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New CFC Rules for 2026: Section 958(b)(4) Restoration and the Foreign Controlled Corporation Provisions
The One Big Beautiful Bill Act: Tax Provisions
Proposed CAMT Guidance May Have Significant Impact on Asset Management

Coast-to-Coast Tax Residency: Comparing New York and California Residency Rules
Beneficial Owner Disclosure Under the New York LLC Transparency Act

Latest Articles

  • Trusting the Trustees and Additional Trust-Related Issues

    By:
    Shahnaz Mahmud
    |
    Aug 1, 2014
    The first article in this series discussed trusting the beneficiaries, but what about trusting the trustees? At the NYSSCPA Family Office Committee conference, Randy Werner, a loss prevention executive at CAMICO, urged participants to truly think about what is involved.

  • The Grantor Retained Annuity Trust: A Jackpot for Taxpayers Who Want to Limit Gift Tax Liability

    By:
    Daniel Mazzola, CPA, CFA
    |
    Aug 1, 2014
    One of the first things lottery winners learn is that their prize money is subject to taxation. In the United States, lottery prize money is classified as gambling winnings and is considered taxable income, just like wages from employment and interest earned at a bank. There is not much the lottery winner of a significant cash prize can do regarding income taxes, but he can reduce gift taxes by establishing a grantor retained annuity trust.

  • Advancements in Reproductive Technology Raise Estate Planning Issues

    By:
    Carole M. Bass, Esq.
    |
    Jul 1, 2014
    Massive scientific advancements in the field of reproductive technology—coupled with delays in childbearing, the growth of nontraditional families, and increased success rates in cancer treatment—have resulted in rapid expansion in the use of assisted reproductive technology (ART). In 2012, the American Society of Reproductive Medicine removed the “experimental”label from egg freezing, signaling an anticipated expansion in the number of women who will harvest and store unfertilized eggs for later use.

  • Navigating the Perilous Waters of Trusteeship: The Issue of Control

    By:
    Shahnaz Mahmud
    |
    Jul 1, 2014
    Whom do you trust? This is a sensitive question for almost everyone. But in the family office world, it's even more important. Author George MacDonald summed it best: “To be trusted is a greater compliment than being loved.”The NYSSCPA Family Office Committee’s fourth annual conference in February 2014 addressed the topic of trust—specifically, a trustee’s obligations and pitfalls that such a trustee might face.

  • A New Trend in New York State Residency Cases

    By:
    Brian Gordon, CPA
    |
    Jul 1, 2014
    For former New Yorkers, convincing New York state that a change of domicile occurred is still very difficult. Several recent residency cases have resulted in a loss for taxpayers and a win for New York state.

  • Tax Incentives for Film Production in New York State

    By:
    Zev Landau, CPA, MBA
    |
    Jul 1, 2014
    Because New York state is a financial powerhouse (just consider Wall Street), it has an important edge in securing financing for film productions. New York’s government and its wealthy entities can provide financing through government grants, tax incentives, and tax credits.

  • Fraud Risks and Prevention Techniques for Exempt Organizations

    By:
    David Zweighaft, CPA/CFE, CPE
    |
    Jun 10, 2014
    Reliance on documents is often the basis for initiating, recording, or approving accounting transactions—and, in a perfect world, that would be reasonable and acceptable. Unfortunately, there is always the risk of fraud in clients’ organizations.

  • Pressure Builds on U.S. Taxpayers with Foreign Accounts

    By:
    Robert Barnett, CPA, JD, MS (taxation) and Renato Matos, JD, LLM (taxation)
    |
    Jun 1, 2014
    The Foreign Account Tax Compliance Act of 2010 (FATCA) has manifested outside the United States in recent months, as a result of an agreement announced on Aug. 29, 2013, between the U.S. Department of Justice and the Swiss Federal Department of Finance.

  • Estate Tax Changes under the 2014/2015 Executive Budget

    By:
    Jonathan Rikoon
    |
    Jun 1, 2014
    Governor Andrew M. Cuomo announced in January that he would introduce legislation intended to reduce the estate tax provisions that may provide an incentive for New Yorkers to move out of the state shortly before death. But even though the new law, signed on Apr. 1, 2014, provides some tax relief for moderately well-off taxpayers, the wealthiest New Yorkers will see little—if any—change. In some cases, they will actually experience an increase in estate and income tax.

  • New York’s Film Tax Credit Program Bolsters Its Success in the Film Industry

    By:
    Zev Landau, CPA, MBA
    |
    Jun 1, 2014
    New York state recently enacted a bill that will extend tax credits for film production and postproduction, based on qualified costs. Find out how your clients or company can take advantage of this state's Film Tax Credit in this first of a two-part series by CPA and MBA Zev Landau.
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Tax Jokes
  

What does an accountant say when getting on a train? Mind the GAAP.
 
https://parade.com/1317763/jessicasager/accounting-jokes/

One Big Beautiful Bill Act: Tax Deductions for Woking Americans and Seniors, Internal Revenue Service

IRS Staff Cuts Could Put Burden on Practitioners to Explain OBBBA, Association of International Certified Professional Accountants

Long's IRS Era: Implementing the 'Big Beautiful Bill' and Agency's Culture Shift, The Trusted Professional

Expert: OBBBA Does Not End Tax Credits Right Away, The Trusted Professional

Congress Passes Act Allowing Tax Relief When a State Declares Disaster, Association of International Certified Professional Accountants

National Taxpayer Advocate Issues Mid-Year Report to Congress, Internal Revenue Service

TIGTA: IRS Reduces Workforce by 25 Percent, Jeopardizing Upcoming Filing Season,The Trusted Professional

IRS Withdraws Proposed Regulation on Built-In Gains and Losses Under Section 382,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.

 

 

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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.