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The NYSSCPA Stands Against Racial Injustice

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Workplace Guidance to Plan and Respond to Coronavirus Disease 2019 (COVID-19)

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What's New at the Society?

Members Get Unlimited Access to Self Study CPE

 
Unlimited CPE for NYSSCPA Members

Introducing a New Member Benefit!
 
NYSSCPA members now have free unlimited access to over 150 CPE courses in our Self Study Course Catalog.
 
"I enjoy the online CPE because it allows for me to stay up-to-date with pertinent accounting issues while studying on my own time. I can pause the sessions and resume at my convenience. I feel the CPE is highly relevant as a majority of the sessions have lecturers who are experts in their field. The online interface that NYSSCPA utilizes is user friendly and allows me to easily sort by topic."
– Greg Kozerski, Jr., NYSSCPA Member

 

The New NYSSCPA Career Center

 
The New NYSSCPA Career Center

Whether you're an employer looking for your next great hire, or a job seeker looking for your next great opportunity, the NYSSCPA Career Center is here to assist you.

Employers: Post Job Descriptions Here
Job Seekers: View Open Positions Here

 

Get Money Smart

 
Get Money Smart

The cost of financial ignorance is high.

Check out these materials and consider attending one of our free events to learn more about taxes, credit, debt, budgeting, the basics of investing and learning activities for children.

 

Technical Hotline

 
The NYSSCPA Technical Hotline

Stumped? Get CPA expertise through the technical hotline!

Call the hotline at 212-719-8309 or
email your inquires to technical@nysscpa.org.

 

The Latest From Our Publications

Read the June/July 2021 Issue on

CPAJournal.com

As usual, our annual technology issue covers a number of current topics in the field that will impact the accounting profession. This year, many of our authors focused on blockchain and how its various applications may disrupt a variety of existing practices. Eric Cohen and Anthony Vinci tackle some of the common misperceptions about digital assets, such as the fact that there is no single universal blockchain and that despite their resiliency, no blockchain is totally immutable.

Read Now »

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The Trusted Professional

  • Democrats Close to Deal on SALT Deduction Cap
    Sep 28, 2021
    As a way to secure support for the $3.5 trillion spending bill, Democratic leaders are close to reaching a deal with centrist members who have been pushing for relief on the $10,000 cap on state and local tax (SALT) deductions. 
  • IRS Announces New Fee for Estate Tax Closing Letters
    Sep 28, 2021
    The IRS announced that closing letters for estate tax returns will soon come with a $67 fee. 
  • Regulatory Roundup - Sept. 18-27
    Sep 27, 2021
    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.
  • $27 Million in Hurricane Ida Relief Now Available to Undocumented New Yorkers
    Sep 27, 2021
    New York Gov. Kathy Hochul and New York City Mayor Bill de Blasio today announced that $27 million is available to undocumented individuals who were affected by Hurricane Ida. 
  • Speaker Delays Infrastructure Vote, Says Reconciliation Bill Will Be Smaller
    Sep 27, 2021
    Speaker of the House Nancy Pelosi , who'd previously scheduled the vote on the bipartisan infrastructure bill for Monday, pushed it back to Thursday, as centrists and progressives continue negotiations over both that bill and the $3.5 trillion reconciliation bill, which focuses on social policy and climate change.

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  • International Activities Conducted by Tax-Exempt Organizations, Center of Attention at the Internal Revenue Service
    Aug 30, 2021

    International activities conducted by tax-exempt organizations have been a high-focus area for decades. Today, this subject continues to be a high enforcement priority for the IRS, who actively seeks to ensure that foreign assets and expenditures are used for charitable purposes. Tax laws prohibit the diversion of charitable assets to any noncharitable purpose; this includes financial support of terrorist organizations and activities. Needless to say, cooperation and partnerships with other federal agencies are crucial to combat the existing abuses in this area.
  • The Decision to Transfer One’s Residence to Loved Ones or a Trust Requires Consideration of Many Factors
    Aug 30, 2021
    Clients regularly call and advise me that they have decided to take steps to protect their home and/or vacation home for long-term care purposes. However, the decision to do so raises a number of significant and complex issues and concerns for both the attorney and client; for example, every potential transfer creates estate and gift tax, capital gains tax as well as Medicaid eligibility issues for the client, particularly a senior. A complete and thorough review of all available options should be made prior to making the transfer.  
  • Recent Administrative and Judicial Developments in IRS Appeals
    Aug 30, 2021
    Since enactment of the Taxpayer First Act (TFA) in July 2019, the IRS has issued subregulatory guidance to implement the major new provisions affecting appeals, including a memorandum on taxpayer access to the appeals office and a memorandum on taxpayer access to case files prior to scheduled appeals conferences.  In addition, recent court decisions have also dealt with appeals-related issues, including challenges over the scope of the right to appeal under the TFA.
  • Federal and Tri-State Area Income Tax Treatment of Amortizable Bond Premium
    Aug 30, 2021

    A bond investor generally recognizes two characters of income during the bond’s term: interest income from the coupon payments, and a capital gain/loss when the bond matures (or is disposed of). During the bond’s term, they may have to address any Amortizable Bond Premium (ABP) for income tax purposes. ABP is equal to the excess of the purchase price over the face/par value, and is typically incurred when the interest rate on the bond is paying more than the prevailing interest rates on bonds.