Bloomberg Industry Group

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Kanal • 4 Sendungen

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11.07.2025
Wirtschaftsnachrichten

Wirtschaftsnachrichten

Wöchentlich
Gesellschaft und Kultur

Gesellschaft und Kultur

6. Mai
Wirtschaftsnachrichten

Wirtschaftsnachrichten

Wöchentlich

6. Mai

Justice Transformed: When DOJ Norms Disappear

When Robert Jackson stood in the Great Hall of the Justice Department in 1940 and told the country's federal prosecutors that they held more power over life, liberty, and reputation than any other person in America, he was not describing a rule written into law. He was describing a creed. For the better part of a century, attorneys general from both parties invoked Jackson's words as a kind of shared oath. The principle was simple: no fear or favor, just the law. The catch was that almost none of it was codified. In President Trump's second term, he has broken traditional norms of independence by purging career staff, calling for the prosecution of his enemies, and challenging the judiciary. In the season premiere of UnCommon Law, host Matthew Schwartz traces those norms from their origins through their greatest tests — and asks whether the system that held through Watergate, the Clinton impeachment, and even the first Trump term was ever as durable as it seemed. In this episode and the ones ahead, we will explore: Allegations of selective prosecution — indictments of political adversaries, dropped cases against allies — and what the law actually permits. How the federal judiciary has responded, and what judges can and cannot do when the executive branch refuses to comply. A reckoning with the parts of the Justice Department that have been dismantled — the Civil Rights Division, the public integrity section, the career staff — and what their absence means in practice. Also, the stories of the prosecutors and lawyers who quit — and what they saw on the way out. Featuring: Stuart Gerson, former Assistant Attorney General for the Civil Division under President George H.W. Bush; co-founder of the Society for the Rule of Law Jed Shugerman, professor of law at Boston University School of Law Chris Strohm, senior reporter at Bloomberg News covering the Justice Department Ben Penn, senior reporter at Bloomberg Law covering the Justice Department *** CREDITS Host/Producer/Sound Design: Matthew S. Schwartz Editor/Executive Producer: Josh Block Cover Art: Jonathan Hurtarte Special Thanks: Ben Penn, Chris Strohm Thank You: Andrew Satter, Cesca Antonelli, Tom Taylor, Seth Stern

6. Mai

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27 Min.
15. Apr.

Corporate Tax Disclosures Let Investors Peer Into the Black Box

Investors are getting a lot more information about an area that’s been a mystery in the past: What goes into companies’ tax bills. The US, the European Union, and Australia all have new or forthcoming requirements for companies to publicly disclose more details about the makeup of their tax payments—especially where they’re paying. That can help investors compare companies and shed light on instances where multinationals might be locating their profits in lower-tax countries to cut their payments. The new requirements are already forcing companies like Meta Platforms Inc., Merck & Co. Inc., and Caterpillar Inc. to disclose that they’re making big tax payments in countries like Ireland and Switzerland that have long had a reputation as “tax havens.” Meta paid Ireland $567 million in income taxes last year, according to its first-ever disclosures as part of new US accounting requirements. Still, the different regions' rules differ significantly—in some ways they complement each other, but gaps in information remain. On this week's Talking Tax, Bloomberg Tax reporters Jorja Siemons and Michael Rapoport discuss the new sets of rules, how the new disclosures will play out, and how companies are responding to them and in some cases trying to get around them. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

15. Apr.

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12 Min.
11. März

Tax Filing Season Is Underway: Here's How It's Going So Far

There are about five weeks left in tax filing season — the busiest time of year for the IRS and tax preparers. IRS CEO Frank Bisignano told lawmakers earlier this month the tax season has so far been a success, with quick refund turnaround times and a shrinking backlog. That is despite a tumultuous 2025 for the agency, when the IRS lost about a quarter of its workforce to resignation offers, began implementing the GOP's new tax-and-spending law, and managed the fallout of the longest government shutdown in US history. Tom O'Saben, director of tax content and government relations at the National Association of Tax Professionals, said tax preparers also aren't hearing a ton of complaints from clients either. On this episode of Talking Tax, O'Saben joined Bloomberg Tax reporter Erin Slowey to discuss how filing season is going, the impact of changes from the 2025 law, and what to do if you don't have the money to pay taxes by the deadline. "Don't put your head in the sand and say 'I know I am going to owe so I am just not going to file,'" O'Saben said. "That's a bad idea." Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

