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The Trusted Professional | NYSSCPA

 
 
Gov. Hochul Signs Non-CPA Ownership Bill into Law
Read the Nov/Dec Issue
IRS to Waive $1B in Some Late Payment Penalties
2024 to Be a Demanding Year for Internal Auditors
SEC OKs Audit Confirmation Standards

Latest Articles

  • FASB Seeks Input on Proposed Updates to Environmental Credits

    By:
    Karen Sibayan
    |
    Dec 17, 2024

    The Financial Accounting Standards Board (FASB) released a proposed Accounting Standards Update (ASU) on Dec. 17. This ASU is meant to improve the financial accounting for and disclosure of financial activities related to environmental credits and environmental credit obligations. Comments on the proposed ASU are due by April 15, 2025.

  • IRS Amends 'Coverage Month' Definition and Rules on Computing the Premium Tax Credit

    By:
    Karen Sibayan
    |
    Dec 17, 2024
    The IRS released final regulations on Dec. 17 amending the definition of “coverage month.” The agency also amended certain other rules in existing income tax regulations relating to the computation of an individual taxpayer’s premium tax credit. 

  • IRS' Werfel Discusses Enforcement and Technology Initiatives as Budget Cuts Loom

    By:
    Karen Sibayan
    |
    Dec 16, 2024
    According to IRS Commissioner Danny Werfel, the IRS announced a new enforcement campaign—even under the specter of significant cutbacks and with expected changes on the horizon given the incoming Trump administration. The IRS is also set to increase the features of the Tax Pro Account, Business Tax Account and Individual Online Account programs.

  • Regulatory Roundup: December 10 - 16

    By:
    Karen Sibayan
    |
    Dec 16, 2024
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYCPA'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.

  • FinCEN: Reporting Firms Can Voluntarily Submit BOI Reports Despite CTA Injunction

    By:
    Karen Sibayan
    |
    Dec 13, 2024
    The Financial Crimes Enforcement Network (FinCEN) said recently that reporting companies may continue to submit beneficial ownership information reports voluntarily to FinCEN despite the preliminary injunction against the Corporate Transparency Act. 

  • MSF Board of Trustees Nominations Due by Jan. 10

    By:
    NYCPA Staff
    |
    Dec 12, 2024

    If you are interested in serving on The Moynihan Scholarship Fund (MSF) Board of Trustees, now is the time to submit your nomination. Established in 2015, MSF honors the memory of NYCPA Past President David J. Moynihan (1955–2015), a staunch advocate for educational opportunities. 

  • PCAOB Releases Staff Report on 2025 Inspection Priorities

    By:
    Karen Sibayan
    |
    Dec 9, 2024
    On Dec. 9, the Public Company Accounting Oversight Board (PCAOB) inspectors released a staff report listing their priorities for 2025 inspections. The report outlines the key risks and considerations for auditors and questions for audit committees, among other items. 

  • Regulatory Roundup: December 3 - 9

    By:
    Karen Sibayan
    |
    Dec 9, 2024
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYCPA'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.

  • Texas Federal Court Blocks Enforcement of Corporate Transparency Act Nationwide

    By:
    Karen Sibayan
    |
    Dec 4, 2024
    The Corporate Transparency Act and its implementing regulations, which mandate U.S. business entities report to the Treasury Department stakeholder information, were preliminarily blocked nationwide by a Texas federal court on Dec. 3. In a statement on the injunction, the AICPA reminded CPAs assisting clients with BOI reporting to remain prepared in the event that the injunction is lifted.

  • FAE Board of Trustees Nominations Due by Jan. 10

    By:
    By Trusted Professional Staff
    |
    Dec 4, 2024

    If you are interested in serving on the Foundation for Accounting Education (FAE) Board of Trustees, now is the time to submit your nomination. FAE, a 501(c)(3) organization and an affiliated entity of the NYCPA, is very important to the members of the Society and its mission because it administers the lifelong learning program for New York state CPAs.
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