Accounting & Tax
New Report Fuels Battle Over U.S. Tax Changes for Offshore Reinsurers
Insurers opposing a provision to limit U.S. tax deductions for premiums paid to offshore reinsurance affiliates got support last week from a critical report estimating that such a measure would strip ...
Female CFOs Less Aggressive on Tax Dodges: Study
Female chief financial officers at U.S. corporations are less likely to adopt high-risk tax-avoidance strategies than their male counterparts, according to a study by an accounting group. The chances ...
IRS Warns of FATCA-Related Phishing Scams
The Internal Revenue Service is warning that "scam artists" posing as members of the agency are using phone calls and faxes in an attempt to steal financial and account holder information from ...
Treasury Takes First Steps to Curb Tax Inversions
The U.S. Treasury Department announced steps that will make it harder for U.S. companies to move their addresses outside the country to reduce their taxes, clamping down on the practice known as ...
Treasury Concerned About Hedge Funds Using Bermuda Reinsurers to Skip Taxes
The U.S. Treasury Department said it's considering ways to end a "loophole" that allows hedge- fund managers to avoid taxes by routing their investments through an insurance company in low-tax ...
PwC Must Face $1B Lawsuit Related for Role in MF Global Collapse: Judge
A federal judge on Wednesday rejected PricewaterhouseCoopers' request to dismiss a $1 billion lawsuit accusing the auditor of providing bad accounting advice that contributed to the October 2011 ...
More U.S. Corps. Moving to Avoid U.S. Taxes: Congress Study
Seventy-six U.S. corporations have shifted their tax domiciles out of the United States to other countries since 1983 to avoid U.S. taxes, with a sharp increase recently in such deals, a policy ...
Troubled Tower Ends Relationship with PwC; Fitch Announces Downgrade, Rating Withdrawal
Tower Group International has fired PricewaterhouseCoopers as its accounting firm, six months after announcing it would restate previously filed financial statements for 2011 and 2012 due to ...