Latest Articles

  • Lawmakers Negotiating Taxes to Support $3.5T Budget Plan

    By:
    Chris Gaetano
    |
    Aug 30, 2021
    Though Congress approved the $3.5 trillion spending plan that supports the administration's current priorities, the hard part is far from over, as lawmakers are now negotiating the blueprint's particulars, especially the taxes that will support the plan. 
  • NYC Council to Raise Consumer Affairs Fines for First Time in 52 Years

    By:
    Chris Gaetano
    |
    Aug 30, 2021
    For the first time in more than half a century, the New York City Council voted to increase fines for price gouging and false advertising on local businesses. 
  • Supreme Court Strikes Down Latest Eviction Moratorium

    By:
    Ruth Singleton
    |
    Aug 27, 2021
    The U.S. Supreme Court issued a decision Thursday night striking down an executive order that extended the Center for Disease Control and Prevention (CDC)’s eviction moratorium through Oct. 3. President Joe Biden issued that executive order on Aug. 3. The high court ruled that the CDC exceeded its authority because Congress had not enacted any authorizing legislation.
  • Treasury Official Says Proposed $1M Capital Gains Threshold Would Be Same for Both Couples and Individuals

    By:
    Chris Gaetano
    |
    Aug 26, 2021
    A Treasury Department official confirmed that the $1 million threshold at which the proposed capital gains increase would kick in would be the same for both married and single filers, giving single people an advantage, as it will take longer for them to reach it. 
  • Investment Coach Sentenced to Two Years for Creating Fake Companies to Get PPP Funds

    By:
    Chris Gaetano
    |
    Aug 26, 2021
    Mukund Mohan, who describes himself on Twitter as "(likely) the world's most stupid person," has been sentenced to two years in prison for using fictitious companies to gain $1.8 million worth of Paycheck Protection Program funds. 
  • House Passes $3.5T Budget Blueprint

    By:
    Chris Gaetano
    |
    Aug 25, 2021
    The House of Representatives narrowly passed the $3.5 trillion budget blueprint by a 220-212 vote that paves the way for Senate approval without GOP support. 
  • SEC Chair Gensler Says He Is Serious About Delisting Chinese Firms

    By:
    Chris Gaetano
    |
    Aug 25, 2021
    Lest anyone think otherwise, Securities and Exchange Commission (SEC) Chair Gary Gensler made it clear that he fully intends to keep the three-year deadline that foreign companies have, particularly Chinese ones, to submit to regulated audit requirements or else face delisting. 
  • Kathy Hochul Sworn in as New York Governor

    By:
    Chris Gaetano
    |
    Aug 24, 2021
    Kathy Hochul was formally sworn in as the governor of New York, replacing her departing predecessor Andrew Cuomo to become the first woman to hold the role. 
  • Two PCAOB Members Announce Their Resignations

    By:
    Chris Gaetano
    |
    Aug 24, 2021
    Two members of the Public Company Accounting Oversight Board (PCAOB) announced that they will be resigning their seats. 
  • Regulatory Roundup - Aug. 17-23

    By:
    Chris Gaetano
    |
    Aug 23, 2021
    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.