Weekly News Round Up: CEO Confidence Takes a Hit; Jobless Claims Still Strong; and New Tax Season and Scams
January 25, 2016
Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase audit, tax, and consulting news to keep you informed about the current stories and events impacting the accounting and business landscape – and ultimately your financial obligations.
This week, we highlight how CEO confidence has dipped due to the economic slowdown in China and slumping oil prices. In addition, tax season officially kicked off with many warnings about scams and malware threats. In addition, U.S. banks are confident about M&A activity in 2016.
CEO Confidence Takes Hit From China Slowdown
China’s economic slowdown and the global slump in oil prices is causing CEO confidence to dip, according to a new study.
Jobless Claims Still Show Strong Labor Market
New data shows an unexpected increase in the number of Americans filing for unemployment benefits but claims were still short of indicating any weakening in the labor market.
IRS Kicks Off Tax Season
The Internal Revenue Service launched the tax-filing season last week, promising better taxpayer and practitioner service, although a labor union official representing IRS employees warned there could still be problems.
Supreme Court to Hear Insider Trading Case
The U.S. Supreme Court has agreed to hear a California case that could clarify the legal standard for proving liability for insider trading.
IRS Advises Tax Preparers to Scan Their Computers for Malware
The Internal Revenue Service is urging all tax preparers to do a thorough security scan of their computer drives and devices in case there is any malware lurking.
Inspector General on “High Alert” for Tax Scams
The Treasury Inspector General for Tax Administration is urging taxpayers and practitioners to be on “high alert” about a massive telephone fraud scam being committed by criminals impersonating Internal Revenue Service employees.
Big Banks: Pace of M&A Deals Will Still Be Strong in 2016
Leaders of big U.S. banks say they’re optimistic that the torrid pace for deal-making set last year will continue in 2016 despite wild market swings.