Latest Articles

  • Treasury Secretary Says to Expect Postcard-Sized 1040

    By:
    Chris Gaetano
    |
    Jun 22, 2018
    Treasury Secretary Steve Mnuchin said that next week the department will issue the new Form 1040, which he says will be the size of a postcard. 
  • Social Security Payments Lost One-Third of Spending Power Since 2000

    By:
    Chris Gaetano
    |
    Jun 22, 2018
    A recent report says that Social Security payments don't go nearly as far as they used to, having lost about 34 percent of their buying power since the year 2000. 
  • Former Treasury Officials Say Federal Reserve Should Open Accounts for Individuals

    By:
    Chris Gaetano
    |
    Jun 21, 2018
    A recent paper authored by two former members of the Treasury Department called for the Federal Reserve Bank to allow individuals to open accounts, thereby encouraging financial inclusion by helping those without access to private banking services. 
  • Supreme Court Rules That States Can Tax Online Retailers Without Physical Presence

    By:
    Chris Gaetano
    |
    Jun 21, 2018
    The Supreme Court of the United States, in a 5-4 ruling, declared that state governments can tax online retailers even if there's no physical presence in the state. 
  • Wells Fargo Ethics Hotline Getting a Lot of Use

    By:
    Chris Gaetano
    |
    Jun 20, 2018
    Wells Fargo has reported that more employees are using its ethics hotline, indicating both that people are less afraid to report unethical activity and that unethical activity is still an issue for the bank. 
  • Americans Still Not Saving Enough, Despite Gains in Jobs

    By:
    Chris Gaetano
    |
    Jun 20, 2018
    Federal Reserve Chair Jerome Powell recently said that, given low unemployment, on-pace inflation targets and a "balanced" risk outlook, the economy makes a strong case for continued interest rate hikes. Despite these gains, however, a recent report found that almost a quarter of Americans have no savings at all. 
  • Momentum Against Big Four Builds in UK

    By:
    Chris Gaetano
    |
    Jun 19, 2018
    The United Kingdom's Financial Reporting Council, which regulates the audit profession, has found that Big Four firm KPMG is not performing work to an acceptable standard, exacerbating the already-tense relationship between the government and the Big Four in the wake of several high-profile audit failures. 
  • NY-Based Prometheum Aims to be First SEC-Compliant ICO Trade Platform

    By:
    Chris Gaetano
    |
    Jun 19, 2018
    Seeking to shed the anarchic reputation associated with many cryptocurrencies, the New York-based company Prometheum aims to be the first initial coin offering trading platform done in full compliance with all relevant Securities and Exchange Commission rules. 
  • Regulatory Roundup: June 13-19

    By:
    Chris Gaetano
    |
    Jun 19, 2018
    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 ‚Äč‚Äčannouncements from the past week, and puts them in one place to help you stay on top of the issues.      
  • AICPA's Melancon Raises Possibility of Alternate Pathways to Becoming CPA

    By:
    Chris Gaetano
    |
    Jun 18, 2018
    AICPA President and CEO Barry Melancon, in a recent speech, said that as the skills demanded by the industry change, becoming a CPA may involve alternate paths that reflect the increasingly tech-savvy nature of the profession.