Tax Policy: Not boring anymore

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According to the New York Times, tax policy used to be fairly boring and predictable. But in the past decade, it has become dynamic in a way that tax advisers don’t like: It changes with the political party in power. Questions: According to the article, changes for tax advisers with the political party in power… Read more »

Dollar General Pays Employees to Get COVID vaccination

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to the Washington Post, Dollar General workers who get the COVID vaccine will be rewarded with four hours of pay. This makes the company one of the first major retailers to incentivize inoculations for its workforce. Questions: What is the base rate for Dollar General workers? What barrier does the company hope to break down… Read more »

A lookback at 2020

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One of the most read articles by the BV Wire in 2020 was one summarizing the thoughts on the impact of the crisis on valuations by the Business Valuation Update Editorial Advisory Board, in both the U.S. and around the globe. Questions: Edwina Tam, partner at Deloitte in Hong Kong, suggested that issues to be considered… Read more »

COVID Disclosures

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According to a new KPMG report, audit committees will have fuller plates than usual in the coming year as a result of managing agendas packed with new risk management responsibilities amid the fallout from the coronavirus pandemic and other crises of 2020 Questions How many issues has KPMG identified that audit committees will have to… Read more »

SEC goes after COVID disclosures

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According to Accounting Today, the U.S. Securities and Exchange Commission (SEC) said it has settled charges against Cheesecake Factory Inc. over “materially false and misleading” statements after the restaurant chain failed to disclose the financial impact of the coronavirus pandemic earlier this year. Questions: What was the penalty? According to SEC’s order, how much was… Read more »

Scamdemic

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According to the Department of Justice, three family members were arrested in New York for misrepresenting employee payroll figures to receive COVID-19 loan funds for a chain of family-owned nail salons. Questions: According to the report, how was the payroll misrepresented by this family? What federal organizations were involve in the identification of these fraudsters?… Read more »

AICPA fires back!

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The AICPA takes issue with Charles Rettig, IRS Commissioner, for penalizing taxpayers and businesses when the IRS is failing to process returns on time. Questions: Who is the Congressional member who entered the AICPA letter into the Congressional Record, regarding this issue? What is the aggregate backlog of mail at the IRS? Why isn’t the… Read more »

Wearable COVID Trackers: Business, Surveilance, or Both?

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According to the New York Times, sports leagues, large employers and colleges are turning to devices that could usher in more invasive forms of surveillance. Questions: What are the benefits of these devices? What are the costs of these devices? What fact in this article was the most interesting to you? How would you feel… Read more »

Sad Times at Landmark Hotels

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This time of year is usually when America’s luxury hotels are starting to prepare for busy holiday parties and New Year’s Eve festivities. Unfortunately, most of these luxury hotels have lost well over half their business and told most of their staff that they are not needed. Questions: According to the article, the hotel industry… Read more »

Remote Work has Consequences for Taxes

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According to the New York Times, if you decided to ride out the pandemic at your out-of-state vacation house or with your parents in the suburbs, you may be in for an unpleasant reality: a hefty tax bill. Questions: What are the rules if you work in one state and live in another? Is there… Read more »