Top Accounting News – 3/19/18

Top Accounting News This Week

Top Accounting News – 3/19/18

Here is this weeks round up of top accounting news:

Is Wall Street headed for another crash?

Industry expert, William Cohen fears that history is bound to repeat itself due to the lack of significant changes post the 2008 collapse.  See what may be in store for Bear Stearns.

iHeartMedia files for Bankruptcy

Once America’s largest radio station, iHeartMedia has now filed for bankruptcy.  Read about their deal to reduce debt by $10 billion amidst stock plummets.

U.S. Treasury Department Speak out against the OECD’s latest report calling attention to digital companies

The U.S. treasury department made it clear that while they intent to address concerns of an international market, they would not target digital companies. According the U.S. Department of Treasury, creating additional tax burden to companies considered “digital enterprises” would hurt the overall economy as well as growth opportunities.  Read full article.

A New Identity Theft Tactic affecting Tax Professionals

A warning was issued at the Security Summit to tax professionals advising their tax preparer numbers, EFIN, and CAF numbers were the newest target for cybercriminals. Apparently, this information is being used to access company tax and financial reports and even file falsified reports.

 

  1. https://www.cnbc.com/2018/03/16/cohan-why-bear-stearns-could-absolutely-happen-again-on-wall-street.html
  2. https://www.nytimes.com/2018/03/15/business/media/iheartmedia-bankruptcy.html
  3. https://www.accountingtoday.com/news/us-opposes-oecd-move-to-tax-digital-economy
  4. https://www.accountingtoday.com/news/cybercriminals-trading-tax-pro-id-numbers-on-the-dark-web

 

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