Latest Articles

  • State Education Department Proposes Changes to Annual Professional Ethics CPE Requirement

    By:
    Ruth Singleton
    |
    Aug 8, 2017
    Beginning in 2018, New York-licensed CPAs will be required to earn six CPE credits in ethics every three years, up from the current four-credit requirement, if the New York State Board of Regents approves the measure this fall.
  • State Tax Department Simplifies Power of Attorney Form, Process Issues

    By:
    New York State Department of Taxation and Finance
    |
    Aug 8, 2017
    Based on feedback from tax professionals and taxpayers, the New York State Department of Taxation and Finance recently revised Form POA-1, Power of Attorney, and implemented a power of attorney (POA) web application to make it easy to file. The changes are part of the department’s ongoing effort to make its forms more user-friendly and to enhance its operational efficiency.
  • Americans' Credit Card Debt Tops $1 Trillion

    By:
    Chris Gaetano
    |
    Aug 8, 2017
    A recent report from the U.S. Federal Reserve has found that American credit card debt is higher than it's ever been before, with people collectively owing $1.021 trillion, and there's no sign it won't climb higher. 
  • NYC Mayor Proposes Tax Increase to Fund Subway Repairs

    By:
    Chris Gaetano
    |
    Aug 8, 2017
    NYC Mayor Bill de Blasio said that the city could raise taxes on the rich in order to fund repairs and improvements to the ailing public transit system. 
  • Regulatory Roundup: Aug. 2-8

    By:
    Chris Gaetano
    |
    Aug 8, 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.
  • Banks Pocketed $15 Billion in Overdraft Fees Last Year

    By:
    Chris Gaetano
    |
    Aug 7, 2017
    A recent report from the Consumer Financial Protection Bureau said that penalties from overdraft fees gave banks $15 billion last year. 
  • Regulatory Penalties Down Two-Thirds Compared with Last Year

    By:
    Chris Gaetano
    |
    Aug 7, 2017
    Securities and Exchange Commission, the Commodity Futures Trading Commission and the Financial Industry Regulatory Authority in the first half of 2017 were down nearly two-thirds compared with the first half of 2016. 
  • PCAOB Slaps PricewaterhouseCoopers with $1 Million Fine

    By:
    Chris Gaetano
    |
    Aug 4, 2017
    The Public Company Accounting Oversight Board (PCAOB) imposed a $1 million penalty against PricewaterhouseCoopers over issues in its audit of Merrill Lynch's compliance with SEC rules. 
  • Poll: 25 Percent Believe Time Travel Will Happen Before Female Parity in Fortune 500

    By:
    Chris Gaetano
    |
    Aug 4, 2017
    A recent survey done by the Rockefeller Foundation has discovered that 25 percent of people believe we'll have time travel before female parity in Fortune 500 leadership. 
  • Poll: Execs Unsure of Ability to Implement Lease Standards on Time

    By:
    Chris Gaetano
    |
    Aug 2, 2017
    A recent poll undertaken by Deloitte has found that nearly half of corporate executives are unsure of whether or not they will be able to implement the new lease standards in time for the 2019 effective date.