Latest Articles

  • SEC Deputy Chief Accountant Announces Departure

    By:
    Chris Gaetano
    |
    Aug 14, 2020
    Marc Panucci, the Security and Exchange Commission's deputy chief accountant, plans to leave the agency later this month.
  • IRS Rules That Fantasy Sports Wagers Are Taxable

    By:
    Chris Gaetano
    |
    Aug 14, 2020
    In a major blow to fantasy sports companies like FanDuel and DraftKings, the IRS has rules that an excise tax applies to every single wager they accept.
  • Suit Against Insurers for Coverage of Pandemic Business Losses May Proceed

    By:
    Chris Gaetano
    |
    Aug 14, 2020
    A federal judge in the Western District of Missouri has ruled that a lawsuit filed by a group of hair salon and restaurant owners against their insurance companies, which had said they were not responsible for losses during the pandemic, can proceed, setting up a showdown over who is responsible for what in the COVID-19 era.
  • Workplace Rivalries on the Rise

    By:
    Chris Gaetano
    |
    Aug 13, 2020
    A recent poll has found that people are feeling more competitive with their colleagues.
  • Jobless Claims Dip Below 1 Million for First Time Since March

    By:
    Chris Gaetano
    |
    Aug 13, 2020
    The U.S. Department of Labor reported that 963,000 more people applied for initial jobless benefits last week, the first time this figure has dipped below one million since March.
  • Key Wirecard Executive on Run From Law, Facing Massive Fraud Charges

    By:
    Chris Gaetano
    |
    Aug 13, 2020
    Have you seen Jan Marsalek, a former Wirecard executive who is said to have been a key architect of the now-defunct firm's multi-billion dollar revenue inflation? The Wall Street Journal said he is on the run from authorities, who have so far failed to located him in a worldwide search.
  • Market Rallies Translating Into Fewer Jobs

    By:
    Chris Gaetano
    |
    Aug 12, 2020
    With stock markets remaining at puzzlingly high levels, businesses are starting to turn furloughs into permanent layoffs as they believe they don't actually need these workers after all.
  • Chinese Firms Will Have Until 2022 to Comply With U.S. Accounting Standards

    By:
    Chris Gaetano
    |
    Aug 12, 2020
    Treasury Secretary Steven Mnuchin said that the Securities and Exchange Commission (SEC) will soon adopt a recommendation made by the White House that Chinese companies must comply with U.S. accounting rules, else be delisted from the country's exchanges.
  • Study Finds Many Commercial Tenants Oversold Ability to Make Payments

    By:
    Chris Gaetano
    |
    Aug 12, 2020
    A study recently published by the National Bureau of Economic Research said that many commercial property tenants overstated their financial positions before the pandemic, and are now suffering for it as the economy collapses around them.
  • Payroll Tax Deferral Causing Uncertainty Among Businesses

    By:
    Chris Gaetano
    |
    Aug 11, 2020
    The White House's recent executive order to defer the collection of payroll taxes has led to ucertainty and confusion on the part of business owners who are wondering how to respond.