  • Bright, Sunny Offices May Be Too Much of a Good Thing

    By:
    Chris Gaetano
    |
    Apr 9, 2015
    Be happy, but not too happy: a study has found that having lots of natural sunlight in an office makes workers more sociable, which can good for the company in part, but bad if you're on deadline. 

  • Why Would You Buy $1100 Worth of Losing Lottery Tickets?

    By:
    Chris Gaetano
    |
    Apr 9, 2015
    There's an underground market for lottery tickets--losing lottery tickets. Scratch offs orPowerball, it doesn't matter as long as they're losers. Why?

  • Study: Splitting "Work Self" and "Home Self" Too Much Can Take Health Toll

    By:
    Chris Gaetano
    |
    Apr 8, 2015
    While every job--hell, every setting when you get down to it--requires us to tamp down certain aspects of ourselves to get by, a new study find that doing so too much can take a toll on your health in the long term, and also just doesn't feel that great. 

  • Private Company Council Chair to Step Down, Search for Replacement Begins

    By:
    Chris Gaetano
    |
    Apr 8, 2015
    Billy Atkinson, the current chair of the Private Company Council, has announced that he will not be seeking a second term. This means the Financial Accounting Foundation is now seeking nominations for a new chair. 

  • Final Remains of Enron's Europe Operations Buried

    By:
    Chris Gaetano
    |
    Apr 7, 2015
    PwC has, after 14 years, successfully wound down the last remaining European assets of the defunct company Enron, which has since become synonymous with unethical financial practices. 

  • Wages for Lowest Paid Workers Will Increase This Year, says Aetna CEO

    By:
    Chris Gaetano
    |
    Apr 7, 2015
    The CEO of the insurance company Aetna predicts that 2015 will be the year that wages for the lowest paid workers in the country will finally begin inching up, citing moves already made by companies like McDonald's and Wal-Mart as the first of many. 

  • Accounting an Increasing Sticking Point in Securities Class Action Suits

    By:
    Chris Gaetano
    |
    Apr 6, 2015
    The number of securities-related class action lawsuits that involve allegations of accounting-related fraud has increased dramatically over the past two years, climbing 47 percent. 

  • IRS Commissioner Koskinen Calls for More Young People to Join Service

    By:
    Chris Gaetano
    |
    Apr 6, 2015
    IRS Commissioner John Koskinen has noted with alarm that a large number of IRS employees are over 50, and said the service must attract younger people who replace older leaders as they go. 

  • Be Nice: It Pays Off

    By:
    Jason Wong
    |
    Apr 3, 2015
    We’re all familiar with the adage that nice guys finish last. However, a new book finds that CEOs who score highly on characteristics like integrity and compassion actually deliver better results for company shareholders, according to Fortune.
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