Weekly News Round Up: U.S. Productivity and Job Growth Up; Regulating Tax Preparers; and Tech M&A Update
December 7, 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 two new reports that show how U.S. worker productivity and job growth are on the rise. In addition, there’s a new bill on Capitol Hill aimed at regulating tax preparers, and there’s talk of an M&A slow down in the tech arena.
U.S. Productivity Up Slightly
U.S. worker productivity rose a little in the third quarter, as output and compensation grew at the same time workers put in fewer hours, according to the Department of Labor.
Job Growth Shows Biggest Jump in 5 Months
Private sector employers added 217,000 jobs last month, the largest increase in five months, according to a new study.
Congress Introduces New Bill to Regulate Tax Preparers
Republican lawmakers introduced legislation to require professional tax preparers to undergo examinations, take annual continuing education classes and submit to a background check.
Fed Changes Rule to Limit Emergency Lending
The U.S. Federal Reserve revised its rule on emergency lending to banks so the agency wouldn’t inadvertently favor certain big banks over others or bail out insolvent firms.
AICPA Comments on IRS Revisions to the Employee Plans Determination Letter Program
The AICPA submitted comments on the IRS Announcement 2015-19, which advises that the IRS should modify the Employee Plans Determination Letter Program.
SASB Offers Implementation Guide for Sustainability Standards
The Sustainability Accounting Standards Board released an implementation guide Tuesday to help public companies in the U.S. identify, understand and report on the sustainability topics most likely to be material to investors.
Tech M&A Reached Its Peak?
Bloomberg’s “Deal of the Week” segment examines whether or not the recent tech slowdown will signal a slump in mergers overall.