Today is National One-Hit Wonder Day, and we’re celebrating by kung fu fighting and doing the Safety Dance. But enough tubthumping—we’ve got plenty of tax news to share.
$77 million is missing. Kevin Garnett has filed a federal malpractice lawsuit against an accountant and his firm, alleging they helped a wealth manager steal $77 million from the retired Minnesota Timberwolves and Boston Celtics star. [NBC Sports]
Charitable giving: how to save tax deductions despite new law. A feasible workaround for the new SALT deduction limitation? [Forbes]
Think you know your one-hit wonders? Take the REM Cycle quiz challenge here.
Dubai Department of Finance launches blockchain-based payment system for UAE government. The new platform, called “Payment Reconciliation and Settlement,” was officially launched Sunday, September 23. It is reportedly geared towards government entities, such as the Dubai Police, Roads and Transport Authority (RTA), Dubai Health Authority (DHA), and others. [Cointelegraph]
The Wake-Up Call is The REM Cycle’s biweekly compilation of newsworthy articles pertaining to taxation, accounting, and life in general. Got a hot tip? Email us at REMCycle@rem-co.com.