Weekly News Round Up: Jobless Claims at 43-Year Low; AICPA Outlines Tax Reform Policies; and Personal Finance Myths
November 28, 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 number of U.S. jobless claims fell to a 43-year low, and the AICPA is offering a list of tax reform priorities for the new Trump administration. In addition, don’t believe everything you think about personal finance planning.
Jobless Claims Fall to 43-Year Low
The number of Americans making initial claims for state unemployment benefits fell sharply to a 43-year low last week as the labor market continued to strengthen.
Report Sees Faults in Fed’s Bank Stress Tests
The effectiveness of the U.S. Federal Reserve’s stress tests for the largest U.S. bank holding companies is limited by, among other things, a lack of transparency, according to a government watchdog.
SEC Approves New Markets Oversight System
An effort to improve oversight of U.S. equity and options markets took a major step forward as the U.S. Securities and Exchange Commission approved the $2.4 billion consolidated audit trail (CAT) system.
AICPA Outlines Tax Reform Priorities
In the aftermath of Donald Trump’s election, the American Institute of CPAs has drawn up a list of tax reform priorities for the incoming administration.
Obama White-Collar Overtime Pay Mandate Blocked by Judge
A federal judge threw out an Obama administration policy that would have given more white-collar workers overtime.
IRS Seeks Information on Bitcoin Users from Coinbase
The Internal Revenue Service is looking for information on bitcoin users from Coinbase, one of the largest bitcoin exchanges in the U.S., as part of its efforts to uncover possible tax evasion.
8 Urban Myths of Personal Finance
According to this recent Kiplinger article, don’t believe everything you hear about your money.