Weekly News Round Up: Financial Executives Boost in Pay; Supreme Court Ruling on Tax Courts; and M&A is Thriving in 2015
May 26, 2015
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 U.S. Supreme Court denied the President’s removal authority of tax court judges. In addition, the improving economy is boosting financial executives’ pay, and we find out why the M&A sector is thriving in 2015.
Supreme Court Denies Challenge to President’s Removal Authority Over Tax Court Judges
The Supreme Court declined to hear a case involving a couple who owed more than $22,000 in unpaid taxes to the Internal Revenue Service, lost their case in Tax Court and then argued that the Tax Court violated the U.S. Constitution.
FASB Issues Standard for Short-Term Insurance Contracts
The Financial Accounting Standards Board has released an accounting standards update that makes targeted improvements in the disclosure requirements for insurance companies that issue short-duration contracts of typically one year or less.
Improving Economy Boosting Finance Execs’ Pay
Financial executives of both public and private companies are continuing to get higher salaries as the economy improves, according to a new survey.
Oil Prices Fuel Stagnant U.S. Manufacturing Output
Manufacturing output was unexpectedly flat in April due to lower oil and gas prices and the stronger dollar, announced the Federal Reserve.
AICPA Urges Permanent Tax Relief for Natural Disaster Victims
The AICPA recently distributed the “Natural Disasters: The Case for Permanent Tax Relief” to Congress. The publication describes the history of disaster relief in the United States and the important role that tax relief plays for individuals and businesses in recovering from natural disasters.
Why M&A is Hot in 2015
CNBC recently ran a segment about why the M&A sector is hot this year.
10 Ways Recent Grads Waste Money
Forbes highlighted here the top 10 ways that recent college graduates waste their money.