Weekly News Round Up: Health Plan Costs to Increase in 2016; IRS Program to Fight Tax Fraud; and Record Year for Chip Sector M&A
September 28, 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 a new study that points to potential health benefit cost increases in 2016. In addition, the IRS is launching a new program for fighting tax fraud and 2015 is a record year for M&A in the semiconductor industry.
Rise in Health Plan Costs to Continue in 2016
Employers expect another year of health benefit cost increases in 2016, but consumer-directed plans may be helping some companies moderate the increases, according to a new study.
IRS Testing New Program to Fight Tax Fraud
The Internal Revenue Service is testing a new Return Review Program to help identify instances of tax return fraud, but the security of the system needs improvement, according to a new government report.
AICPA Asks IRS to Equalize S Corp and C Corp Treatment of Worthless Stock Deductions
The AICPA has sent a comment letter to the IRS and the Treasury Department recommending that S corporations be entitled to the same tax deductions as C corporations when it comes to worthless stocks.
SEC Proposes Liquidity Rules for Mutual Funds and ETFs
The Securities and Exchange Commission has submitted a plan to require mutual funds and exchange-traded funds to develop programs to better manage their liquidity.
Auditor Changes in 2014 Matched 2013
Approximately 1,100 public companies changed their audit firms in 2014, almost the same as in 2013, according to a recent study.
2015 Already a Record Year for Chip Sector M&A
Merger and acquisition activity in the semiconductor industry has already set an annual record in 2015, more than doubling the amount of deal making from last year, according to this CNBC article.
12 Rules on Personal Finance
Time Magazine offers this entertaining take on the 12 rules of personal finance.