Weekly News Round Up: Fed May Raise Interest Rates; Republicans and Tax Reform; and Top Three Personal Finance Urban Myths

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 have a story about how the Federal Reserve may raise interest rates for the first time in seven years. In addition, Republican leaders want the Treasury Secretary to avoid pursuing an executive action by President Obama on tax reform.

Fed Signals It May Increase Interest Rates by Midyear

The Federal Reserve is on the verge of raising interest rates for the first time since the economy fell into recession more than seven years ago.

Republicans Warn Against Executive Action on Tax Reform

The Republican leaders of Congress’ two main tax committees have written a letter to Treasury Secretary Jacob Lew urging him to avoid pursuing an executive action by President Obama on tax reform.

Investors Want More Disclosure on Director Qualifications

More than three-quarters of institutional investors believe companies are not doing a good job of explaining why their directors are the right people for the job, according to a new study.

Shareholder Participation Improves Financial Reporting Quality

Fewer restrictions on shareholder participation correlate with a relatively low incidence of accounting restatements, according to a new study.

AICPA Sends Tax Proposals to Congress

The AICPA recently sent top tax lawmakers on Capitol Hill a package of 34 legislative proposals that the AICPA believes promote simplicity and fairness in the tax code.

Manufacturing Output Dips

The slowing of economic growth in the first quarter was reflected in the third straight month of lower manufacturing output and lower homebuilder sentiment.

3 Biggest Urban Myths of Personal Finance

Kiplinger is debunking three very common personal finance planning urban myths.