11. März

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17 Min.
29.10.2024

California Explores Relaxing CPA Education Rules

California regulators are prepared to walk away from strict licensing rules that require accountants to earn the equivalent of five years of college to qualify. The California Board of Accountancy has proposed reforms that would grant the certified public accountant license to candidates with a traditional bachelor’s degree plus two years of work experience in addition to passing the CPA exam. The proposal would unwind current rules that call for 150 hours of college credits to qualify—a requirement that is seen as a barrier to entering the profession. Instead, the board's draft legislation would strip the specific number of college credits from its rulebook to focus on the degree earned or the candidate’s coursework. State lawmakers would have to approve any changes. Bloomberg Tax senior reporter Amanda Iacone spoke with Dominic Franzella, the executive officer of the state accountancy board, about how California's proposal matches up against related reforms the American Institute of CPAs introduced in September and whether the state’s plans could help address the shrinking pipeline of future accountants. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

29.10.2024

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19 Min.
12.02.2025

Companies Mull Gaps in Brazil's Transfer Pricing Rules

Brazilian taxpayers and practitioners continue to clamor for more guidance on the country's new transfer pricing regime implemented last year. The country switched from a mathematical model to an arm's-length principle for transfer pricing last year, bringing it in line with global standards. That pivot left a lot of questions for the Receita Federal, the country’s revenue authority, to answer through guidance, and it's been working to issue rules ever since. Most recently, Brazil issued instructions requiring extensive reporting and documentation of transactions involving commodities and how companies calculate their transfer pricing positions. Transfer pricing involves valuation of transactions between entities within a corporate group. Intragroup transactions must be conducted at arm’s length—priced similarly to transactions between unrelated companies. The country’s auditors are gearing up to enforce Brazil's new rules, sparking some concerns among practitioners that many new auditors will be learning on the job and that these early examinations won’t go smoothly. RSM US senior tax manager Nina Baumbach spoke with reporter Caleb Harshberger about the changes and what they mean for companies. She said companies need more guidance and clarity from the government on intangibles and other topics. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

12.02.2025

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11 Min.
15.08.2025

Pharmaceutical Companies Navigate Transfer Pricing as Tariffs Loom

Pharmaceutical companies are scrambling to respond to the Trump administration's tariff threats, seeking to mitigate duties on their products while keeping the impact on their tax bills to a minimum. The industry has long leveraged complex transfer pricing arrangements to cut down on its tax bills, but now the looming tariffs could spark a major rethink for where companies make their drugs and the location of their crown jewel: the intellectual property. Pharmaceuticals were exempt from the initial wave of tariffs announced earlier this year, but subsequent months have seen threats of heavy fines and taxes from the administration and a looming national security investigation, which could result in heavy duties on the industry. In this week's Talking Tax podcast, Cronus Consulting founder Nick Shipley talked with reporter Caleb Harshberger about how pharmaceutical companies are navigating the chaos, and what it could mean for their tax planning and operations. Shipley is a consultant for the pharmaceutical industry. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

15.08.2025

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19 Min.
19.03.2025

Tax Cuts, Credits Hang in Balance for NY Budget Talks

New York officials are in the final stage of the state’s budget process, following March 13 passage of the Assembly and Senate individual spending and revenue proposals for fiscal 2026. It's now up to a three-way negotiation between the Legislature's two chambers and Gov. Kathy Hochul (D), who has her own plans for a budget that’s likely to top $252 billion—including a host of tax changes that don’t completely align with what the Democratic-led lawmakers want. As in recent years, lawmakers have proposed raising taxes on the highest-income earners and corporations, which Hochul has rejected in the past. There are divergent approaches to how much to expand the state’s child tax credit. And the Senate wants to tailor the governor's idea of sending New Yorkers sales tax rebates—a salve to inflation—to just seniors rather than all taxpayers. Other issues include an expansion of New York's film tax credit program to benefit more independent movies and whether the Metropolitan Transportation Authority's funding needs will disrupt the various tax proposals. On this episode of Talking Tax, Bloomberg Tax state editor Benjamin Freed talks with New York correspondent Danielle Muoio Dunn and Bloomberg Government Albany correspondent Zach Williams about the budget process, the political stakes for Hochul ahead of her 2026 re-election campaign, and the odds that lawmakers wrap up the budget by their April 1 deadline—or at least the first night of Passover. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

