Latest Articles

  • Study: Fast Pace of New Risks Challenging Internal Auditors

    By:
    Chris Gaetano
    |
    Mar 6, 2019
    A study of hundreds of chief audit executives and a smaller number of directors and senior managers reports that internal auditors are finding it difficult to adapt to emerging risks such as cyberattacks or third-party risks. 
  • IRS Releases Proposed Guidance on Corporate Deductions Meant to Promote Repatriation of Intellectual Property

    By:
    Chris Gaetano
    |
    Mar 5, 2019
    The IRS has released proposed guidance on the treatment of deductions for the Foreign Derived Intangibles Income (FDII) and Global Intangible Low-Taxed Income (GILTI) provisions of the Tax Cuts and Jobs Act. Both provisions have the purpose of encouraging U.S. corporations to repatriate intellectual property.
  • Appeals Court Sides with IRS, Ruling It Has Authority to Charge for ID Numbers

    By:
    Chris Gaetano
    |
    Mar 5, 2019
    A federal appeals court has sided with the IRS over the question of whether it has the authority to level fees in exchange for issuing a Preparer Tax Identification Number (PTIN), reversing an earlier ruling. 
  • Regulatory Roundup - Feb. 26-March 5

    By:
    Chris Gaetano
    |
    Mar 5, 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. 
  • Newly Licensed CPAs Must Take CPE Starting on Jan. 1, 2020

    By:
    NYSSCPA Staff
    |
    Mar 5, 2019
    On Dec. 21, 2018, Gov. Andrew Cuomo signed into law a bill eliminating the three-year exemption from mandatory continuing professional education (CPE) for newly licensed CPAs and public accountants. The law will go into effect on Jan. 1, 2020.
  • Senate Finance Committee Introduces New Tax Extender Bill

    By:
    Chris Gaetano
    |
    Mar 1, 2019
    Tax provisions set to expire and those that just expired may get a new lease on life, as members of the Senate Finance Committee introduced new legislation that would extend 26 different measures.
  • GASB Proposes New Implementation Guidance for Lease Standard

    By:
    Chris Gaetano
    |
    Mar 1, 2019
    The Governmental Accounting Standards Board (GASB) has released proposed guidance meant to guide entities through implementing the new lease standard.
  • Women’s Leadership Forum Focuses on Workplace Transformation

    By:
    Chris Gaetano and Ruth Singleton
    |
    Mar 1, 2019

    KPMG LLP Chief Diversity Officer Michele C. Meyer-Shipp said that achieving diversity and inclusion in the workplace “is a marathon, not a sprint,” noting that women—and men of color—have been leaning in for years, and now it is time for everyone else to lean in to meet them. She spoke during a public conversation with NYSSCPA President Jan C. Herringer at the Society’s Women’s Leadership Forum, held on Jan. 18 in Manhattan.  The NYSSCPA hosted the Forum, its first ever, as part of its effort to promote diversity and inclusion within the profession and effect change for future generations.

  • Private Company Council and FASB: Partners in an Innovative Collaboration

    By:
    Chris Gaetano
    |
    Mar 1, 2019

    Seven years after the formation of the Private Company Council (PCC), the body has found itself transitioning into a new role, with less emphasis on its original purpose of developing private-company alternatives to U.S. generally accepted accounting principles (GAAP), in favor of a more integrated involvement with the overall standards-setting process in support of the Financial Accounting Standards Board (FASB).

  • Senate Confirms Tax Attorney Michael Desmond as New Chief Counsel

    By:
    Chris Gaetano
    |
    Feb 28, 2019
    In an 83-15 vote, the Senate confirmed California-based tax attorney Michael Desmond as the new chief counsel of the IRS.