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News

The Daily

  • Treasury Department Crowdsourcing Ideas to Improve Tax Experience

    By:
    Chris Gaetano
    |
    Mar 23, 2016

    The U.S. Treasury Department knows that tax season can be a stressful time, and is inviting members of the public to send their best ideas of how the experience can be improved. 

  • New Frontier for Virtual Reality: Accounting

    By:
    Chris Gaetano
    |
    Mar 23, 2016
    The developing field of virtual reality entertainment has mainly focused on creating immersive visual spectacles that put the user in the middle of a horror movie or a sci-fi adventure. An all-star game design team, however, plans to bring VR users to an even more pulse-pounding setting: a public accounting firm. 
  • NEWS HIGHLIGHTS FOR WEDNESDAY - 3.23.16

    By:
    Maya Lindsay
    |
    Mar 23, 2016

    NYSSCPA Members in the News

    Sheila Brandenberg and Anil Melwani (Manhattan/Bronx)
    Joe Falanga (Staten Island)
    Taxes for 2015: What to know to save money
    amNewYork
    It’s the height of tax season, and many filers are struggling to navigate through this year’s rules regarding fines, exemptions and refunds. To make things a little easier, we spoke with a few local tax experts about some of the changes to this year’s system that might affect you. But before you dive in, Sheila Brandenberg, a New York CPA who runs her own firm out of her home in Teaneck, New Jersey, wants to remind filers that they can submit their New York State income taxes for free at tax.ny.gov

  • IRS Raises Interest Rates for First Time Since 2010

    By:
    Chris Gaetano
    |
    Mar 22, 2016
    The IRS will be raising its interest payment calculations for the first time since 2010. 
  • Gulf Between Adjusted Earnings, GAAP Figures, Largest Since 2008

    By:
    Chris Gaetano
    |
    Mar 22, 2016
    Over the past year, adjusted earnings calculations for S&P 500 companies have been an average of 30 percent higher than what GAAP calculations say. 
  • NEWS HIGHLIGHTS FOR TUESDAY - 3.22.16

    By:
    Maya Lindsay
    |
    Mar 22, 2016

    NYSSCPA Members in the News

    Sidney Kess (Manhattan/Bronx)
    Tips to get a bigger tax refund
    ElPasoInc.com
    Whittling your taxes to the legal minimum and avoiding traps isn’t always easy, but putting in some effort may save you money. Taxpayers this year still have to navigate the 3.9-million-word Internal Revenue Code and may also have to deal with several new factors.

  • NEWS HIGHLIGHTS FOR MONDAY - 3.21.16

    By:
    Maya Lindsay
    |
    Mar 21, 2016

    NYSSCPA Members in the News

    Jamie Block (Rochester)
    Red flags in choosing tax preparer
    WROC Rochester First
    CPA Jamie Block discussed some red flags to look out for when selecting a tax preparer to assist with your income tax return Monday on News 8 at Sunrise. Block said the IRS has technology that will detect mistakes on your return, honest or dishonest. Fraudulent returns will result in a tax penalty and may also include interest and other penalties.
      

  • AICPA Slams Ad Disparaging CPAs

    By:
    Chris Gaetano
    |
    Mar 18, 2016
    The AICPA is not amused by a recent ad from H&R Block saying that CPAs don't know taxes like they do and questioning their willingness to support clients before the IRS.
  • TIGTA Reports Progress in Fight Against Scammers

    By:
    Chris Gaetano
    |
    Mar 18, 2016
    The Treasury Inspector General for Tax Administration (TIGTA) reports that efforts to curb IRS phone scams are working, as fewer people are falling victim to them.
  • NEWS HIGHLIGHTS FOR FRIDAY - 3.18.16

    By:
    Maya Lindsay
    |
    Mar 18, 2016

    Accounting and Financial News Stories

    AICPA and H&R Block Feud Over Ad Campaign
    Accounting Today
    The American Institute of CPAs is crying foul over an ad by H&R Block suggesting that many CPAs don’t know how to prepare tax returns, but Block is promising to increase its competition with CPAs. The radio spot and video for the Block Advisors service said its advisors have an average of 15 years of experience. “Speaking of expertise, did you know many CPAs don’t even specialize in preparing tax returns? Think about that,” said the video, which was reported on by the Going Concern blog.

