Advocacy

  • Falbo Urges Lawmakers to Address Estate Tax ‘Cliff’

    By:
    Colleen Lutolf
    |
    Feb 10, 2016
    In an effort to drive home the “serious flaws” lawmakers created when they voted to amend the state’s estate tax law in 2014, NYSSCPA President Joseph M. Falbo Jr. told state legislators at a Feb. 3 budget hearing that CPAs will be forced to advise clients to move out of New York as a “valid wealth preservation strategy,” unless the law is corrected.

  • Society: FASB’s Nonprofit Proposal Does Opposite of What it Intends

    By:
    Chris Gaetano
    |
    Sep 22, 2015
    A proposal by the Financial Accounting Standards Board (FASB) that would radically alter the way non profit organizations present their financial information raises more problems than it solves, according to the NYSSCPA. In a comment letter published in August, the Society said the board’s plan was needlessly complex, falling far short of its goal to provide greater clarity, and was even more far-reaching than the board suggested. 
  • CPA, Private Eye? Not in NY, Thanks to Society Legislative Win

    By:
    Robert Busweiler
    |
    Aug 24, 2015

    In June 2013, the New York Department of State quietly asserted, in a letter responding to a formal inquiry by a regional firm, that a CPA performing forensic accounting investigations in New York state needs to obtain another license--for a private investigator. According to a state department attorney at the time, the services a forensic accountant provides to clients fell within the statutory scope of private investigation, thus the requirement for dual licensure. That’s when the NYSSCPA began petitioning the legislature and for an exemption, said NYSSCPA Executive Director Joanne Barry.

  • New Law Streamlines Form 990 Extensions

    By:
    Alonza Robertson
    |
    Aug 22, 2015

    Things just got a little less cumbersome for CPAs filing returns for non-profit organizations. A new bill, signed into law last month by President Obama, includes a streamlined, automatic 60-day extension request process for federal tax filings of Form 990. The NYSSCPA's Exempt Organizations Committee had made the recommendation to the IRS in a 2014 comment letter.

  • It’s Time: Society Urges IRS to Make Changes to 41-Year-Old Form 990-PF

    By:
    Chris Gaetano
    |
    Aug 17, 2015

    Form 990, which tax-exempt organizations are required to file annually, was dramatically redesigned in 2008 to account for the changing needs of its users. However, the less-often filed Form 990-PF, which tax-exempt private foundations and nonexempt charitable trusts are also required to submit, remains unchanged; it’s the same form the IRS rolled out in 1974, the year President Nixon resigned from office.

  • Have You Considered Serving on the Society’s Nominating Committee?

    By:
    John J. Lauchert, CPA, NYSSCPA Secretary/Treasurer
    |
    Jul 15, 2015

    Are you interested in helping to select who will serve on next year’s NYSSCPA Board of Directors? If so, consider serving on the Society’s Nominating Committee. This year’s 11-person Nominating Committee will be recommending a president-elect, four vice presidents, a secretary/treasurer, five at-large directors and directors from the Mid Hudson, Northeast, Queens/Brooklyn, Rockland and Utica chapters. These nominees are then presented to the membership in a proxy/ballot that is sent out in April.

  • NYSSCPA Weighs in on the Future of Peer Review

    By:
    Staff Reports
    |
    Jul 7, 2015
    The AICPA’s ambitious plan to revolutionize the 35-year-old peer review process with a near-real time engagement monitoring tool is being positioned to improve practice monitoring overall, but the NYSSCPA has identified some aspects of the proposal that need attention. 
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