• Study: Fewer Teens Working Summer Jobs

    By:
    Chris Gaetano
    |
    Jun 5, 2017
    A recent analysis by the Bureau of Labor Statistics finds that the summer job, once a rite of passage for teens across the country, has been on the decline, dropping 10 percent since 2006 and 27 percent since 1989. 
  • IRS Will Cease Accepting Checks for Certain Rulings

    By:
    Chris Gaetano
    |
    Jun 2, 2017
    Starting August 15 the IRS will no longer be accepting checks from people seeking letter rulings, closing agreements and certain other rulings. 
  • Study: For Job Networking, Quality Counts Over Quantity

    By:
    Chris Gaetano
    |
    Jun 2, 2017
    While previous research found that large numbers of weak networking ties were best for finding a new job, more recent studies have found that, because of the Internet, the opposite is now best: smaller numbers of strong ties with former co-workers who can vouch for you. 
  • PCAOB Passes Expanded Auditor's Reports

    By:
    Chris Gaetano
    |
    Jun 1, 2017
    The Public Company Accounting Oversight Board (PCAOB) unanimously passed a measure today that will expand the auditor's report to include, among other things, certain Critical Audit Matters, which are intended to inform which will inform investors and other financial statement users of matters arising from the audit that required especially challenging, subjective, or complex auditor judgment, and how the auditor responded. 
  • Poll: CPAs Optimistic on Economy, Remain Concerned About Cost, Availability of Talent

    By:
    Chris Gaetano
    |
    Jun 1, 2017
    A survey of 726 financial executives conducted by the AICPA has found that CPAs are generally positive about the economy, but are worried about rising wage and benefit costs, as well as the availability of new talent. 
  • TIGTA: IRS Automated Non-Master File Rife with Errors

    By:
    Chris Gaetano
    |
    May 31, 2017
    The Treasury Inspector General for Tax Administration (TIGTA)  said that the IRS's Automated Non-Master File, which provides information regarding individual and business taxpayer accounts that, because of system limitations, cannot be processed through the Master File, contains numerous calculation errors that have resulted in incorrect assessment of penalties for thousands of accounts. 
  • Business Lunches on the Decline

    By:
    Chris Gaetano
    |
    May 31, 2017
    An article in the Wall Street Journal says that fewer people these days spend their lunch breaks at restaurants, both driving and reflecting changes in workplace cultures. 
  • Use a Credit Card at Chipotle? Your Information May Have Been Stolen

    By:
    Chris Gaetano
    |
    May 30, 2017
    Burrito chain Chipotle warned people that the payment systems in most of its restaurants have been compromised by malware that lifts information from credit and debit cards used there. 
  • PCAOB to Consider Changes to Standard Auditor's Report

    By:
    Chris Gaetano
    |
    May 30, 2017
    The Public Company Accounting Oversight Board (PCAOB) announced that it plans to consider possible changes to the standard auditor's report that will mandate the inclusion of additional information. 
  • Regulatory Roundup: May 24 to May 30

    By:
    Chris Gaetano
    |
    May 30, 2017
    ​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.
  • CBO: AHCA Would Save $119 Billion Net, Increase Uninsured by 23 Million

    By:
    Chris Gaetano
    |
    May 25, 2017
    The Congressional Budget Office, calculating the effects of the American Health Care Act, estimates that the bill would save about $119 billion net over a decade ($1.1 trillion in reduced spending minus $992 in reduced revenues) and cause 23 million people to go uninsured over that same time period. 
  • TIGTA: More Than Half of Those Receiving Health Coverage Tax Credit Were Ineligible

    By:
    Chris Gaetano
    |
    May 25, 2017
    The Treasury Inspector General for Tax Administration said that about 57 percent of those the IRS sent Health Coverage Tax Credits to had characteristics that should have disqualified them from the program. 
  • Uber Makes Gross Accounting Error, Owes Drivers Tens of Millions

    By:
    Chris Gaetano
    |
    May 24, 2017
    Rideshare company Uber announced it will be paying its drivers tens of millions of dollars after discovering an accounting error that led the company to take its cut from the gross pay, instead of the net pay as outlined in the terms of service. 
  • Fiduciary Rule Spared the Ax, Will Go Into Effect 2018

    By:
    Chris Gaetano
    |
    May 24, 2017
    An Obama-era labor regulation mandating that retirement investment advisers be bound by fiduciary versus suitability rules will go into effect 2018 despite previous hints from the administration that it would be cancelled. 
  • Regulatory Roundup: May 17-23

    By:
    Chris Gaetano
    |
    May 23, 2017
    ​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.
  • Speaker: Hackers Are on the Offensive, Have Time on Their Side

    By:
    Chris Gaetano
    |
    May 23, 2017
    Andrew Pak, assistant U.S. attorney and computer hacking and intellectual property coordinator in the District of New Jersey, walked his audience at the Foundation for Accounting Education's (FAE) Forensic Accounting and Litigation Services Conference today through the many tools and methods used by criminal hackers across the world and shared some of his tips on how CPAs and their clients can protect themselves. 
  • Speaker: Professional Skepticism Can, Must Be Cultivated

    By:
    Chris Gaetano
    |
    May 23, 2017
    Salvatore Collemi, a CPA with years of external auditing experience under his belt, told his audience at the Forensic Accounting and Litigation Service Conference on May 23 that professional skepticism is severely lacking in today's business environment, but that it can be cultivated. 
  • Study: Alumni Connections to Corporate Boards Help Men Three Times More Than Women

    By:
    Chris Gaetano
    |
    May 22, 2017
    While having alumni connections on corporate boards is a great asset no matter who you are, a recent study says that men benefit about three times more than women. 
  • SEC Accuses Man of Making Bogus Regulatory Filing to Manipulate Stock Price

    By:
    Chris Gaetano
    |
    May 22, 2017
    The Securities and Exchange Commission said that a Virginia-based mechanical engineer concocted an elaborate scheme to make it look like the CFO of a major investment company was making a tender offer for Fitbit stock in order to drive up the price. 
  • IRS Commissioner: ID Theft Cases Dropped Nearly Half

    By:
    Chris Gaetano
    |
    May 19, 2017

    IRS Commissioner John Koskinen, in a recent speech, said that the number of people reporting to the IRS that they were victims of identity theft declined by 46 percent between 2015 and 2016, which he said as a sign that ongoing efforts to stop people from filing false returns are working. 

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