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The Daily

  • NEWS HIGHLIGHTS FOR TUESDAY - 2.9.16

    By:
    Maya Lindsay
    |
    Feb 9, 2016

    Corporate Close-Up: Five State Tax Trends To Watch In 2016
    Bloomberg BNA
    As we begin the Year of the Monkey, lists of upcoming trends abound. Whether you are ready to try a new hair style, visit this year’s hottest travel destinations, or shake up your menu, there is a list to safely guide you into the new year.

  • Accounting Firms Add 5,800 Jobs, But Who Will Staff Them?

    By:
    Chris Gaetano
    |
    Feb 8, 2016
    The U.S. Bureau of Labor Statistics reported that January brought 151,000 new jobs to the economy, of which 5,800 are in accounting or bookkeeping services. 
  • Why Workers Don't Speak Up, Even When Invited

    By:
    Chris Gaetano
    |
    Feb 8, 2016
    Corporate leaders blindsided by long-simmering problems may ask themselves "why didn't anyone tell me about this sooner?" They may look at the company's open door policy, or its anonymous comment system, or even the presence of an ombudsperson and think there are plenty of avenues for workers to speak up--so why don't they? 
     
  • NEWS HIGHLIGHTS FOR MONDAY - 2.8.16

    By:
    Maya Lindsay
    |
    Feb 8, 2016

    Tom Walpole (Rochester)

     

    Tax basics

    WROC Rochester First

    CPA Tom Walpole discussed the basics of taxes and why we pay them Monday on News 8 at Sunrise. Walpole said taxes are a special kind of fee or charge the government requires people to pay in order live and work in their state and country.  Sales tax for example are a percentage of the total price when you buy things like mobile phones, sneakers or a new toy.

     

     

  • On Hold with the IRS? New Service Will Do the Waiting for You

    By:
    Chris Gaetano
    |
    Feb 5, 2016
    Waiting on hold with the the government can be stressful. But at least one service, enQ, is marketed to people dealing with the glacial slowness of government bureaucracy, specifically the IRS and Social Security Administration. 
  • GAO: CFTC Violated Accounting Rules

    By:
    Chris Gaetano
    |
    Feb 5, 2016
    The Government Accountability Office (GAO) said in a legal decision that the Commodity Futures Trading Commission (CFTC) violated accounting rules, confirming what Big Four firm KPMG said last month when it withdrew seven years' worth of audit opinions. 
  • IRS E-File Service Back Up

    By:
    Chris Gaetano
    |
    Feb 5, 2016
    The IRS has announced that yesterday's computer outage has now been fixed, and e-filing services have resumed. The IRS emphasized that taxpayers do not need to take any additional actions due the outage, including those who filed right before the disruption. 
  • NEWS HIGHLIGHTS FOR FRIDAY - 2.5.16

    By:
    Maya Lindsay
    |
    Feb 5, 2016

    3 Biggest Trends in Accounting Technology for 2016

    Accounting Web

    The world of accounting software is just like the world of retail in this regard. What accounting software companies and accountants want is to sell more things and to keep us coming back for more. In 2016, those two ideas are going to drive most of the change we see in the market.

  • FASB Lays Out 2016 Research Priorities

    By:
    Chris Gaetano
    |
    Feb 4, 2016
    The Financial Accounting Standards Board (FASB) on Wednesday laid out its top areas of concern for the coming year, according to a FASB media advisory. 
     
  • IRS Computer Outage Halts Electronic Filing

    By:
    Chris Gaetano
    |
    Feb 4, 2016
    A hardware failure on Wednesday disabled the IRS's electronic filing system only 24 days into the filing season, as well as other related systems on the service's network.
  • NEWS HIGHLIGHTS FOR 2.4.16

    By:
    Maya Lindsay
    |
    Feb 4, 2016

    Barry Picker (Queens/Brooklyn)

    5 pros you might need for money help

    Bankrate

    You get no extra credit for tackling the complexities of your financial life alone. Are you planning for retirement? Considering how to divide your assets after your death? Grasping for a plan to pay down debt? There are professionals who can help with just about any money concern. Their advice may cost you money, but a good expert can steer you away from pitfalls or offer reassurance you've made the right financial moves.

  • NASBA/AICPA Release Revised Proposal on CPE Standards

    By:
    Chris Gaetano
    |
    Feb 3, 2016
    The National Association of State Boards of Accountancy and the AICPA have released their revised proposal on proposed changes to continuing professional education standards. 
  • PwC Crew Hired for Zoo Review

    By:
    Chris Gaetano
    |
    Feb 3, 2016
    Big Four firm PricewaterhouseCoopers is heading to the zoo, not to feed the goats but to figure out what processes broke down that allowed a worker to enter a Sumatran tiger enclosure and fall victim to a fatal attack by the animal. 
  • Corporate Tax Forms for NYC, NYS Missing in Action; Snarls Filing Process

    By:
    Chris Gaetano
    |
    Feb 2, 2016

    Delays in corporate filings for both New York City and New York state persist as the required forms and guidelines remain incomplete and unavailable only weeks away from the March 15 deadline.  

  • Study: Auditors Are More Cautious When Doing Taxes

    By:
    Chris Gaetano
    |
    Feb 2, 2016

    A recent research report says that corporate taxes prepared by external auditors take fewer questionable deductions than those prepared by both their own staff and outside non-audit firms.

  • FASB Member Daryl E. Buck to Retire, Ending Second Term Early

    By:
    Chris Gaetano
    |
    Feb 1, 2016
    The Financial Accounting Standards Board (FASB) announced that member Daryl E. Buck plans to retire at the end of this year. 
  • Imagine No More Tax Season

    By:
    Chris Gaetano
    |
    Feb 1, 2016
    Hey, everyone, it's tax season! It's time to sharpen your pencils, break out the takeout, and wave goodbye to anything resembling a social life for the next few months. It's an annual tradition that, while unpleasant, remains a fixture in American society, a fact of life as regular as the tide and about as controllable. 
     
  • Everything's Fast But Our Decisions

    By:
    Chris Gaetano
    |
    Jan 29, 2016
    Everything's fast today. Our deliveries are fast. Our communications are faster. And our stock trades? Even faster. But an article in Fortune finds evidence that there's at least one thing that is actually getting slower: our decisions.
  • Report: IRS ID Theft Prevention System Good, but Could Use Improvement

    By:
    Chris Gaetano
    |
    Jan 29, 2016
    While IRS security protocols intercept their fair share of identity theft attempts, a recent report from the Treasury Inspector General for Tax Administration (TIGTA) said a better net could catch more.
  • Is Reno, Nev., the New Switzerland?

    By:
    Chris Gaetano
    |
    Jan 28, 2016
    Since the 2008 financial crisis, authorities in both the U.S. and Europe have worked vigorously to keep wealthy individuals and clients from circumventing tax laws.How ironic, then, that the U.S. itself is now seen as an attractive destination for those looking to hide their money from prying eyes.