It's Official: President Obama Finally Signs Form 1099 Repeal Legislation


By Ron Kramer

On April 14, President Obama signed the Comprehensive 1099 Taxpayer Protection and Replacement of Exchange Subsidy Overpayments Act of 2011 (HR 4). Congress ... read more >

The Fed's Dual Mandate: Time for a Change?

There appears to be an inherent tension within the U.S. Federal Reserve Bank’s (Fed) dual mandate of price stability and full employment. Some inflation ... read more >

President Obama Outlines His New Deficit-Reduction Plan


By Ron Kramer

In a speech today at George Washington University, President Obama outlined his plan to trim $4 trillion from the federal budget. Obama termed his budget ... read more >

Business Transaction Costs - The IRS Provides a Safe Harbor for Success-Based Fees


By Martin DiGiovine

On April 8, 2011, the Internal Revenue Service (IRS) issued Revenue Procedure 2011-29, providing a safe harbor election for allocating success based fees ... read more >

Update on FASB's Exposure Draft for Disclosing Loss Contingencies


By Andrew DiLuciano

The Financial Accounting Standards Board’s (FASB) proposed accounting standards update relating to loss contingencies has somewhat fallen off the ... read more >

IRS To Accept Tax Returns During a Government Shutdown


By Martin DiGiovine

In the event of a government shutdown on Friday, April 8, 2011, IRS Commissioner Douglas H. Shulman has announced that the IRS will continue to accept ... read more >

The IASB and FASB Discussion Revenue Recognition...Again


By Todd Lucas

The IASB and FASB met March 21 to 23, 2011 to further discuss joint projects that they are undertaking. The primarily focus of the meeting was to discuss ... read more >

Corporate Espionage and Cyber Threats

Recently, the cybersecurity firm McAfee Inc. issued a whitepaper titled Global Energy Cyberattacks: “Night Dragon,” in which they outlined ... read more >

IRS Declares Japan Earthquake and Tsunami a Qualified Disaster

On April 5, 2011, the Internal Revenue Service (IRS) issued Notice 2011-32 designating the Japan earthquake and tsunami as a qualified disaster for purposes ... read more >

Congress Finally Repeals Much Maligned 1099 Reporting Requirements


By Martin DiGiovine

On April 5, the United States Senate, by an 87-12 margin, passed H.R. 4, repealing the onerous 1099 reporting requirements contained in the Patient Protection ... read more >