Latest Articles

  • Most Financial Execs See Cybersecurity Costs Rising in 2021

    By:
    Chris Gaetano
    |
    Nov 24, 2020
    With the mass migration to remote work at many companies, a majority of finance leaders say they expect cybersecurity costs to rise next year.
  • IRS Issues Final Rules on Using Real Property in Like-Kind Exchanges

    By:
    Chris Gaetano
    |
    Nov 24, 2020
    The IRS has issued final regulations governing like-kind exchanges of real property, which includes, among other things, a set definition of real property.
  • IRS Has 1 Million Unprocessed Returns in Backlog, 3 Million Pieces of Unopened Mail

    By:
    Chris Gaetano
    |
    Nov 23, 2020
    Although 2020 is almost over, the IRS still has about 1 million 2019 returns to process, as well as 3 million pieces of unopened mail, due to logistical difficulties introduced by the pandemic.
  • Bronx Mall Sues Tenants Over $2.3 Million Back Rent

    By:
    Chris Gaetano
    |
    Nov 23, 2020
    Indicating a growing trend of troubled commercial real estate tenants, a mall in the Bronx has sued its tenants to try and get $2.3 million in rent that it says they owe.
  • PCAOB Swears in Megan Zietsman as Member

    By:
    Chris Gaetano
    |
    Nov 23, 2020
    The Public Company Accounting Oversight Board (PCAOB) formally swore in Megan Zietsman, who had previously been the organization's chief auditor, as a new board member to replace the outgoing James Kaiser.
  • Society Awards 2021: Call for Nominations

    By:
    Keith Lazarus, NYSSCPA Manager, Committees and Technical Resources
    |
    Nov 23, 2020
    Certified public accountants throughout New York state give generously of their free time to better their profession and to assist with community causes and projects in the public interest. The NYSSCPA recognizes these volunteer and professional commitments through an awards program designed to highlight outstanding service and to recognize professional development. Seven awards will be presented in 2021 to qualified CPAs who are Society members: the Arthur J. Dixon Public Service Award, the NYSSCPA Distinguished Service Award , the Dr. Emanuel Saxe Outstanding CPA in Education Award, the Outstanding CPA in Chapter Service Award, the Outstanding CPA in Government Award, the Outstanding CPA in Industry Award, and the Outstanding CPA in Public Practice Award.
  • PCAOB Board Member Brown Sole Dissent on Budget, Strategic Plan, Independence Votes

    By:
    Chris Gaetano
    |
    Nov 20, 2020
    The Public Company Accounting Oversight Board (PCAOB) approved its 2021 budget, its five-year strategic plan and a change to align the board's independence rules with those of the Securities and Exchange Commission (SEC). On all three measures, one board member, J. Robert Brown, was the sole dissenting voice.
  • Treasury Dept. Won't Renew Fed Lending Programs

    By:
    Chris Gaetano
    |
    Nov 20, 2020
    Treasury Secretary Steven Mnuchin will not renew the Federal Reserve's Main Street Lending Program, as well as its corporate credit and municipal credit lending facilities.
  • Business Groups Perturbed by New PPP Questionnaire

    By:
    Chris Gaetano
    |
    Nov 20, 2020
    Business groups are pushing back against a questionnaire about their applications for Paycheck Protection Program loan forgiveness, saying not only that it is burdensome and confusing for small businesses, but also that it hasn't  gone through the proper channels for approval.
  • U.S. DOL Reports 742,000 Initial Jobless Claims

    By:
    Chris Gaetano
    |
    Nov 19, 2020
    The U.S. Department of Labor reported that 742,000 people filed for initial jobless claims last week, about 31,000 more than the previous week's adjusted figures.