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Michael Saylor - 1 Saylor - 1 MicroStrategy’s - 1 MicroStrategy - 1 “ Michael Saylor - 1 ” Brian L - 1
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District of Columbia - 1 New York Times - 1 Mr - 1 MicroStrategy - 1

Search resuls for: "MicroStrategy’s"


2 mentions found


☆ MicroStrategy and Its Founder to Pay $40 Million in Tax Fraud Lawsuit
  + stars: | 2024-06-03 | by ( Lauren Hirsch | ) www.nytimes.com   time to read: +1 min
The attorney general for the District of Columbia reached a $40 million settlement with Michael Saylor and the software company he founded, MicroStrategy, in what the attorney general’s office said was the largest income tax fraud recovery in Washington history, The New York Times has learned. The settlement, which is expected to be announced on Monday, stems from lawsuits filed in 2021 and 2022 accusing Mr. Saylor of evading more than $25 million in income taxes in Washington. MicroStrategy and Mr. Saylor deny any wrongdoing. They agreed to the $40 million settlement, which included interest and penalties, to avoid the expense and time of further legal action, according to the settlement, which The Times has reviewed. Mr. Saylor, who is the executive chairman of MicroStrategy, stepped down as chief executive in 2022.
Persons: Michael Saylor, Saylor, MicroStrategy’s, MicroStrategy, “ Michael Saylor, ” Brian L Organizations: District of Columbia, New York Times, Mr, MicroStrategy Locations: Washington, Virginia, Florida
☆ FASB Settles on Fair-Value Accounting for Measuring Crypto Assets
  + stars: | 2022-10-12 | by ( Jennifer Williams-Alvarez | ) www.wsj.com   time to read: +4 min
The Financial Accounting Standards Board on Wednesday said companies should use fair-value accounting for measuring bitcoin and other crypto assets, moving a step closer to a standard that could clear up uncertainty over reporting how much such holdings are worth. Companies and accountants want the FASB to adopt fair-value accounting instead, which would allow them to recognize losses and gains immediately and treat digital assets as financial assets. The FASB on Wednesday said fair-value accounting best captures the economics of crypto assets and determined the method would be a requirement rather than an option for companies. PREVIEWCompanies and investors have asked the FASB for years for rules on how to account for and disclose crypto assets. “Without these standards for the accounting and valuation of crypto assets, companies are reluctant to hold them,” she said.
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