Weekly News Round Up: House Passes Legislation to Limit IRS Powers; Bloomberg BNA Forecasts 2015 Tax Rates; and Tech M&A Activity Surges
September 22, 2014 - By: SC&H Group
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 how the House has passed legislation aimed at limiting the power of the IRS, and Bloomberg BNA is offering its 2015 tax rate forecast. In addition, a new study showed that technology M&A activity surged in Q2 of 2014.
House Passes Legislation to Limit IRS Powers
Last week, the House passed three pieces of legislation aimed at limiting the authority of the Internal Revenue Service in response to scandals involving the extra scrutiny given to political groups applying for tax-exempt status as social welfare organizations.
Bloomberg BNA Forecasts 2015 Tax Rates
Bloomberg BNA has given tax practitioners and taxpayers a head start on their 2015 tax year planning, releasing a detailed projection of inflation-adjusted tax items for next year.
Study Finds S&P 100 Companies Paying More Taxes
A new study found that S&P 100 companies were on average paying more in taxes last year than in 2012, although some are still paying extremely low rates.
Executives Still Make Big Decisions With Their Gut
Though the world is increasingly data-driven, most top executives still rely on instinct when making important decisions, according to a new study.
FASB Moves Closer to Intangible Assets Exception
The Financial Accounting Standards Board has taken another step toward exempting private companies from separately recognizing and measuring non-competition agreements and customer-related intangible assets that are not capable of being sold or licensed independently in a business combination.
Tech M&A Soars in the Second Quarter
M&A activity in the tech sector surged 57 percent in the second quarter of 2014 to $52.4 billion, according to a new report.