Weekly News Round Up: New Presidential Threat Sharing EO; FASB and Consolidation Guidance; and Personal Finance Rules
February 23, 2015
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 a story about how President Obama has signed an Executive Order for enhancing threat information sharing. In addition, the IRS is doing a “limit test” of its Taxpayer Assistance Centers, and pharma M&A deals topped $200 billion in 2014.
New Bill Authorizes Security Threat Sharing
A new executive order from the President will allow the Department of Homeland Security to share classified info on business cyber threats.
IRS Begins Testing Appointments for Taxpayer Service
The Internal Revenue Service is testing 10 of its Taxpayer Assistance Centers to determine whether an appointment-based service approach at its walk-in centers might help reduce taxpayer wait times during a time of severe budget cuts at the agency.
FASB Updates Standard to Improve Consolidation Guidance for Legal Entities
The Financial Accounting Standards Board (FASB) has issued an accounting standards update to improve specific areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations and securitization structures.
Treasury Delays Enforcement of Standalone Health Reimbursement Arrangement Ban
The Treasury Department recently said that it would delay enforcement of an Affordable Care Act prohibition relating to standalone health reimbursement arrangements until July 1.
Pharma’s Top 10 M&A Deals of 2014
2014 was quite the banner year for pharma M&A. According to a recent report, deals topped $200 billion, well over twice the average volume from over the past decade.
The Most Important Personal Finance Rules Never Change
Lifehacker reminds us that the fundamental rules of personal finance never really change.