  • FASB Turns Eye Toward Tax Disclosures

    By:
    Chris Gaetano
    |
    Mar 17, 2016
    Financial Accounting Standards Board Vice Chairman James Kroeker said at a recent conference that the board is working on two proposals that will get companies to disclose more tax information. 
  • SEC Hints at Crackdown on Non-GAAP Reporting

    By:
    Chris Gaetano
    |
    Mar 17, 2016
    Securities and Exchange Commission (SEC) Chair Mary Jo White said she is considering whether to curb the use of non-GAAP financial reporting.
  • NEWS HIGHLIGHTS FOR WEDNESDAY - 3.16.16

    By:
    Maya Lindsay
    |
    Mar 16, 2016

    NYSSCPA Members in the News

    Joseph Falbo Jr. - NYSSCPA President
    Non-CPA ownership legislation in stalemate
    Long Island Business News
    Despite widespread agreement that people other than CPAs should be able to own a stake in accounting firms, legislation has remained in limbo amid a disagreement over the percentage of ownership that should be allowed. In 1994, Nebraska became the first state to allow non-CPA ownership, followed by North Carolina in 1995. 

  • NYSSCPA Member Survey Drawing Winners Announced

    By:
    Chris Gaetano
    |
    Mar 15, 2016
    The NYSSCPA is pleased to announce winners from the survey drawing.
  • NEWS HIGHLIGHTS FOR TUESDAY - 3.15.16

    By:
    Maya Lindsay
    |
    Mar 15, 2016

    NYSSCPA Members in the News

    Westchester Chapter
    Need help with your tax questions?
    Poughkeepsie Journal
    The Poughkeepsie Journal will host its annual Tax Counsel Clinic 5-7 p.m., March 23, with Poughkeepsie-area CPAs. Experts from the New York State Society of Certified Public Accountants will be available to answer your looming tax filing questions, help you define undiscovered deductions, teach you the basics of common tax credits and educate you on all you need to know about the Affordable Care Act’s tax implications and more.

  • IRS: Fraudsters Now Trying Kinder, Gentler Scams

    By:
    Chris Gaetano
    |
    Mar 15, 2016
    Though people continue to be menaced by threatening phone calls from fraudsters posing as IRS agents, the service has warned of a new breed of scams using the carrot instead of the stick.
  • SEC OKs $253 Million Increase in PCAOB Support Fees

    By:
    Chris Gaetano
    |
    Mar 15, 2016
    The Securities and Exchange Commission (SEC) set the 2016 budget for the Public Company Accounting Oversight Board (2016) at $257 million. Of this, $253 million would be from accounting support fees. 
  • Senate Banking Committee to Vet Republican and Democrat SEC Nominees

    By:
    Chris Gaetano
    |
    Mar 14, 2016
    The Senate Banking Committee will evaluate whether a pair of academics, a Democrat and a Republican, should be the ones to fill two vacancies on the Securities and Exchange Commission.
  • National Taxpayer Advocate Coming to the Bronx

    By:
    Chris Gaetano
    |
    Mar 14, 2016
    National Taxpayer Advocate Nina E. Olson will be in the Bronx this month to discuss what taxpayers need and want from the IRS in order to comply with their tax obligations.
  • NEWS HIGHLIGHTS FOR FRIDAY - 3.11.16

    By:
    Maya Lindsay
    |
    Mar 11, 2016

    Accounting and Financial News Stories

    IRS to Fix Controls over Obamacare Tax Credits
    Accounting Today
    The Internal Revenue Service plans to strengthen its controls over the accounting for the Premium Tax Credit, which helps subsidize health insurance premiums under the Affordable Care Act, after a government watchdog found discrepancies of $447 million.