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Supreme Court Rules That States Can Tax Online Retailers Without Physical Presence
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Read the June/July 2018 Issue (pdf)
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NYS Passes Bill Mandating CPE for New CPAs
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IRS Releases Draft of Postcard-Sized Form 1040
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Melancon Speaks About Alternate Paths to CPA

Latest Articles

  • Demand for Warehouse Space Skyrocketing as Internet Shopping Grows

    By:
    Chris Gaetano
    |
    Jul 12, 2018
    While shopping online can seem like a purely ones-and-zeroes affair, behind all our clicks remains a vital physical component that makes it all possible: warehouses. As people turn away from brick and mortar establishments and towards the Internet for their shopping, warehouses are struggling to meet skyrocketing demand for space to store all these goods people are ordering. 

  • Federal Reserve Suggests Tempering Expectations for Tax Cuts

    By:
    Chris Gaetano
    |
    Jul 11, 2018
    While the Tax Cuts and Jobs Act signed late last year was done to boost economic growth, the Federal Reserve Bank of San Francisco suggested that we should keep our expectations in check, saying that forecasts could be overly optimistic. 

  • Study: Cryptocurrency Startups Live Fast, Die Young

    By:
    Chris Gaetano
    |
    Jul 11, 2018
    A recent economic study found that the majority of cryptocurrency startups don't make it past 120 days but, at the same time, they can still generate enormous profits for their founders. 

  • California Town Experiments With Giving People Money No Strings Attached

    By:
    Chris Gaetano
    |
    Jul 10, 2018
    Stockton, California will be the first city in the U.S. to experiment with a basic income system, selecting 100 residents to receive $500 a month with no strings attached and seeing what happens. 

  • Technical Error in TCJA Makes Renovations for Retailers Even More Onerous Than Before

    By:
    Chris Gaetano
    |
    Jul 10, 2018
    A measure in the new tax law meant to make it easier for retailers to renovate their stores has, paradoxically, made things even more difficult than before due to a technical error that will require legislation to fix. 

  • Regulatory Roundup: July 4-10

    By:
    Chris Gaetano
    |
    Jul 10, 2018
    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. 

  • Study: People Talk Less, Email More When Office Switches to Open Floor Plan

    By:
    Chris Gaetano
    |
    Jul 9, 2018
    A recent study found that, far from encouraging face-to-face communication, open office plan configurations are linked with workers emailing each other more, which researchers believe comes from a need to preserve privacy. 

  • IRS Provided Tax Relief to 99 Percent of Hurricane Victims Who Qualified

    By:
    Chris Gaetano
    |
    Jul 9, 2018
    The Treasury Inspector General for Tax Administration said in a recent report that, overall, the IRS seems to have done a good job in implementing tax relief for hurricane victims, saying that it was able to provide at least some relief to 99 percent of qualifying taxpayers. 

  • IRS Begins Denying Passports to Thousands of Americans with Overdue Tax Debt

    By:
    Ruth Singleton
    |
    Jul 6, 2018

    The IRS has started to enforce a 2015 law requiring it to coordinate with the State Department to deny or revoke passports for taxpayers with more than $51,000 of overdue tax debt. The IRS reports that there are more than 362,000 Americans who will be denied new or renewed passports if they don’t pay off these debts.

  • Credit Suisse to Pay $77 Million to Settle SEC, DOJ Bribery Charges

    By:
    Ruth Singleton
    |
    Jul 5, 2018

    Credit Suisse Group AG will pay roughly $30 million to resolve charges that it obtained investment-banking business in the Asia-Pacific region by awarding employment to friends and family of Chinese officials, in violation of the Foreign Corrupt Practices Act (FCPA), the Securities and Exchange Commission announced today. The bank also agreed to pay a $47 million criminal penalty to the U.S. Department of Justice to resolve related charges.
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