Weekly News Round Up: Surviving the Tax Season; 10 Percent of S&P Companies Not Paying Taxes; and Risk Management Lifts Profit Margins
April 20, 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 Internal Revenue Service (IRS) commissioner sent a message of thanks to tax pros for surviving this year’s tax season. In addition, a study shows that tax directors expect their companies to expand this year, and a new report states that many companies are ready to make acquisitions.
IRS Commissioner Thanks Tax Pros for Surviving Tax Season
The IRS Commissioner John Koskinen has sent a message of thanks to tax professionals and their partners for managing to get through a “challenging” tax season.
How 10 Percent of S&P Companies Opted Out of Paying U.S. Taxes
Fueled by a wave of inversions, 54 companies in the Standard & Poor’s 500 Index of leading U.S. firms are now at least partially exempt from paying corporate income tax.
Tax Directors Expect Their Companies to Expand
Tax directors at many organizations anticipate their companies will grow by entering into new domestic and international markets in the years ahead, according to a new survey.
U.S. Companies Hungry for Midsize Deals
A new survey finds that a majority of U.S. firms plan to execute a merger or acquisition transaction in the next 12 months.
Robust Risk Management May Lift Margins
Companies with the most developed and proactive approaches to risk management were more likely to have increasing profit margins, according to a new study.
IESBA Strengthens Auditor Independence Rules
The International Ethics Standards Board for Accountants has revised its ethics code to improve the independence provisions for auditors.