January 2015 archive

Specialized Judges to Handle Complex Business / Commercial and Construction Litigation

Effective Jan. 1, 2015, the NJ Judiciary will be utilizing a Complex Business Litigation Program to address complex business, commercial and construction cases with damage calculations exceeding $200,000.  Cases with smaller damage calculations may otherwise qualify based on the complexity of legal or factual issues a large number of parties complex discovery issues, including large volumes of documents …

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New Option Available for Accounting for Intangible Assets

The Financial Accounting Standards Board has issued new rules pertaining to accounting by private companies for identifiable intangible assets in a business combination, based on a consensus of the Private Company Council. Accounting Standards Update No. 2014-18, Business Combinations (Topic 805), was issued in December 2014. Under the new rules, an eligible entity is no …

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Permanent link to this article: https://betweenthenumbers.net/2015/01/new-option-available-for-accounting-for-intangible-assets/

IRS Continues to Overpay Billions on the EITC

In accordance with Executive Order 13520, Reducing Improper Payments and Eliminating Waste in Federal Programs, Federal agencies are accountable for reducing improper payments while still providing access to beneficiaries.  The IRS estimates that the participation rate under the Earned Income Tax Credit (EITC) was nearly 80 percent, but this comes at a high cost.  A recent …

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Permanent link to this article: https://betweenthenumbers.net/2015/01/irs-continues-to-overpay-billions-on-the-eitc/