Backdating tax

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I hope this answers your question regarding back dating transactions in Quick Books.

Before SOX, we find evidence that some exercises were backdated to days with low stock prices.

These savings appear modest relative to the costs insiders and firms face.

We find that the likelihood of a suspect exercise increases in the likelihood of option grant backdating.

by Ami A reader asks about back dating transactions in Quick Books.

Hi Jennifer, I am not a trained accountant and am a little worried about using Quick Books. But perhaps the tax returns have not been filed yet; if so then this works in our favor.

Erickson appreciates financial support from the Graduate School of Business at the University of Chicago.

Not only could such a gift to businesses be looked down upon by American voters, but it would also complicate the GOP's plan to pass tax legislation through budget reconciliation, a process that requires only a simple majority in the Senate but brings with it limitations on adding to the deficit beyond the span of a decade.Consistent with a tax-based incentive, these suspect exercises are more likely when the personal tax savings from backdating are higher.However, suspect CEO exercises generate average (median) estimated tax savings of ,000 (,000).Taxpayers would likely applaud back-dated tax cuts. "Because Congress is generally reluctant to enact retroactive tax increases, it seems very unlikely to me that any of the pay-fors would be retroactive," said John Gimigliano, head of KPMG's tax legislative services group."The more likely scenario is that some of the tax benefits are retroactive, but that also costs money, potentially a lot of money.

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