Suspension of Automated Notices

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Behavioral and Social Issues Related to Accounting, Income Taxes, Managerial Accounting, Uncategorized.

According to Accounting Today, the IRS will suspend more than a dozen automated letters it sends out to taxpayers, including collection notices, balance due notices and unfiled tax return notices, until it catches up on its backlog of unprocessed returns. Questions: Why is it doing this? A coalition of tax professionals was instrument in promoting… Read more »

Striketober

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According to the Washington Post, Striketober is upon us, with factory workers, nurses and school bus drivers among the thousands of Americans who walked off jobs in October. Questions: According to the article, what are some of the reasons for so much striking? Is there any linkage between the “Great Resignation” and the increased striking?… Read more »

The New Retirement Model

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According to the Washington Post, well-off Americans retiring early while balancing the economy with health concerns and drawing on federal stimulus funds, market gains, and equity from skyrocketing home values. Questions: What unusual trend is happening along with the early retirement course? When does Social Security allows most people to enroll for retirement payments? According… Read more »

Lufthansa to Pay Back Bailout

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Deutsche Lufthansa AG plans to raise 2.14 billion euros ($2.5 billion) through a heavily discounted share sale as it strives to repay a German government coronavirus bailout. Questions: How will the airline group raise the money to repay this bailout? What does Lufthansa avoid with full repayment? What are the expectation of the airline for… Read more »

The Coronavirus Testing Procurement Audit

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According to the Washington Post, according to a Maryland state audit, procurement regulations where not followed when the Maryland administration bought 500,000 COVID-19 tests from a South Korean company last year and the first batch of tests that later had to be replaced for an additional $2.5 million was not authorized by the U.S. Food… Read more »

Ransomware Update

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According to Techrepublic.com, cybercriminals have attacked hospitals and other healthcare organizations with double-extortion ransomware attacks during the COVID pandemic. Questions: What is a double-extortion ransomware attack and how many different ransomware variants are now using the double-extortion plot? Why are cybercriminals focusing on hospitals and other healthcare organizations with these even bolder types of attacks?… Read more »

Is the Power of Boredom Reshaping our Economy?

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According to the New York Times, due to the pandemic, tedium is reshaping what people buy and how productive they are. Questions: What are some of the economic consequences of the pandemic that are noted in the article? The author of this article describes the pandemic as producing a collective sense of ennui. Define the… Read more »

Slippery Slope or A Good Option for Turbulent Times?

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According to the Washington Post, shoppers who use pay-later options tend to spend more and buy more frequently than those who do not. Questions: How much are these buy-now, pay-later services going to grow by 2025? What national chains now have bi-weekly arrangements with customers for everyday purchases? Why are consumer protection experts warning against… Read more »

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 »