Weekly News Round Up: Government Disclosure on Tax Deductions; Bill to Derail Tax Inversions; and Risk Management Costs Up, Slightly
August 4, 2014
Welcome to the Weekly News Round Up from the SC&H 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 a bill that requires federal agencies to disclose tax deductions in settlements with corporations. In addition, there is a new bill aimed at derailing tax inversions, and the average total cost of risk has gone up for many corporations.
Bill Advances Requiring Government to Disclose Tax Deductions in Settlements with Corporations
A bill requiring government agencies to disclose how much companies would be able to claim in tax credits and other benefits when they reach settlements with enforcement agencies has passed a key committee.
Senator Proposes Bill to Derail Tax Inversions
In a measure aimed to punish companies that are moving overseas to pay lower taxes, Senator Dick Durbin says he plans to unveil a bill that would ban federal contracts for businesses that engage in tax inversions.
Finance Pros Sees Risks Ahead Amid Recovery
Financial professionals see some remaining threats to long-term economic stability in parts of the world and believe the recovery may be limited to a few islands of financial stability, according to a new survey.
Risk Management Costs Up Slightly
For the third consecutive year, the average total cost of risk (TCOR), which measures how much companies spend on property, casualty and workers’ compensation risk management and insurance, trended higher, according to a new study.
Private Sector Added 218,000 Jobs in July
Private sector employers added 218,000 jobs in July in a further sign of the rebounding economy, although the pace of job growth slackened from last month, according to a new report.
3 Totally Common Financial Tips You Should Probably Ignore
Here’s an interesting take on common financial advice that should actually be ignored.