February 15 , 2004
The Monthly Newspaper of the NYSSCPA
Vol. 7, No.3

What's Inside

Comptroller: Nonprofits Vital to NYC

Society Studies Ethics and Peer Review Reorganization

New Guidance Encourages Cost Segregation Studies

Behind the Scenes: Regulatory Review/Preview at SEC/FASB Conference

A War Story: Unclaimed Tax Credits and the Difficult Client

Committee Close Up

Moving Boards to the Head of the Class

Resources for Becoming a Board Member

Taxation of Financial Institutions and Products Conference Draws Big Names and Numbers

Setting Your Firm's 2004 Strategic Direction

Media Relations

Breakfast of Champions

 

 

State Board Eases Licensure Experience for Out-of-State CPAs

New York City Comptroller William Thompson at the Foundation for Accounting Education’s Nonprofit Conference on Jan. 29. Thompson, the keynote speaker, told CPAs about the impact of the nonprofit sector on the city’s economy.

 

By Dennis O’Leary, Legislative Counsel

NEW YORK—By a vote of 8 to 4, the New York State Board for Public Accountancy on Jan. 28 liberalized its long-standing experience policy for out-of-state CPAs to qualify for licensure in New York state.

The New York State Society of CPAs considers this action by the board as a significant step in the right direction, and hopes it will be persuasive to legislators to expand professional experience for all candidates for initial licensure. State Senate bill S302-D by Sen. Kenneth LaValle and the identical Assembly bill A8555-A by Assemblyman Ron Canestrari would expand experience to include attest, auditing, tax preparation, tax advisory services, or any combination thereof.

Continue...

Line 56: Enforcing New York’s Sales and Use Tax

By Dennis O’Leary, Legislative Counsel

NEW YORK— In 2003, the New York State Legislature passed into law a provision that requires unpaid sales and use tax to be paid on the taxpayer’s personal income tax return. This law resulted in the addition of a single line—line 56—to the Resident Income Tax Return IT-201. Continue...

Comptroller: Nonprofits Vital to NYC

By Simon Eskow

NEW YORK—New York City Comptroller William Thompson said his office would reform its contract procurement process to help nonprofit organizations maintain their vital role in the city’s economy, which has only recently shown signs of recovery. Continue...

President's Commentary

By Jeffrey R. Hoops

As many of you know, I have spent most of my professional career as a tax advisor. In spite of my love for the tax law, I have tried to use these columns to discuss issues and opportunities affecting the broader CPA profession. However, by the time you read this, we will all be in the middle of tax season. Therefore, I thought I would give you some of the same reminders about tax practice that I give myself each year. These reminders are both simple and practical. They come from the American Institute of CPAs’ Statements on Standards for Tax Services and from Treasury Circular 230. Continue...

Chapter Newsletters

FINGER LAKES

Message from the President

MID HUDSON

Message from the President

NORTHEAST

Northeast Chapter Seeks Suggestions to Fill Vacancies on 2004 - 2005 Executive
Board

ROCKLAND
Message from the President
STATEN ISLAND
Message from the President

 


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