Latest Articles

  • Study Finds Cutting Unemployment Benefits Results in Major Spending Reductions

    By:
    Chris Gaetano
    |
    Aug 11, 2020
    A recent study published by the National Bureau of Economic Research has found that cutting the federal supplements to state unemployment insurance payments sharply reduces spending, which is bad news for the businesses they would have otherwise patronized.
  • New IRS Regs Provide Safe Harbors on SALT Deduction Cap

    By:
    Chris Gaetano
    |
    Aug 11, 2020
    The IRS released new regulations that provide safe harbors for charitable contributions to state entities made by those expecting to reduce their state and local tax burden.
  • Regulatory Roundup - Aug. 4-10

    By:
    Chris Gaetano
    |
    Aug 10, 2020
    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.     
  • White House Attempts to Bypass Congress on Stimulus Measures

    By:
    Chris Gaetano
    |
    Aug 10, 2020
    The president followed through on his threat to take unilateral action if Congress could not reach a deal on the next round of pandemic stimulus aid, issuing four executive orders  that, at least some observers say, won't be very effective, if they're even legal.
  • IRS Pushes Back Deadline for Excise Tax Filings on Sport Fishing and Archery Equipment

    By:
    Chris Gaetano
    |
    Aug 10, 2020
    The IRS announced that the filing date for excise taxes relating to sports fishing and archery equipment has been pushed back to October.
  • White-Collar Crime Enforcement at All-Time Low

    By:
    Chris Gaetano
    |
    Aug 10, 2020
    The first three years of the Trump administration have seen plunging enforcement of laws governing white-collar financial crimes, compared to enforcement of such laws during the Obama administration.
  • COVID-19 Expands Ranks of Persistently Unemployed

    By:
    Chris Gaetano
    |
    Aug 10, 2020
    Americans are not only losing their jobs during the pandemic but also having a lot of trouble finding new ones, as, over the past few months, growing numbers have transitioned out of the short-term unemployed category and into more dire territory.
  • Hopes for Stimulus Deal on Thin Ice as Senators Fly Home

    By:
    Chris Gaetano
    |
    Aug 7, 2020
    Senators flew home last night, leaving the last remaining hope for a stimulus deal this week to the House and the White House, with the two sides having yet to overcome the wide gulf between them.
  • Report Shows 1.7 Million Job Gains in July

    By:
    Chris Gaetano
    |
    Aug 7, 2020
    Federal government figures show that the United States added 1.7 million jobs in July, and while this sum was higher than expected, it still stands as a stark sign that the nascent economic recovery may be in trouble, as it is noticeably smaller than the 4.7 million gain made in June.
  • Sen. Sanders Proposes One-Time 60 Percent Tax on Billionaire Wealth Gains During Pandemic

    By:
    Chris Gaetano
    |
    Aug 7, 2020
    Former presidential candidate Sen. Bernie Sanders (I-Vt.) has proposed a bill that would impose a one-time 60 percent wealth tax on billionaires that would go toward paying Americans' out-of-pocket health care expenses for one year.