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The Daily

NEWS HIGHLIGHTS FOR MONDAY - 4.11.16

By:
Maya Lindsay
Published Date:
Apr 11, 2016

NYSSCPA Members in the News

Jacqueline Tepfer (Rochester)
Last minute tax filing tips
WROC Rochester News
EFPR Group CPA Jacqueline Tepfer discussed some last minute tax filing tips Monday on News 8 at Sunrise. The filing deadline this year is Monday, April 18. The IRS says 20 to 25 percent of Americans will wait until the final two weeks to file their tax return.

NYSSCPA COAP Program
Firm News - April 8, 2016
Accounting Today
The New York State Society of CPAs is accepting applications for its annual Career Opportunities in the Accounting Profession program.

Other Accounting and Finance News Stories

The Market Might Lose This Fight With the Fed
Wall Street Journal
The Federal Reserve doesn’t expect to do much with rates this year, but investors expect it to do less. That could spell trouble. Projections released after last month’s Fed meeting showed the median expectation among policy makers would raise rates by a half point this year—just two quarter-point increases. Speeches Fed meeting participants have given since and the March meeting minutes have reinforced that message.

5 Things You Need to Know About the New Ethics Rule Hitting Wall Street
Time.com
On Tuesday, the Obama Administration unveiled a new regulation designed to prevent the nation’s 300,000-person army of financial advisers from giving conflicted advice to retirement savers. The move, which was years in the making, promises to be one of the biggest changes to the way Wall Street does business since the Dodd-Frank financial bill more than five years ago. So what exactly is going to change? Here are five key takeaways.

How SEC Lost the Race to Regulate Retirement Advice
Wall Street Journal
If there is one big mystery about the tough new rule for stockbrokers who give retirement advice, it is this: Why on earth is it coming out of the Labor Department? That sort of financial service is typically regulated by the Securities and Exchange Commission. But the SEC, weakened by a partisan divide among its commissioners and weighed down by requirements to write an abundance of new postcrisis rules, has fumbled a rare chance to set the regulatory tone for a generation. The implications go beyond Beltway bragging rights.

Senate Bill Would Toughen Penalties for Tax ID Theft
Accounting Today
Senate Judiciary Committee Chairman Chuck Grassley, R-Iowa, has introduced legislation to combat tax refund theft by identity thieves. The Tax Return Identity Theft Protection Act of 2016 would strengthen the existing penalties for identity thieves, establish tougher sentences for crimes against vulnerable and frequently targeted groups, and clarify the state-of-mind proof requirement that has prevented some identity thieves from being held accountable.

Millennial Employees Confound Big Banks
Wall Street Journal
Entry-level bankers from Goldman Sachs Group Inc. gathered in a lower Manhattan hotel ballroom last April to listen to the firm’s top executives try to fire them up about their budding careers. David Solomon, co-head of the firm’s investment bank, took on the touchy subject of young employees leaving for private-equity jobs.

By One Measure, U.S. Rates Are Already Negative
Wall Street Journal
Negative interest rates have swept the globe, from Switzerland to Sweden to Japan. By one measure, they’re here in the U.S. too. The 2016 rally in government bond prices has taken U.S. real yields, which subtract inflation from the 10-year Treasury yield, below zero for the first time since 2012.

NYSSCPA COAP Program

Firm News - April 8, 2016

Accounting Today

The New York State Society of CPAs is accepting applications for its annual Career Opportunities in the Accounting Profession program; read the full story here. … The Family Office Services Division of PKF O’Connor Davies received the Best Accountancy Advice Award at the third annual Family Wealth Report Awards in March.

NYSSCPA COAP Program

Firm News - April 8, 2016

Accounting Today

The New York State Society of CPAs is accepting applications for its annual Career Opportunities in the Accounting Profession program; read the full story here. … The Family Office Services Division of PKF O’Connor Davies received the Best Accountancy Advice Award at the third annual Family Wealth Report Awards in March.