Attention FAE Customers:
Please be aware that NASBA credits are awarded based on whether the events are webcast or in-person, as well as on the number of CPE credits.
Please check the event registration page to see if NASBA credits are being awarded for the programs you select.

News

tax_stinger_logobanner

 
 
2024 New York Tax Update – Year in Review

Our Recommended Reading List on Tax Policy

State Tax Considerations When Selling a Partnership Interest

Can a Home Subject to a Mortgage Be Transferred to a Trust?
SCOTUS Exposes All Regulations to Court Scrutiny in Loper Bright

Latest Articles

  • Obama’s Budget Proposal to Tax Unrepatriated Foreign Earnings

    By:
    LISA S. GOLDMAN, CPA, AND THOMAS V. RUTA, CPA
    |
    Mar 1, 2015
    President Obama’s 2016 Budget contains a proposal to end "deferral” of tax on income earned in Controlled Foreign Corporations (CFC).

  • New York Residency Audits: Defending Foreign Domicile Changes

    By:
    JACK TRACHTENBERG, JD, ESQ. and JENNIFER S. GOLDSTEIN, JD, ESQ.
    |
    Mar 1, 2015
    Generally, to establish a change of domicile, a taxpayer must demonstrate a change of lifestyle such that the taxpayer’s subjective intent to make a new location his or her permanent home is substantiated by objective evidence.

  • Virtual Currency Exchange Accounts, Hosted Wallet Services, and Vault Services Located Abroad May Trigger FBAR Filing Requirements

    By:
    Keith Miller, Richard Peterson and Joseph Cutler
    |
    Feb 1, 2015
    As the title suggests, there remains an open question as to whether virtual currency accounts, hosted wallet services and vault services located abroad may trigger FBAR filing requirements. Based on case law and the probability of FinCEN deciding to treat virtual currency the same as money, it appears likely that the FBAR filing requirements applicable to monetary accounts will also be applied to accounts funded with virtual currency.

  • Increased Enforcement of State Abandoned Property Laws

    By:
    Joseph Endres
    |
    Feb 1, 2015
    All 50 states, the District of Columbia and three Canadian provinces have abandoned property laws on their books. These laws are intended to safeguard the abandoned property of the jurisdiction’s citizens, who, for some reason, have failed to claim the property from the businesses holding it.

  • Private & Non-Profit Company Directors and Officers Insurance

    By:
    Brian Weiss
    |
    Feb 1, 2015
    Although directors and officers of private and not-for-profit companies face similar liability exposures as do their publicly traded corporation counterparts, they often view their risks as being of a much lesser degree. Therefore, it is common for these companies not to have adequate directors and officers (“D&O”) insurance.

  • Charitable Solicitation Across State Lines: What You Need To Know When Your Charity Clients Engage in Multi-State Fundraising Activities

    By:
    Seth Perlman, Esq. and Tracy L. Boak, Esq.
    |
    Feb 1, 2015
    Currently, 45 states, as well as the District of Columbia have some degree of statutory regulation of charitable solicitation activity conducted within their borders. Many, although not all states, require registration and reporting.

  • Dealing with Virtual Currency? Taxation, Reporting FBARs, and FATCA Worries

    By:
    Keith Miller, Richard Peterson and Joseph Cutler
    |
    Jan 1, 2015
    You or your client decide to jump into the exciting but volatile world of Bitcoin and virtual currencies. What are some of the most important tax-related implications of dealing in virtual currency, and what are the hidden reporting requirements associated with such transactions?

  • Employment Law Updates in New York City and State

    By:
    Jonathan A. Wexler, Esq., and Kaitlyn Fallon, Esq.
    |
    Jan 1, 2015
    As discussed in Part I, which appeared in the November 2014 TaxStringer, New York State, New York City, and New Jersey have enacted various statutes that have changed the employment landscape for both employers and employees.

  • The Value of Using Irrevocable Trusts in Medicaid Planning

    By:
    Louis Lepore, Esq.
    |
    Jan 1, 2015
    If a potential Medicaid recipient desires to qualify for benefits, but yet preserve his or her assets within the family, he or she must gift those assets away. After a 5-year lookback period, the transferred assets are no longer countable for purposes of determining the recipient’s eligibility for Medicaid benefits. This raises the question of whether the form of the gift should be an outright gift or a transfer to an irrevocable trust for the benefit of the family member(s).

  • Gaied Decision: Upon Video Review, Case Closed

    By:
    Timothy Noonan, JD, and Joshua Lawrence
    |
    Dec 1, 2014
    We know what you are thinking. Another article on the Gaied case? By now anyone who follows New York tax developments to any degree has seen articles analyzing the New York Court of Appeals’ landmark decision on New York’s residency rules.
Page
Tax Jokes
  

If I needed to hire an accountant in Transylvania, who would you recommend? Count Dracula, of course.
 
https://parade.com/1317763/jessicasager/accounting-jokes/

Tax News

 

2025 Tax Filing Season Starts as IRS Begins Accepting Tax Returns Today; Taxpayers Have Many Options for Help, Internal Revenue Service

IRS, CASST Announce 2025 Filing Season Changes Aimed at Preventing Spread of Scams, Schemes; New Fuel Tax Credit Statement and Increased Review of “Other Withholding” Claims Among Highlights, Internal Revenue Service

Governor Hochul's Tax Plans Aim to Ease Costs for New Yorkers in 2025, The Trusted Professional


SALT Talks Gain Steam with Trump's blessing on Tax Break, Arizent


Will the New Partnership Related Party Basis-Shifting Rules Survive?, Thomson Reuters/Tax & Accounting


IRS Faces Hiring Freeze and Revoked Job Offers as Tax Season Begins, The Trusted Professional

Treasury, IRS Issue Proposed Regulations on New Automatic Enrollment Requirement for 401(K) and 403(B) Plans, Internal Revenue Service

Treasury Official on Int’l Tax ‘Simplification’ Efforts, Thomson Reuters/Tax & Accounting


Conference Speakers Discuss How to Navigate the Changing Landscape of Exempt Organizations Taxation, The Trusted Professional


IRS Targets Tax Loopholes in Partnership Transactions with New Rules, The Trusted Professional

Taxpayer Advocate Gives IRS a Mixed Review in 2024 Annual Report, The Trusted Professional

*Outside the Box is a new addition to the TaxStringer featuring important articles on financial and investment management topics by top authors who have expertise both inside and outside the realm of taxation.

 

 

Interested in writing for the TaxStringer? Click here for Submission Guidelines and contact TaxStringer@nysscpa.org.


View Upcoming Tax Courses

 
Views expressed in articles published in Tax Stringer are the authors' only and are not to be attributed to the publication, its editors, the NYSSCPA or FAE, or their directors, officers, or employees, unless expressly so stated. Articles contain information believed by the authors to be accurate, but the publisher, editors and authors are not engaged in redering legal, accounting or other professional services. If specific professional advice or assistance is required, the services of a competent professional should be sought.