Weekly News Round Up: IRS Sued for Data Breach; CFOs Worried About Tax Reform Prospects; and Impact of China on U.S. M&A
August 31, 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 a class-action lawsuit has been filed against the IRS in the wake of its highly publicized data breach. In addition, a new study shows that CFOs are worried about tax reform prospects, and we have some interesting insights about the impact of China on U.S. M&A activity.
IRS Sued for Data Breach
A group of law firms has filed a class-action lawsuit against the Internal Revenue Service on behalf of an estimated 330,000 taxpayers who were affected by a data breach in the IRS’s online Get Transcript application.
CFOs Worried over Tax Reform Prospects and Economy
Congressional stalling on tax reform, currency fluctuations and mixed signals from the Federal Reserve on an interest-rate hike are making strategic planning difficult for CFOs, according to a new survey.
IRS Warns Obamacare Tax Credit Recipients
The Internal Revenue Service is sending letters to taxpayers who received advance payments of the premium tax credit in 2014, but who have not yet filed their tax returns.
Inflation In First Half of 2015 Lower Than Reported
Reports of the growth in consumer price inflation were somewhat overstated in the first two quarters, according to researchers at the Federal Reserve Bank of San Francisco.
What Will the CFO Role Look Like in 2020?
As business becomes even more global, regulated, competitive, and digital, CFOs can expect their role to continue to evolve, according to this recent CFO Magazine editorial.
“Black Monday” Stock Market Declines Unlikely To Affect Pace of M&A Activity
According to Forbes Magazine, the steep declines in global equity markets in China aren’t likely to have a major impact on the overall pace of deal making as we head towards 2016.