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SEC conforms staff guidance to new FASB revenue recognition rules (Journal of Accountancy) - The SEC has issued a staff accounting bulletin to bring its existing guidance into conformity with FASBâs new revenue recognition standard. ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES IRS wins Tax Court ruling in captive insurance case (Accounting Today) - The Internal Revenue Service has prevailed in U.S. Tax Court in a case involving an Arizona jewelry store business that received a tax break by insuring itself for millions of dollars, in part against the risk of terrorism. Ask The Taxgirl: Deducting Fidget Spinners On Your Taxes (Forbes) - Taxpayer asks: My son has a problem paying attention and his doctor told me that I should buy him fidget spinners to help. Can I take this off on my taxes? 401(k)s Put Spotlight On Wealth Gap (Financial Advisor) - The way people use their workplace retirement plans may be contributing to the nation's wealth divide, a new survey indicates. How Wall Street Learned to Stop Worrying About the Debt and Love Tax Cuts (Bloomberg) - It was only about five years ago that powerful people in finance loved talking about the horrendous consequences for the U.S. if it didnât get its finances under control. Taxation Accounting/Audit | TOP 5 MOST READ TOOLS OF THE TRADE e-BREAKS  Eclipse highlights   |