Weekly News Round Up: Obama Threatens to Veto $400 Billion Tax Break; Countering SEC’s CEO Pay-Rule Ratio; and Personal Debt Management
December 1, 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 President Obama’s potential veto of a $400 billion-plus tax break, as well as the GOP attempting to get the SEC to ditch the new CEO pay-ratio rule. In addition, we found a story about personal finance and debt management, and another on the new dependent exemptions for your Form 1040s this year.
Obama Threatens Veto of Emerging Tax-Break Agreement in Congress
President Barack Obama’s threatened veto of a $400 billion-plus tax-break bill exposed a widening fault line within the Democratic Party, according to this Bloomberg article.
GOP Leaders Urge SEC to Ditch Pay-Ratio Rule
Three top Republican lawmakers have made an attempt to get the U.S. Securities and Exchange Commission (SEC) to drop a new rule that would require public companies to disclose the ratio of CEO compensation to the median compensation of their employees.
IRS Has Millions of Dollars in Frozen Credit Accounts
The Internal Revenue Service needs to take action to resolve millions of dollars in so-called “frozen credit accounts” that are effectively in a state of limbo, preventing some taxpayers from receiving their tax refunds, according to a new government report.
How the IRS Will Let Taxpayers Share a Dependent Exemption
The exemptions for dependents that you claim on your Form 1040 provides a slightly better break this year, according to this AccountingWeb article.
New EDI App for QuickBooks Online
QuickBooks app developer B2BGateway has launched a new solution that lets QuickBooks Online users communicate with trading partners through electronic data interchange technology.
Personal Finance: What’s a Debt Management Plan?
USA Today is offering the following insights into personal debt management.