• How to Get Your LinkedIn Profile Ignored by Recruiters

    By:
    Chris Gaetano
    |
    Jun 12, 2017
    Professional recruiters spend a lot of time reading through profiles on LinkedIn. In a recent article in FastCompany, some of them discuss the biggest mistakes they see in how people construct these profiles. 
  • House Passes Dodd-Frank Rollback

    By:
    Chris Gaetano
    |
    Jun 9, 2017
    The House of Representatives passed a bill that, if implemented, would roll back certain key provisions of the Dodd-Frank Act. 
  • Speaker: Local Govts. Challenged by Sluggish Property Tax Revenue Growth

    By:
    Chris Gaetano
    |
    Jun 9, 2017
    Six years after the establishment of the property tax cap in New York state, local government entities struggle with finding adequate revenues at a time of increasingly uncertain federal and state aid levels. 
  • Speaker: Audit Quality Remains Poor for Employee Benefit Plans, May Have Gotten Worse

    By:
    Chris Gaetano
    |
    Jun 8, 2017
    Acting Chief Accountant of the Department of Labor Michael Auerbach said today that, despite efforts to improve the quality of employee benefit plan audits stretching back to the late 80s, audit quality today is no better than when they first started, and in fact might even be worse. 
  • Speaker: Retirement Plan Litigation on the Rise

    By:
    Chris Gaetano
    |
    Jun 8, 2017
    Avery Neumark, the Partner-in-Charge of the firm’s Employee Benefits and Executive Compensation practice at RSSM, said at today's Employee Benefits Conference that there's been a wave of lawsuits against both private and not-for-profit entities about the quality of their retirement plans.

  • Society Honors Best Financial Reporting of 2016 at EFJ Awards Luncheon

    By:
    Ruth Singleton
    |
    Jun 8, 2017

    At the NYSSCPA’s 34th Annual Excellence in Financial Journalism Awards luncheon on June 8, the Society honored some of 2016’s best financial journalism and the reporters and other professionals who produced it.  Richard Tofel, the president of Pro Publica, an independent, nonprofit organization that produces investigative journalism in the public interest, served as the luncheon’s keynote speaker. He spoke before an audience of approximately 35 journalists, editors and awards judges at the Tribeca Grill in New York City

  • Society Supports Legislation Requiring Mandatory Peer Review for All Firms

    By:
    Ruth Singleton
    |
    Jun 8, 2017

    New York State is the only state in the country that does not require mandatory peer review for all CPA firms that take on attest engagements for clients. The NYSSCPA is advocating for legislation (S6026A/A7895A), now pending in both chambers of the state Legislature, to change that. 

  • IRS Rolls Out Revamped FATCA Registration System

    By:
    Chris Gaetano
    |
    Jun 7, 2017
    After four years of delays, the IRS officially launched its now-revamped registration system for foreign financial institutions to comply with the Foreign Account Tax Compliance Act. 
  • Study: 39 Percent of Workday Spent on Actual Work

    By:
    Chris Gaetano
    |
    Jun 7, 2017
    A survey of 600 knowledge workers at large companies has found that 39 percent of the workday is spent performing primary job duties, with other time filled up mostly with attending meetings and catching up on emails. 
  • New Society Committee Focuses on Accounting Education for Next Generation

    By:
    Chris Gaetano
    |
    Jun 6, 2017
    From new technology to shifting client demands, the accounting profession has found itself in a period of rapid change, and accounting education has to change with it. In order to meet the challenges that come with these changes, the NYSSCPA has formed a new Academic Advancement and Higher Education Committee, which aims to bring together all stakeholders in the education of the next generation of CPAs.
  • SCOTUS Limits SEC's Ability to Seek Disgorgement of Illegal Profits

    By:
    Chris Gaetano
    |
    Jun 6, 2017
    The Supreme Court of the United States, in a unanimous ruling, limited the power of the Security and Exchange Commission to seek disgorgement of profits gained through illegal activity. 
  • Regulatory Roundup - May 31 to June 6

    By:
    Chris Gaetano
    |
    Jun 6, 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.
     
  • NYS Revises Audit Response Form, Issues Clarifying Letter, in Response to Preparer Concerns

    By:
    Chris Gaetano
    |
    Jun 6, 2017
    New York State Department of Taxation and Finance Acting Commissioner Nonie Manion has sent a letter explaining the reasoning behind some of its audit notices in response to concerns raised by the preparer community. 
  • Court Rules Against IRS PTIN Fees

    By:
    Chris Gaetano
    |
    Jun 5, 2017
    A federal court has ruled that while the IRS can require the use of Preparer Tax Identification Numbers (PTIN), it cannot charge fees to get one, ending the $175 million class action lawsuit that been fighting the service on this issue since 2014. 
  • 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. 

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