Weekly News Round Up: Government Disclosure on Tax Deductions; Bill to Derail Tax Inversions; and Risk Management Costs Up, Slightly
August 11, 2014
Welcome to the Weekly News Round Up from the SC&H Group blog. Each week, we showcase a series of news stories that span everything from government contracting to personal finance to state and local tax issues.
This week, we have compiled stories about federal tax incentives not impacting Capex growth, how the IRS is offering more incentives for whistleblowers, and private companies planning on increasing capital spending.
Accounting Rule Makers Diverge on Lease Expensing
U.S. and international accounting rule makers are getting closer to a final version of their long-awaited lease accounting overhaul, but the two boards are unlikely to use the same lease expensing model in their final rules.
Federal Tax Incentives Don’t Affect Capex
Senior finance and tax executives don’t think that the expiration of two lucrative federal tax incentives at the end of 2013 will cause their companies to cut capital expenditures by the end of 2014, according to a new study.
Private Companies Plan to Increase Capital Spending
More than a third of private company CEOs and CFOs plan to increase their capital spending in the coming year, the highest percentage in over two years, according to a new report.
Executive Order: Federal Contractors Must Disclose Labor Law Violations
President Barack Obama signed an executive order that requires prospective federal contractors to disclose labor law violations, and gives agencies more guidance on how to consider labor violations when awarding federal contracts.
IRS Offers More Incentives for Tax Whistleblowers
The Internal Revenue Service has expanded its awards to whistleblowers, allowing tipsters to claim a potentially greater share of the proceeds the IRS collects on extra tax revenue.
Accounting Tops List of Most Profitable Industries
Accounting, tax preparation, bookkeeping and payroll services are collectively amongst the most profitable industries, according to a new study.
Worker Productivity on the Rise
The Labor Department issued a report showing that U.S. worker productivity rose in the second quarter, beating previous estimates.