Weekly News Round Up: Fed Raises Interest Rate; New Malware Threat; and Maryland Bestows Medical Marijuana Licenses
December 19, 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 the Fed raised interest rates for the first time in a year, and new legislation would increase the U.S. retirement age to 69. In addition, there’s a new malware threat, and the state of Maryland named the companies that have received preliminary authorization to sell medical marijuana.
Fed Raises Benchmark Interest Rate by 0.25 Percent
The U.S. Federal Reserve raised interest rates for the first time in a year and also indicated it would quicken the pace of further increases in the coming years.
Top 10 CFO Risks for 2017
From the Brexit vote to the Presidential election, CFOs are facing a high-level of uncertainty as we head into 2017.
New Legislation Would Raise Retirement Age to 69
The chairman of the House Ways and Means Social Security Subcommittee, Rep. Sam Johnson, R-Texas, has introduced legislation to make changes in Social Security, including raising the retirement age to 69.
Tax Filing Season Officially Begins on January 23rd
The IRS recently announced that it will start accepting federal income tax returns on Monday, January 23, 2017.
IRS Lowers Mileage Rates for 2017
The Internal Revenue Service has issued the 2017 optional standard mileage rates to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
New Malware Lets You Infect Others to Save Yourself
There’s a new computer virus out there called Popcorn Time, which allows the victims to start infecting their friends.
Maryland Names 102 Companies to Open Medical Marijuana Dispensaries
Maryland officials recently announced the 102 businesses that have received preliminary authorization to sell the state’s first legal medical marijuana, bringing the long-awaited program a step closer to fruition.