Mar 23

GAO Reports Worsening Improper Payments

The Government Accountability Office (“GAO”) recently published a summary of the testimony of US Comptroller General Gene L. Dodaro regarding government efficiency and effectiveness.  The GAO reports annually to Congress on federal programs, agencies, offices, and initiatives (both within departments and government-wide) that are fragmented, overlapping, or duplicative.  It also identifies opportunities for cost savings …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/gao-reports-worsening-improper-payments/

Mar 20

Costs Excluded From Prejudgment Interest Calculation In Personal Injury Award

Prejudgment interest is often applied to a personal injury award in an attempt to capture the lost value of the use of monies prior to the judgment date.  A recent case, Bean v. Pacific Coast Elevator Corporation (“Pacific Coast”), has addressed whether costs awarded to a plaintiff in addition to damages are also subject to prejudgment interest.  …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/costs-excluded-from-prejudgment-interest-calculation-in-personal-injury-award/

Mar 17

Good Deed Performed Too Early for SOX Award

The US Court of Appeals for the Second District has held that the Securities and Exchange Commission (“SEC”) was within its rights to deny a whistleblower award to Larry Stryker under Section 21F of the Dodd-Frank Act (“Dodd-Frank”), 15 U.S.C. § 78u-6. From 2004-2009, Mr. Stryker submitted information to the SEC regarding alleged wrongdoing by Advanced …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/good-deed-performed-too-early-for-sox-award/

Mar 13

Golf Channel May Lose Millions in Stanford Ponzi Clawback

The Ponzi scheme orchestrated by R. Allen Stanford is among the most notable of our time and the Golf Channel might find itself among its extensive list of victims.  The Fifth Circuit has given the go-ahead for the receiver to pursue $6 million of advertising fees paid by Stanford to the Golf Channel.  The basis …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/golf-channel-may-lose-millions-in-stanford-ponzi-clawback/

Mar 10

DWP audit finds LA lost hundreds of millions

A recent audit of DWP billings following problems with its new billing system revealed that over $680 million was lost due to faulty billings.  The massive revenue impact is further exacerbated by the fact that the system cost $70 million to originally implement, followed by over $40 million spent so far on efforts to address …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/dwp-audit-finds-la-lost-hundreds-of-millions/

Mar 07

Business Audit Rate Will Move Even Lower

With its budget continuing to shrink, the IRS is looking at even lower audit rates for the coming tax season.  The number of agents is current at under 12,000, the lowest number in the last decade. This related article provides additional info on IRS audit rates.

Permanent link to this article: http://betweenthenumbers.net/2015/03/business-audit-rate-will-move-even-lower/

Mar 03

A second shot at an end to pre-dispute mandatory arbitration clauses with brokers

Legislation that would free investors from the requirement to engage in pre-dispute mandatory arbitration with their brokers is getting a second life.  Congressman Keith Ellison, D-Minn, has once again introduced the bill to Congress, with the following findings: “(1) Investor confidence in fair and equitable recourse is essential to the health and stability of the securities …

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Permanent link to this article: http://betweenthenumbers.net/2015/03/a-second-shot-at-an-end-to-pre-dispute-mandatory-arbitration-clauses-with-brokers/

Mar 02

Anti-poaching settlement approved at $425 million

U.S. District Judge Lucy H. Koh has blessed a $415 million settlement in the antitrust class action suit against Apple Inc., Google Inc. and others.  The defendants were accused of illegally agreeing not to poach each other’s software engineers.  A prior settlement deal at $325 million was rejected by the Court as insufficient.

Permanent link to this article: http://betweenthenumbers.net/2015/03/anti-poaching-settlement-approved-at-425-million/

Feb 24

FBI Business Email Compromise Alert

The FBI has issued a warning for increasing levels of a type of fraud known as “business email compromises” that target companies that regularly wire funds to foreign third parties.  In this scheme, an accounting officer is targeted with an email that appears to be originating from a company executive.  In fact, upon closer inspection …

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Permanent link to this article: http://betweenthenumbers.net/2015/02/fbi-business-email-compromise-alert/

Feb 20

Government Typo Will Require Certain Taxpayers to Delay Filing

Recently the government sent out Form 1095-A to Obamacare participants. However it appears that an error reported in the forms mailed out will need to be corrected.  As a result, affected taxpayers are requested to wait until they get corrected forms before filing.  The blog at healthcare.gov reads: “If you enrolled in a plan through …

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Permanent link to this article: http://betweenthenumbers.net/2015/02/government-typo-will-require-certain-taxpayer-to-delay-filing/

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