February 2011 archive

Bear Stearns’ Defendants and Deloitte Face Significant Exposure

In a nearly 400-page opinion in January, a Manhattan federal judge (Robert Sweet) denied motions to dismiss a securities class action against Bear Stearns, Deloitte & Touche, and seven individual defendants.  As one might imagine from its length, the Court thoroughly addresses the allegations, and rebutted the defendants’ reasons for dismissal.   Here is a background …

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Food Price Inflation a Root Cause of Civil Unrest in Poorer Countries

On Thursday, February 3, the Food and Agriculture Organization of the United Nations (FAO) released its January 2011 FAO Food price Index.  The index clearly shows the challenge faced by some of the world’s poorer countries, where food represents a larger percentage of disposable income.  The index is now at the highest level (both in …

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Permanent link to this article: http://betweenthenumbers.net/2011/02/food-price-inflation-a-root-cause-of-civil-unrest-in-poorer-countries/

2010 Tax Changes

It’s that time of the year again.  Many of you have already received or will be receiving your year-end tax statements.  The following are some changes in the tax rules for 2010:  Due Date  This year, the due date for Form 1040 is Monday, April 18th.  The reason is that April 15th is Emancipation Day …

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Permanent link to this article: http://betweenthenumbers.net/2011/02/2010-tax-changes/

California Takes Another Try at an 'Amazon Tax'

California is attempting to improve its ability to tax Internet sales originating outside the state.  California recently introduced two bills that attempt to solve the jurisdiction challenge that has prevented  prior taxation.  In this article involving Internet taxation, we review (i) the basis for establishing a taxation nexus, and (ii) the Streamlined Sales and Use Tax Agreement …

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Permanent link to this article: http://betweenthenumbers.net/2011/02/california-takes-another-try-at-an-amazon-tax-2/

California Takes Another Try at an ‘Amazon Tax’

California is attempting to improve its ability to tax Internet sales originating outside the state.  California recently introduced two bills that attempt to solve the jurisdiction challenge that has prevented  prior taxation.  In this article involving Internet taxation, we review (i) the basis for establishing a taxation nexus, and (ii) the Streamlined Sales and Use Tax Agreement …

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Permanent link to this article: http://betweenthenumbers.net/2011/02/california-takes-another-try-at-an-amazon-tax/

SEC Staff Report Suggests a Unified Fiduciary Standard

The staff of the Securities and Exchange Commission (SEC) issued a report required by Section 913 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.  It recommends significant changes regarding how broker/dealers transact business with their retail investment customers.  Investment advisors and security broker/dealers are both highly regulated.  But their regulations are quite different.  …

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Permanent link to this article: http://betweenthenumbers.net/2011/02/sec-staff-report-suggests-a-unified-fiduciary-standard/

New Federal Restrictions on Health Insurance From an Unexpected Source

This entry involves primarily the tax code.  Here is an interesting example of how the Internal Revenue Code gets made ever more complicated, including by legislators who say they do not want such complication.   My earlier blog post provides my suggestions on a simpler and better tax system. One of the earliest pieces of legislation in the new congress …

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Permanent link to this article: http://betweenthenumbers.net/2011/02/new-federal-restrictions-on-health-insurance-from-an-unexpected-source/