Securities


SECURITIES

The SEC responds to the financial markets’ urgent needs in the wake of the attack on the World Trade Center. For the first time, the agency uses its emergency powers to grant temporary relief from regulatory restrictions on certain activities including companies’ repurchase of their own securities, brokerage firms’ calculation of net capital, mutual funds’ borrowing from and lending to related parties and accountants’ provision of bookkeeping services to clients in the stricken area. ( www.sec.gov/news/press/2001-91.txt ; www.sec.gov/news/press/2001-97.txt )

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.