Latest Articles

  • IRS Commissioner: ID Theft Cases Dropped Nearly Half

    By:
    Chris Gaetano
    |
    May 19, 2017

    IRS Commissioner John Koskinen, in a recent speech, said that the number of people reporting to the IRS that they were victims of identity theft declined by 46 percent between 2015 and 2016, which he said as a sign that ongoing efforts to stop people from filing false returns are working. 

  • Study: Workplace Injuries More Likely When Earnings Pressure Rises

    By:
    Chris Gaetano
    |
    May 19, 2017
    A recent study has found that workplace injuries are more common when the company faces pressure to meet earnings expectations. 
  • Deloitte, KPMG Listed in Top 50 Places People Want to Work

    By:
    Chris Gaetano
    |
    May 18, 2017
    Big Four accounting firms Deloitte and KPMG have been listed as the 36th and 44th most desirable places to work based on a study of user activity by LinkedIn.
  • FASB Releases Update on Determining the Customer in a Service Concession Arrangement

    By:
    Chris Gaetano
    |
    May 18, 2017
    The Financial Accounting Standards Board (FASB) has released an update that aims to end diversity of practice in determining who is the customer in a service concession arrangement. 
  • Tax Court Rules That Strippers Are Not Therapists, Club Must Pay Tax

    By:
    Chris Gaetano
    |
    May 17, 2017
    A NYC strip club has lost its case in tax court after trying, unsuccessfully, to argue that it offered therapeutic services of the type that would be offered by someone like a sex therapist. The judge disagreed on this point and others, and so has ordered the club to pay $3 million. 
  • NYS Assembly Passes Single Payer Health Care Bill

    By:
    Chris Gaetano
    |
    May 17, 2017
    By a  87 to 38 majority, the New York State Assembly has passed a measure that's intended to transition the Empire State into a single payer health care system. 
  • GASB Releases Guidance on Debt Extinguishment Issues

    By:
    Chris Gaetano
    |
    May 16, 2017
    The Governmental Accounting Standards Board has released new guidance for transactions in which cash and other monetary assets acquired with only existing resources—resources other than the proceeds of refunding debt—are placed in an irrevocable trust for the sole purpose of extinguishing debt.
  • SEC: Traders Lied to Customers About Prices to Inflate CMBS Desk Profit

    By:
    Chris Gaetano
    |
    May 16, 2017
    The Securities and Exchange Commission charged two traders who ran the commercial mortgage-backed securities (CMBS) desk at Nomura Securities International Inc. with deliberately lying to their customers so they could inflate profits of their desk and line their pockets as a result. 
  • Regulatory Roundup: May 10 to May 16

    By:
    Chris Gaetano
    |
    May 16, 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.
  • Over 200,000 Hit in Massive Cyber Attack

    By:
    Chris Gaetano
    |
    May 15, 2017
    A massive cyber attack has targeted over 200,000 people in 150 different countries, locking car factories, hospitals, shops and schools and demanding a ransom to restore functionality.