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SEC taps new chief accountant

Accounting Today

EDT 2 Min Read Facebook Twitter LinkedIn Email The Securities and Exchange Commission headquarters in Washington, D.C. Joshua Roberts/Bloomberg The Securities and Exchange Commission appointed Kurt Hohl, a former partner at Ernst & Young, as its new chief accountant, effective July 7. All rights reserved.

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Mississippi, Texas storm victims get tax relief

Accounting Today

All rights reserved. In Texas, where storms and flooding began on March 26, individuals and households that reside or have a business in Cameron, Hidalgo, Starr and Willacy Counties qualify for relief.

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The Ripple Effect of Tariffs: Inventory, Pricing and Financial Statements

Withum

For importers of raw materials or finished goods, Accounting Standards Codification (ASC) 330: Inventory requires that all costs necessary to bring a product to its saleable state should be classified as inventory. Are Tariffs Considered Inventoriable Costs?

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In the blogs: Answer unclear; ask again later

Accounting Today

Stated bluntly Withum ( [link] ): Washington Gov. All rights reserved. Tax Talk: ( [link] ): If the expatriation regime applies to a denaturalized citizen, it imposes an exit tax through a deemed sale of worldwide assets, as well as a 40% transfer tax on gifts or inheritances received by U.S. Both aim to fill a large gap in the states budget.

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Tax Fraud Blotter: Getting personal

Accounting Today

Washington City, Utah: Business owner Phyllip Hallman Heaton has been sentenced to five months in prison and 18 months of supervised release (including six months of home detention) after not paying taxes for six years. All rights reserved.

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On the move: RRBB adds partner

Accounting Today

CONNECTICUT FASB, GASB and FAF logos on the wall at headquarters in Norwalk, Connecticut Courtesy of GASB The Financial Accounting Foundation board of trustees announced it is seeking nominations for new members to join the Financial Accounting Standards Advisory Council for an initial one-year term beginning Jan.

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Tax Fraud Blotter: Prep perps

Accounting Today

Washington, D.C.: Trifilo worked in compliance for several large accounting and finance firms and recently was managing director at a tax firm where he specialized in transaction structuring and advisory service, tax compliance and tax due diligence. All rights reserved.

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