19.03.2025

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18 Min.
10.07.2024

Accounting Leader Calls for CPA Training to Evolve

Training for CPAs must evolve to focus on the skills and experiences necessary to meet future market demands, the leader of the largest US accounting industry group said. Barry Melancon, president and CEO of the American Institute of CPAs, also defended a required fifth year of college for CPA candidates, saying current rules have achieved their purpose of elevating the role of accountants and turning out better-educated professionals. Melancon, who is preparing to retire in December, spoke to Bloomberg Tax reporter Amanda Iacone about ongoing efforts to restore what is now a shrinking pipeline of future accountants. Proposed reforms could soften the bite of the mandatory 150 college credit hours for CPAs to earn their license by offering alternatives such as employer-provided training or work-study programs. He also discussed the role artificial intelligence could play in closing the talent gap and the impact of private equity investors as CPA firms look to keep pace with technology advancements. —Produced by Matthew S. Schwartz. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

10.07.2024

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32 Min.
27.08.2025

KPMG Juggles AI Efficiency Gains With Long-Term Talent Strategy

Big Four accounting firms are racing to integrate next-generation AI technology across their service lines and develop a talent strategy to match the industry's new era. KPMG is focused on making sure it's balancing efficiency gains because of artificial intelligence with long-term workforce development, according to Sandy Torchia, vice chair of talent and culture at KPMG US. The firm has created new learning opportunities for workers to teach them how to use AI to enhance career growth, she said. Like its competitors, KPMG has rolled out new autonomous AI that can accomplish tasks with minimal human intervention. The industry's next generation is taking note. The vast majority of KPMG's US interns expect at least 20% of their work to be automated by AI by the time they start full-time positions, according to the firm's recent survey. Torchia, who is also head of people for KPMG's Americas region, recently stepped into a new role as global co-head of people for KPMG International. She spoke with Bloomberg Tax reporter Jorja Siemons about how KPMG is helping employees adapt to an AI-led future, as well as the state of hybrid work and the CPA pipeline. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

27.08.2025

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16 Min.
09.04.2025

Tariffs, Trump's Global Tax Snub Hit OECD Negotiations

The Trump administration's massive new tariff pronouncements, on top of its pullback from the OECD’s global tax deal, have cast doubt on the future of global tax policy efforts. The two-pillar OECD-led agreement seeks to create a 15% global minimum tax for large multinational corporations and change the way the companies allocate their profits among countries. While the US is still taking part in some negotiations, it has rejected key elements of the deal that it says infringe on US tax sovereignty. The administration has especially taken issue with the deal’s undertaxed profits rule, which countries can use to tax companies from other jurisdictions if they aren't paying the minimum tax there. And it has raised objections to countries' imposition of digital services taxes. On Wednesday, President Trump announced a 90-day pause on higher reciprocal tariffs that hit many US trade partners earlier in the day, and raised duties on China to 125%. The conflict could spark a reaction away from global tax policy negotiations and toward more bilateral, one-on-one dealings between countries as nations look to retaliate or cut a deal with the US. On this episode of Talking Tax, reporter Caleb Harshberger talks with PwC global tax policy leader Will Morris and Michael Plowgian, a partner at KPMG and former deputy assistant secretary for international affairs at the Treasury Department. They discuss the current state of negotiations, the complexity of numerous moving parts, and prospects for the US's ongoing role vis à vis the European Union and other nations. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

09.04.2025

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31 Min.

Bloomberg Industry Group is an affiliate of Bloomberg L.P. and a source of legal, tax, regulatory, and business information for professionals. We update this channel regularly with fresh podcasts about legal, tax, and government topics.

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Top-Sendungen

Justice Transformed: When DOJ Norms Disappear

Corporate Tax Disclosures Let Investors Peer Into the Black Box

Tax Filing Season Is Underway: Here's How It's Going So Far

California Explores Relaxing CPA Education Rules

Companies Mull Gaps in Brazil's Transfer Pricing Rules

Pharmaceutical Companies Navigate Transfer Pricing as Tariffs Loom

Tax Cuts, Credits Hang in Balance for NY Budget Talks

Accounting Leader Calls for CPA Training to Evolve

KPMG Juggles AI Efficiency Gains With Long-Term Talent Strategy

Tariffs, Trump's Global Tax Snub Hit OECD Negotiations

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