Latest Articles

  • IRS Awards Equifax a $7.2 Million Fraud Prevention Contract

    By:
    Chris Gaetano
    |
    Oct 3, 2017
    In an irony of Sophoclean proportions, the IRS has awarded a $7.2 million fraud prevention contract to credit rating agency Equifax, which recently made headlines when it announced a massive data breach that affected potentially 44 percent of the U.S. population. 
  • Society Weighs in on IASB Disclosure Initiative

    By:
    Chris Gaetano
    |
    Oct 2, 2017
    The NYSSCPA advised the International Accounting Standards Board (IASB) to set clear requirements and avoid confusion with regards to the board's Principles of Disclosure initiative, which aims to improve disclosure quality for companies using IFRS. 
  • Study: Your Family Member Probably Won't Pay Back the Money You Lent Them

    By:
    Chris Gaetano
    |
    Oct 2, 2017
    While many no doubt have already learned this the hard way, a recent study has found that if you lend money to a family member, it is unlikely that you will get all of that money back. 
  • FASB Proposes Lease Standard Tweak to Account for Land Easements

    By:
    Chris Gaetano
    |
    Sep 28, 2017
    The Financial Accounting Standards Board (FASB) has proposed changing the lease accounting standard to clarify that, yes, a land easement should be evaluated as a possible lease, though there would be a practical expedient for those granted prior to the standard's approval. 
  • House Republicans Release Tax Plan Framework

    By:
    Chris Gaetano
    |
    Sep 28, 2017
    House Republicans, through the Ways and Means Committee, released the general framework under which they plan to craft more specific changes to tax policy. 
  • Speakers: Transition to Value-Based Medicaid Payment Looks Good So Far, But Much Remains to Do

    By:
    Chris Gaetano
    |
    Sep 27, 2017
    Health care in New York has come a long way since the global economic crisis forced major budget cuts in Albany, but State Medicaid Director Jason Helgerson, speaking at today's NYSSCPA Healthcare Conference, said that, even seven years later, there's still a lot to do.
  • To curb fraud, IRS will request more info on biz clients in 2018

    By:
    Chris Gaetano
    |
    Sep 26, 2017

    The IRS has announced that, in 2018, it will be asking tax preparers for more information about their business clients as part of an effort to curb identity theft and fraud. In a news release dated July 25, the agency was not specific about exactly what the new information would be, listing, instead, examples of the kind of information tax professionals “may be asked to provide when filing their business, trust or estate client returns.”

  • Regulatory Roundup Sept. 20-26

    By:
    Zach Simeone and Ruth Singleton
    |
    Sep 26, 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.
  • Hackers Breach Deloitte Data, Access Confidential Client Emails

    By:
    Chris Gaetano
    |
    Sep 25, 2017
    Hackers were able to breach Big Four firm Deloitte, breaking into the firm's global email server and accessing confidential client emails. 
  • Court Rulings Could Nearly Double Home Health Aid Costs

    By:
    Chris Gaetano
    |
    Sep 25, 2017
    Two separate state court rulings have determined that home health aides that work 24-hour shifts must be paid for all 24 hours, not the 13 that has been traditional industry practice, a move that could effectively double costs for clients.