Weekly News Round Up: Senate Approves Budget Deal; Best and Worst State Tax Administration; and M&A to Rise in 2014
December 23, 2013
Welcome to the Weekly News Round Up from the SC&H blog. Each week, we will be showcasing 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 the Senate’s approval of the new government spending plan, how the SEC plans to reform public company disclosures, and states with the best and worst tax administration.
Senate Approves Budget, Sends to Obama
Congress has passed a government-spending plan without resorting to last-minute brinkmanship such as midnight negotiations to prevent an imminent government shutdown.
SEC Plans to Reform Public Company Disclosures
The Securities and Exchange Commission issued a staff report to Congress on its disclosure rules for U.S. public companies as part of the SEC’s efforts to modernize the disclosure requirements and reduce compliance costs for emerging growth companies.
Report Ranks States with Best and Worst Tax Administration
A new study by the Council on State Taxation compares states’ tax appeals processes and procedural requirements.
Why Congress Must Unshackle the R&D Tax Credit
If the R&D tax credit were made permanent, companies could accurately budget for future R&D spend, according to CFO.com.
2013 IPOs Raise a Mountain of Cash
It was a banner year for initial public offerings, as 222 companies tapped the equity markets for the first time, raising more than $59 billion.
Benefits Questioned in Tax Breaks for Nonprofit Hospitals
The billions of dollars in tax breaks granted to the nation’s nonprofit hospitals are being challenged by regulators and politicians as cities still reeling from the recession watch cash-rich medical centers expand.
Align Your Controls With COSO’s Principles
A mapping exercise is one of the most important activities for any organization implementing the updated 2013 internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), experts say. Be sure to check out the SC&H COSO Framework Assessment here.
M&A Expected to Pick Up in 2014
The coming year is shaping up to bring moderately higher M&A activity, generating more opportunity for sellers to exit their businesses and perhaps get a better price than they could a year or two ago.