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The Trusted Professional | NYSSCPA

 
 
Gov. Hochul Signs Non-CPA Ownership Bill into Law
Read the July/August 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

  • IRS to Audit Use of Private Jets

    By:
    S.J. Steinhardt
    |
    Feb 22, 2024
    The IRS plans to begin dozens of audits of business aircraft involving personal use, the agency announced, as it steps up enforcement of tax laws as they pertain to high-income Americans.

  • PCAOB’s Sanctions Four Firms for Violations Involving Audit Committee Communications

    By:
    S.J. Steinhardt
    |
    Feb 21, 2024
    The Public Company Accounting Oversight Board (PCAOB) announced settled disciplinary orders that sanction four audit firms for violating PCAOB rules and standards related to communications that firms are required to make to audit committees. The four orders result from an ongoing sweep.

  • IRS Criminal Investigation Unit Continues to Investigate Fraudulent ERC Claims

    By:
    S.J. Steinhardt
    |
    Feb 21, 2024
    As the IRS investigates bogus claims for the Employee Retention Credit (ERC), its Criminal Investigation unit (IRS CI) will also conduct educational sessions for tax professionals about it.

  • Banking Trade Groups Seek to Modify SEC Guidance on Digital Assets

    By:
    S.J. Steinhardt
    |
    Feb 20, 2024
    A coalition of financial groups has requested modifications to the Securities and Exchange Commission (SEC)’s Staff Accounting Bulletin 121, offering interpretive guidance on digital assets, because the guidance makes it more expensive for U.S. banks to hold digital assets for their customers.

  • IRS Commissioner: Agency Can Process Changes to Child Tax Credit Quickly

    By:
    S.J. Steinhardt
    |
    Feb 20, 2024
    As Congress considers a budget bill that would enhance the child tax credit for millions of lower-income families, IRS Commissioner Daniel Werfel assured the House of Representatives’ tax-writing committee that his agency would be able to process any changes to the credit and send out the necessary refunds in a timely manner.

  • Regulatory Roundup: February 13-20

    By:
    S.J. Steinhardt
    |
    Feb 20, 2024

    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.

  • IRS Commissioner Warns of Increased Federal Deficit if Budget Cut Further

    By:
    S.J. Steinhardt
    |
    Feb 16, 2024
    Cutting the budget of the IRS would result in an increase in the federal deficit, Commissioner Daniel Werfel told a congressional committee on Feb. 15.

  • IRS Reports 'Strong Start' to 2024 Filing Season

    By:
    S.J. Steinhardt
    |
    Feb 16, 2024
    The IRS reported “a strong start to filing season 2024, with all systems running well” after releasing its 2024 Filing Season Statistics for individual income tax returns, as of Feb. 2.

  • House Blocks Bill to Raise SALT Deduction Cap

    By:
    S.J. Steinhardt
    |
    Feb 15, 2024
    On Feb. 14, the U.S. House of Representatives blocked a bill to increase the state and local tax (SALT) deduction cap.

  • IRS Sues FDIC Over Silicon Valley Bank Debts

    By:
    S.J. Steinhardt
    |
    Feb 15, 2024
    The IRS has sued the Federal Deposit Insurance Corporation (FDIC), seeking to recover an estimated $1.45 billion tax debt owed by the failed Silicon Valley Bank.
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