Monthly Archives: September 2011

Goodwill Impairment Tests Become Easier

September 2011 In September 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2011-08, entitled “Testing Goodwill for Impairment”.  This amends guidance in Generally Accepted Accounting Principles (GAAP) Topic 350 involving goodwill and other intangible assets.  Because early adoption is allowed, and the new guidance significantly simplifies the current procedures, expect the new [...]

2019-02-28T12:45:09-08:00Tax Advice & News|
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Audit Report Discloses $4.2 Billion Annually Is Paid To Illegal Aliens Through A Refundable Tax Credit, With Practically No Offsetting Tax Revenues

September 2011 Undocumented workers in the United States received refundable tax credits totaling $4.2 billion in 2010, an amount which is dramatically higher than occurred previously.  An audit by the Treasury Inspector General for Tax Administration recommended changes in how these payments are made.   The IRS dismissed the recommendations, saying (without support) that they did [...]

2019-02-28T12:48:53-08:00Current Events, Other|
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