• Average Person Spends $5,400 on Impulse Buys Each Year

    By:
    Chris Gaetano
    |
    Feb 23, 2018
    Whether online or on the streets, we all make impulse purchases from time to time. While the calculations in our head may tell us it doesn't make that big a difference, a recent study says that, over the course of a year, those impulse purchases add up to about $5,400 on average. 
  • Economic Study Finds Statistical Backing for Peter Principle

    By:
    Chris Gaetano
    |
    Feb 23, 2018
    The Peter Principle is the idea that, in any hierarchical organization, competent workers are promoted until they reach a position where they are no longer competent, a concept that is used to explain poor management in many sectors of the economy. An upcoming study from the National Bureau of Economic Research backs this idea by finding that the better someone is at sales, the worse they will be at managing others salespeople.
  • IRS to CPAs: Stop Referring Clients to the E-Help Desk!

    By:
    Chris Gaetano
    |
    Feb 22, 2018
    The IRS is emphasizing that the e-help desk is for tax professionals only, and that if people keep sending their clients there, it just means longer wait times for everyone. 
  • SCOTUS Rules: Want Whistleblower Protections? Go to SEC First

    By:
    Chris Gaetano
    |
    Feb 22, 2018
    The Supreme Court of the United States has ruled that the whistleblower protections implemented as part of the Dodd-Frank Act only apply if someone reported the fraud to the Securities and Exchange Commission. 
  • Poll: 26 Percent Don't Even Know a Tax Bill Was Passed

    By:
    Chris Gaetano
    |
    Feb 21, 2018
    With the new tax bill dominating the minds of CPAs across the country, it may surprise them to know that, according to a recent poll, 26 percent of Americans don't even know that there was a bill in the first place. 
  • Survey Finds Roughly 1 in 5 Lie to Boss About Physical and Mental Health Issues

    By:
    Chris Gaetano
    |
    Feb 21, 2018
    A survey of 1,000 U.S. workers has found that a sizable number of them, about 1 in 5, keep physical and mental health issues from their bosses. 
  • Ethics CPE Changes Put on Hold

    By:
    Ruth Singleton
    |
    Feb 21, 2018

    New York state’s ethics continuing professional education (CPE) requirement will remain unchanged for the 2018 year because the State Board for Public Accountancy did not submit for approval proposed rule changes to the Board of Regents in 2017.

  • Society Forms Ad Hoc Committee to Address NYS Responses to New Tax Law

    By:
    Ruth Singleton
    |
    Feb 20, 2018
    The NYSSCPA has formed a Tax Cuts and Jobs Act (TCJA) Ad Hoc Committee in response to the new federal tax law. The committee, chaired by Kevin J. McCoy, has as its mission “to review and analyze proposed changes that may develop in New York tax regimes and policy as [a] result of impacts of the federal Tax Cuts and Jobs Act.”
  • Proposed Rule Would Expand Use of Short-term Health Plans Outside Purview of Obamacare Regs

    By:
    Chris Gaetano
    |
    Feb 20, 2018
    The Health and Human Services Department has proposed rule changes that, if implemented, would expand the use of short-term health insurance plans, which are outside the scope of many Obamacare regulations. 
  • Gov. Cuomo Lays Out 30-Day Budget Amendments, Includes SALT Fixes

    By:
    Chris Gaetano
    |
    Feb 20, 2018
    New York Governor Andrew Cuomo, through a set of 30-day budget amendments, has formally laid out a set of proposed fixes to address the new cap on state and local tax (SALT) deductions imposed by the recent Republican tax bill. 
  • Regulatory Roundup: Feb. 14-20

    By:
    Chris Gaetano
    |
    Feb 20, 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 ​​announcements from the past week, and puts them in one place to help you stay on top of the issues.
  • Kyle Moffatt Named as New SEC Chief Accountant of Corporate Finance

    By:
    Chris Gaetano
    |
    Feb 16, 2018
    The Securities and Exchange Commission announced that it has named Kyle Moffatt as its new Chief Accountant in the Division of Corporate Finance.  
  • Attorneys Predict Divorces to Become More Acrimonious in Wake of New Tax Law

    By:
    Chris Gaetano
    |
    Feb 16, 2018
    A survey of matrimonial attorneys has found that most believe that a provision of the tax bill the Republicans passed in December will make divorce, already not exactly a harmonious process, even more acrimonious. 
  • Demand for Financial Advisers Outpacing Supply

    By:
    Chris Gaetano
    |
    Feb 15, 2018
    Using Bureau of Labor Statistics forecasts, trade and professional association data, graduation rates, and its own database of job listings, CareerCast.com has said that there are more openings for financial advisers than there are qualified people to fill them. 
  • U.S. Bank Settles $613 Million Over Severely Flawed Anti-Money Laundering Program

    By:
    Chris Gaetano
    |
    Feb 15, 2018
    U.S. Bank, one of the largest banks in America, has agreed to a $613 million settlement over allegations that, despite repeated warnings, its anti-money laundering program was woefully insufficient against detecting and reporting suspicious transactions. 
  • President Calls for Additional Oversight of Paid Tax Preparers, Specific Plan Forthcoming

    By:
    Chris Gaetano
    |
    Feb 14, 2018
    The president, in his budget proposal document, has called for additional powers for the IRS to oversee paid tax preparers. 
  • Study Posits Direct Link Between Soft Skills, Productivity

    By:
    Chris Gaetano
    |
    Feb 14, 2018
    A recent study has found that Indian garment workers who received soft skills training were more productive than those who did not, suggesting a direct link between the two phenomena. 
  • Well-being Stalls or Worsens Across the Country

    By:
    Chris Gaetano
    |
    Feb 13, 2018
    A Gallup survey has found that general well-being across the U.S. has stalled or, in some cases, even gotten worse. 
  • NY Governor's Proposed Payroll Tax Would Be Opt-In

    By:
    Chris Gaetano
    |
    Feb 13, 2018
    New York Governor Andrew Cuomo has formally proposed a set of budget amendments that, among other things, would create an optional payroll tax on employers as a way to blunt the impact of the federal SALT deduction cap. 

     

  • Regulatory Roundup - Feb. 7-13

    By:
    Chris Gaetano
    |
    Feb 13, 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 ​​announcements from the past week, and puts them in one place to help you stay on top of the issues.

Click here to see more of the latest news from the NYSSCPA.