The Trusted Professional | NYSSCPA

 
 
Gov. Hochul Signs Non-CPA Ownership Bill into Law
Read the March/April Issue
IRS to Waive $1B in Some Late Payment Penalties
2024 to Be a Demanding Year for Internal Auditors
SEC OKs Audit Confirmation Standards

Latest Articles

  • Regulatory Roundup: February 18-24

    By:
    Karen Sibayan
    |
    Feb 24, 2025
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYCPA'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 Begins Mass Layoffs, Cutting 7,000 Jobs Amid Tax Season

    By:
    Emma Slack-Jorgensen
    |
    Feb 21, 2025
    The IRS has begun laying off thousands of probationary employees, a move that is expected to significantly impact the agency’s operations during tax season. Approximately 7,000 workers—about 7% of the IRS workforce—are losing their jobs, with 5,000 of the cuts coming from enforcement and collections. 

  • Report: Accounting Industry Sees Major Hiring and Salary Growth in 2024

    By:
    Emma Slack-Jorgensen
    |
    Feb 20, 2025

    A new report from global HR and payroll firm Deel released Feb. 20 reveals that accountants experienced the highest hiring and salary growth of any profession in 2024. Hiring for accountants surged by 74%, while salaries increased by 15%, outpacing even software engineers—traditionally on elf the most in-demand professions. 

  • FinCEN Sets March 21 Deadline for BOI Reporting After Court Lifts CTA Injunction

    By:
    Karen Sibayan
    |
    Feb 19, 2025
    Given the Feb. 18 ruling of the U.S. District Court for the Eastern District of Texas in Smith v. U.S. Department of Treasury, beneficial ownership information reporting requirements under the Corporate Transparency Act are back in effect, the Financial Crimes Enforcement Network said.

  • IRS Faces Potential Layoffs Amid Tax Season, Raising Concerns

    By:
    Emma Slack-Jorgensen
    |
    Feb 19, 2025

    Despite previous assurances that buyouts and layoffs would not take effect until after tax season, the IRS is reportedly preparing to lay off thousands of first-year probationary employees. These cuts come as part of the Trump administration’s broader federal workforce reduction efforts.

  • Regulatory Roundup: February 11-17

    By:
    Karen Sibayan
    |
    Feb 18, 2025
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYCPA'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.

  • AICPA, NASBA Propose UAA Changes Amid Various States Exploring New Pathways to CPA Licensure

    By:
    Emma Slack-Jorgensen
    |
    Feb 14, 2025

    The AICPA and NASBA are advancing proposed changes to Uniform Accountancy Act (UAA), introducing another alternative path to CPA licensure that allows candidates to qualify with a bachelor’s degree plus two years of experience. This proposal aims to address workforce shortages while maintaining professional integrity and public protection. The associations are soliciting feedback on the proposed UAA language with a comment period lasting 60 days.

  • AICPA and NASBA Release Feedback Expressing Concerns About Their Proposed Competency-Based Pathway and UAA

    By:
    Emma Slack-Jorgensen
    |
    Feb 14, 2025
    The AICPA and the National Association of State Boards of Accountancy have gathered extensive feedback on their proposed changes to CPA licensure requirements. Various stakeholders expressed concerns about the proposed competency-based pathway, prompting the associations to table this pathway for now. The associations also said the concerns about the UAA Exposure Draft, "will need to be addressed to gain broader support for the proposed revisions."

  • Accounting Firms Hire Growth Leaders as Dealmaking Increases

    By:
    Karen Sibayan
    |
    Feb 14, 2025
    An increasing number of accounting firms are hiring chief growth officers as small and midsize players in the profession are trying to stay competitive in the midst of fast-paced expansion and dealmaking.

  • House Passes Bill to Extend BOI Reporting Deadline

    By:
    Emma Slack-Jorgensen
    |
    Feb 13, 2025
    The U.S. House of Representatives unanimously passed the bill granting small businesses an extra year to comply with the Corporate Transparency Act’s beneficial ownership information reporting requirements. The bill, which now moves to the Senate, extends the deadline to Jan. 1, 2026.
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