• Identity Fraud Cases Hit Record High

    By:
    Chris Gaetano
    |
    Feb 8, 2018
    Last year saw identity fraud cases reach record highs, a development likely related to the Equifax breach that exposed the personal information of 145 million Americans. 
  • Feds Bust Online Fraud Tool Bazaar, Linked to Half Billion in Damage From Users

    By:
    Chris Gaetano
    |
    Feb 8, 2018
    The Department of Justice indicted dozens of administrators, moderators and sellers connected with the online market Infraud, which acted as a one-stop shop for every cybercrime cliche out there. 
  • Tax Attorney To Be Nominated to be New IRS Head

    By:
    Chris Gaetano
    |
    Feb 7, 2018
    The administration plans to formally nominate California-based tax attorney Charles “Chuck” Rettig to head the IRS, who would replace acting head David Kautter. 
  • Revised UAA Offers New Rules for Retired CPAs, CPE, Foreign Credentials

    By:
    Chris Gaetano
    |
    Feb 6, 2018
    The AICPA and NASBA have released an updated version of the Uniform Accountancy Act (UAA), model legislation that serves as a guide for state regulators. The updated version allows for a new "Retired CPA" designation, removes the mutual recognition requirement for substantially equivalent foreign designations, and dramatically changes CPE standards. 
  • Federal Reserve Bank Grants Conditional Approval for Credit Union Serving Legal Marijuana Business

    By:
    Chris Gaetano
    |
    Feb 6, 2018
    The Federal Reserve Bank of Kansas has granted tentative approval for a credit union to serve professionals associated with Colorado's legal marijuana industry. 
  • Regulatory Roundup: Jan. 31-Feb. 6

    By:
    Chris Gaetano
    |
    Feb 6, 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.
  • IRS Identifies New Tax Scam

    By:
    Chris Gaetano
    |
    Feb 5, 2018
    The IRS has warned taxpayers and the CPAs who serve them to be on the lookout for a new scam that has a more legitimate appearance than many that have come before it. 
  • Study: Employee Engagement Doesn't Always Protect from Stress, Burnout

    By:
    Chris Gaetano
    |
    Feb 5, 2018
    A recent study from the Yale Center for Emotional Intelligence has found that employee engagement is not guaranteed protection against stress and burnout and, indeed, some of the most engaged employees are also the most harried and overextended. 
  • CEOs Brace Themselves for New Pay Ratio Rule

    By:
    Chris Gaetano
    |
    Feb 2, 2018
    CEOs are bracing themselves for the implementation of a new rule that requires that companies report the ratio between their pay and their rank and file workers. 
  • Study: Idleness Costs Companies $100B a Year

    By:
    Chris Gaetano
    |
    Feb 2, 2018
    A recent study has found that idle time at work when there's nothing to do costs about $100 billion to companies per year. 
  • Study: Standing Desks Burn About an Orange's Worth of Calories Per Day

    By:
    Chris Gaetano
    |
    Feb 1, 2018
    If you've got a standing desk, congratulations! A recent study has found you can eat one orange per day without any guilt, as standing for six hours burns about 54 calories. 
  • Tax Bill's Impact Means Debt Ceiling Limit Reached 1 Month Early

    By:
    Chris Gaetano
    |
    Feb 1, 2018
    A tax cut means less money for the government, which means less money for the government to pay its debts, which means that the federal debt limit will now be reached one month earlier than previous estimates. 
  • Speaker: SALT Workarounds Unlikely to Work as Planned

    By:
    Chris Gaetano
    |
    Jan 31, 2018
    While state governments are laboring to enact workarounds to the new $10,000 limit on state and local tax (SALT) deductions, attorney Mark Klein, a speaker at the Foundation for Accounting Education's conference "Impact of the New Tax Law: a Sid Kess Workshop," said it's unlikely that they will actually work the way they're intended.
  • Speaker: New Corporate Tax Rate Has Hidden Catches

    By:
    Chris Gaetano
    |
    Jan 31, 2018
    The new tax law enacted in December swapped out a graduated corporate tax rate topping out at 35 percent with a flat 21 percent rate across the board. While this provision, combined with the elimination of the corporate alternative minimum tax (AMT), might seem to have simplified matters considerably, attorney Jerald David August, a tax partner at Kostelanetz & Fink, LLP, who spoke at the Foundation for Accounting Education's conference "Impact of the New Tax Law: a Sid Kess Workshop" today, pointed out some complicating factors.
  • SEC Halts $600M Initial Coin Offering, Says Company Misrepresented Itself to Investors

    By:
    Chris Gaetano
    |
    Jan 30, 2018
    The Securities and Exchange Commission, for the first time, halted an initial coin offering (ICO), which is a sort of IPO for cryptocurrencies, saying that the company made many materially false statements to raise $600 million in just two months. 
  • NYS Sales Tax Collection at Five-Year High

    By:
    Chris Gaetano
    |
    Jan 30, 2018
    New York State Comptroller Thomas DiNapoli reported that sales tax collection grew by nearly 4 percent this year, the highest collection rate since 2013. 
  • Regulatory Roundup: Jan. 24-30

    By:
    Chris Gaetano
    |
    Jan 30, 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.
  • IRS Filing Season Begins Today

    By:
    Chris Gaetano
    |
    Jan 29, 2018
    The IRS is now accepting returns, as the filing season formally begins today. 
  • Governors of NY, NJ and CT Announce Plans to Sue Federal Govt. Over New Tax Law

    By:
    Chris Gaetano
    |
    Jan 29, 2018
    The governors of New York, New Jersey and Connecticut have announced that they plan to sue the federal government over the SALT deduction cap, which they say unfairly discriminates against Democratic-leaning states. 
  • SEC May Seek to Immunize Company IPOs from Investor Lawsuits

    By:
    Chris Gaetano
    |
    Jan 26, 2018
    The Securities and Exchange Commission is said to be quietly exploring new rules that would make companies selling shares in an initial public offering effectively immune from investor class action lawsuits, forcing them instead into arbitration. 

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