Latest Articles

  • Regulatory Roundup - March 14-20

    By:
    Chris Gaetano
    |
    Mar 20, 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 ‚Äč‚Äčannouncements from the past week, and puts them in one place to help you stay on top of the issues.
  • IRS Says Wrongly Incarcerated Taxpayers Have Extra Time to Claim Tax Break

    By:
    Chris Gaetano
    |
    Mar 19, 2018
    The IRS announced that a tax break for wrongly incarcerated taxpayers that had originally expired in 2016, will now have until the end of the year to claim it, and will even be able to do so retroactively. 
  • Emergency Room Care Costs Rose 30 Percent in Four Years

    By:
    Chris Gaetano
    |
    Mar 19, 2018
    Emergency medical care, hardly a discount deal in the U.S. as it is, has grown even more expensive in a short time, with bills ballooning 30 percent in just four years. 
  • Voluntary Disclosure Program, Set to End This Year, Has Made IRS Savvier on Tax Evasion

    By:
    Chris Gaetano
    |
    Mar 16, 2018
    The IRS's Offshore Voluntary Disclosure Program allows U.S. taxpayers to voluntarily resolve past noncompliance related to unreported foreign financial assets and failure to file foreign information returns. On the taxpayer side, this program has given tens of thousands of tax scofflaws the opportunity to come clean in exchange for a lesser punishment. On the IRS side of things, though, the program has provided the agency with an abundance of information on how wealthy people use offshore havens to evade taxes, knowledge it plans to use to hunt down those who didn't come forward when they had the chance. 
  • Middle-Aged Accountants Sue PwC On Age Discrimination

    By:
    Chris Gaetano
    |
    Mar 16, 2018
    A group of middle-aged accountants has filed a lawsuit against Big Four firm PwC claiming that its focus on campus recruitment represents age discrimination. 
  • NYS Offers Deadline Relief to Those Affected by Recent Storms

    By:
    Chris Gaetano
    |
    Mar 15, 2018
    The New York Department of Taxation and Finance announced that it will be pushing back some tax deadlines for those who have been affected by the storms that have ravaged the state the past few weeks. 
  • SEC Charges Theranos CEO, President with "Massive Fraud"

    By:
    Chris Gaetano
    |
    Mar 15, 2018
    The SEC has charged Elizabeth Holmes, the CEO of blood testing company Theranos, and Ramesh “Sunny” Balwani, its president, with a "massive fraud" where they exaggerated or made false statements about the firm's technology, business, and financial performance. 
  • Study: Execs With Accounting Experience Linked to Higher Risk of Accounting Misstatements, If Given Pay Incentive

    By:
    Chris Gaetano
    |
    Mar 14, 2018
    A recent study says that executives highly skilled in accounting are also highly skilled at manipulating accounting, at least when there is incentives to do so. 
  • ACCA Finds Disclosure of Key Audit Matters Improves Governance, Audit Quality, Reporting

    By:
    Chris Gaetano
    |
    Mar 14, 2018
    The Association of Chartered Certified Accountants has released a study of audits conducted in jurisdictions requiring the disclosure of Key Audit Matters as required by the International Auditing and Assurance Standards Board, and has found that such disclosures have improved governance, supported audit quality and encourages better corporate reporting. 
  • Poll: 34 Percent of Women in Accounting Say They Experienced Sexual Harassment

    By:
    Chris Gaetano
    |
    Mar 13, 2018
    A recent poll of accounting professionals has found that 34 percent of women in the industry said they have experienced some form of sexual harassment over the course of their careers, and 39 percent of women said they are aware of others who have been similarly harassed.