Latest Articles

  • IRS Gives Partnerships, REMICs, Certain Other Entities More Time

    By:
    Chris Gaetano
    |
    Dec 1, 2017
    The IRS has given certain entities a little more time on their taxes to account for recently implemented due date changes. 
  • Corporate Boards Concerned About Industry Disruption, Cybersecurity

    By:
    Chris Gaetano
    |
    Nov 30, 2017
    A survey of 587 corporate directors at 520 public companies has found that board members are concerned about the changing state of both their own industry and the economy as a whole, as well as emerging cybersecurity threats. 
  • FASB to Make Lease Accounting Standard a Little Easier

    By:
    Chris Gaetano
    |
    Nov 30, 2017
    The Financial Accounting Standards Board (FASB) gave final approval to a proposed update that allows entities to use a practical expedient when it comes to land easements, as well as voted to propose a new update that allows lessors to not separate lease and nonlease components if certain conditions are met. 
  • Most CEOs Plan to Use Tax Cuts to Pay Shareholders, Debts

    By:
    Chris Gaetano
    |
    Nov 29, 2017
    At a recent forum attended by CEOs of top companies like Coca Cola Co. and Pfizer, it was found that the vast majority had no plans to spend tax cuts on jobs and investment, with most opting instead to reward shareholders and pay down debt. 
  • Speakers Promote Tax Security Awareness, Saying Cybercrime Is Growing Rapidly

    By:
    Chris Gaetano
    |
    Nov 29, 2017
    Cybercrime and identity theft are among the fastest growing crimes. Given this rapid growth, speakers from the IRS, New York State Department of Taxation and Finance,  Better Business Bureau, New York City Department of Consumer Affairs and Manhattan District Attorney's Office held a press conference on Nov. 29, stressing the need for people to protect themselves.
  • Wells Fargo Currency Traders Found to Be Overcharging Customers to Fatten Bonuses

    By:
    Chris Gaetano
    |
    Nov 28, 2017
    Currency traders at Wells Fargo routinely overcharged foreign exchange customers in order to meet bonus incentives based on how much revenue they were able to pull in.
  • IRS to Allow Casualty Deductions for Damaged Concrete Foundations

    By:
    Chris Gaetano
    |
    Nov 28, 2017
    The IRS will now allow certain damage resulting from deteriorating concrete foundations to be treated as a casualty loss.
  • Regulatory Roundup: Nov. 15-28

    By:
    Chris Gaetano
    |
    Nov 28, 2017
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYSSCPA’s regular series that collects relevant regulatory announcements from the past week, and puts them in one place to help you stay on top of the issues.
  • NYC Housing Agency Makes Changes to CPA’s Report at Society’s Urging

    By:
    Chris Gaetano
    |
    Nov 27, 2017

    After three years of negotiations, the New York City Department of Housing Preservation and Development (HPD) has agreed to implement changes suggested by the NYSSCPA’s Real Estate Committee that bring a CPA’s report used in a tax exemption and abatement program known as J-51 into compliance with professional standards.

  • Finance Chiefs Turning Against Microsoft Excel

    By:
    Chris Gaetano
    |
    Nov 27, 2017
    Influential finance chiefs of major public corporations like Adobe are increasingly turning against popular business spreadsheet software Microsoft Excel, saying it's a relic of an earlier age that's getting in the way of today's businesses.