Latest Articles

  • Poll: Americans Have Gloomy Outlook for 2019 Finances

    By:
    Chris Gaetano
    |
    Jan 14, 2019
    A recent poll has found that Americans are feeling pessimistic about their financial prospects in the new year, and many blame the government. 
  • NY Gov. Cuomo Nominates Michael Schmidt, Current Senior Economic Adviser, to Top Tax Post

    By:
    Chris Gaetano
    |
    Jan 14, 2019
    New York Governor Andrew Cuomo has nominated Michael Schmidt, currently his senior economic adviser, as the new commissioner of the state Department of Taxation and Finance. 
  • Regulatory Roundup: Jan. 8-15

    By:
    Chris Gaetano
    |
    Jan 14, 2019

    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.

  • FASB Announces Public Roundtable Discussion on Credit Loss Standard, Releases Q&A on Implementation

    By:
    Chris Gaetano
    |
    Jan 11, 2019
    The Financial Accounting Standards Board (FASB) announced that it will be seeking further public input on its standard on credit losses at a public roundtable event, and it released a Q&A document going over some of the more common concerns it has heard since the standard was approved in 2016. 
  • Tax Accountant Accused by NYC of Helping Run Illegal Airbnb Scheme

    By:
    Chris Gaetano
    |
    Jan 11, 2019
    In a recent lawsuit, New York City accused a Brooklyn tax accountant and a Manhattan real estate broker of using Airbnb to violate its ban on short-term rental apartments, which it says earned the pair $1.2 million over the past four years. 
  • CEO Turnover Highest In a Decade

    By:
    Chris Gaetano
    |
    Jan 10, 2019
    Last year, more CEOs left their positions than at any other time since 2008. 
  • UBS Whistleblower Fails to Show in Court, Declared a Fugitive

    By:
    Chris Gaetano
    |
    Jan 10, 2019
    A former employee of Swiss bank UBS, who is accused of selling client data to German tax authorities, failed to show up in court and therefore is considered a fugitive, though prosecutors have still called for a four-year prison term. 
  • Government Shutdown Means Companies Delaying IPO Plans

    By:
    Chris Gaetano
    |
    Jan 9, 2019
    With much of the Security and Exchange Commission's staff furloughed during the ongoing government shutdown, many companies have had to delay their plans to go public as there are not enough staff members to review and approve corporate registration statements, including IPO filings. 
  • Rare Penny Could Be Worth $1.7 Million

    By:
    Chris Gaetano
    |
    Jan 9, 2019
    While Americans throw out about $62 million in loose change a year, the expected sale of a rare penny for $1.7 million may cause some to reconsider. 
  • White House Says IRS to Issue Refunds During Shutdown

    By:
    Chris Gaetano
    |
    Jan 8, 2019
    The White House announced that the IRS will still be issuing tax refunds, even if the government shutdown continues through filing season.