Latest Articles

  • Study: Half of Those 51-54 Will Lose Jobs Involuntarily

    By:
    Chris Gaetano
    |
    Jan 8, 2019
    While there is much discourse surrounding when someone should retire, a recent study has found that, often, it's really not up to employees, but rather to their employers, who force the issue. 
  • Audits of Deutsche Bank Suggest Illegal Share-Trading Scheme

    By:
    Chris Gaetano
    |
    Jan 7, 2019
    Internal audits of Germany's Deutsche Bank have found indications that the bank issued tax certificates for withholding tax that had never been deducted and made loans to clients to allow them to participate in the scheme to claim tax rebates.
  • Cuomo Nominates Own Chief of Staff, a Former Prosecutor, to Lead NYS Dept. of Financial Services

    By:
    Chris Gaetano
    |
    Jan 7, 2019
    New York Governor Andrew Cuomo has nominated Linda Lacewell, his chief of staff, to lead the state's Department of Financial Services. 
  • Regulatory Roundup - Dec. 18, 2018–Jan. 7, 2019

    By:
    Chris Gaetano
    |
    Jan 7, 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.

  • House Votes to Fund Government, Including IRS, But Shutdown Likely to Remain

    By:
    Chris Gaetano
    |
    Jan 4, 2019
    The House of Representatives, now with a Democratic majority, approved a series of spending bills to reopen the government, including the IRS, but the shutdown is likely to remain, as Senate Majority Leader Mitch McConnell, R-Ky. has said that he would not call for a vote on any proposal that doesn’t have “a real chance” of passing and getting a presidential signature. The White House has vowed to veto any  bill that came to the president without funding for a wall along the U.S.-Mexico border.
  • Centuries-Old French Government Bond Still Paying Out Interest

    By:
    Chris Gaetano
    |
    Jan 4, 2019
    France has gone through a lot over 280 years, including the fall of the monarchy, the revolutionary terror, the counter-revolutionary terror, the Napoleonic wars, the restoration, the empire, the world wars and no fewer than five different republics. One constant through it all, though, has been a government bond that, to this day, is still paying out interest. 
  • Suspected Flash Crash Leads to Seven Wild Minutes in Currency Markets

    By:
    Chris Gaetano
    |
    Jan 3, 2019
    International currency markets saw massive swings last night centered around the Japanese yen, which rose to spectacular heights in seven minutes before crashing back down to near normal levels, leading traders to suspect a computer-guided flash crash was to blame. 
  • 2019 Predictions for Economy Ranging from 'Good Year' to 'Unavoidable Recession'

    By:
    Chris Gaetano
    |
    Jan 3, 2019
    Prognosticators seem to be covering all the bases as we enter 2019, as recent interviews with business leaders have yielded the full range of optimism and pessimism for how the economy will do this year. 
  • IRS: Filers May Use 'Good Faith' and 'Reasonable Interpretations' When Calculating Tax on Large Nonprofit Salaries

    By:
    Chris Gaetano
    |
    Jan 2, 2019
    The IRS has said in interim guidance that filers may use "good faith" and "reasonable interpretations" when applying section 4960, a provision of the Tax Cuts and Jobs Act that levels an excise tax on remuneration in excess of $1 million for those working in tax exempt-organizations. 
  • Wells Fargo Pays $575 Million to States Over False Accounts

    By:
    Chris Gaetano
    |
    Jan 2, 2019
    Wells Fargo has agreed to pay $575 million to settle charges brought by state attorneys general in all 50 states over signing up millions of customers for new accounts with neither their knowledge nor consent, then charging them.