Latest Articles

  • IRS to Revisit How It Processes Private Letter Rulings

    By:
    Chris Gaetano
    |
    Oct 16, 2017
    The IRS warned practitioners that it plans to reconsider how it processes certain private letter rulings, and may issue new guidance to that effect. 
  • Nominations for Society’s Board of Directors Due Jan. 2

    By:
    NYSSCPA Staff
    |
    Oct 16, 2017

    Are you interested in serving on the NYSSCPA’s Board of Directors? The Society’s Nominating Committee is accepting submissions of interest by members to fill key leadership positions on the NYSSCPA’s Board of Directors. Terms begin on June 1, 2018. The deadline to submit a nomination is Tuesday, Jan. 2.

  • Study Finds Bad News is Best Delivered Directly, Clearly

    By:
    Chris Gaetano
    |
    Oct 16, 2017
    If you've got to deliver bad news to someone, perhaps an employee who didn't get the raise or promotion they've been angling for, a recent study has found that you shouldn't sugar coat anything or beat around the bush: just tell it to them straight. 
  • Trump Signs Executive Order Ending Obamacare Subsidies

    By:
    Chris Gaetano
    |
    Oct 13, 2017
    Donald Trump has signed an executive order that ends billions of dollars in cost sharing reduction payments to insurers, a move that upends a key component of the Affordable Care Act, which could increase premiums by as much as 20 percent. 
  • Equifax Page Taken Down After Found to Be Running Malware

    By:
    Chris Gaetano
    |
    Oct 13, 2017
    Recent visitors to the Equifax web site may have found themselves face to face with a shady popup telling them that they should update Adobe Flash, a well-known vector for malware that later investigation found was due to a third party website infected with malicious code. 
  • Study: Men Given Testosterone Generate Price Bubbles, Overvalue Assets More Than Those With Placebo

    By:
    Chris Gaetano
    |
    Oct 12, 2017
    A recent study that gave some men testosterone and others a placebo found that, when buying and selling financial assets to earn real money, those who got the hormone were more likely to generate price bubbles and overvalue assets than those who got the placebo. 
  • SEC Proposes Disclosure Simplification Rules as Part of FAST Act

    By:
    Chris Gaetano
    |
    Oct 12, 2017
    The Securities and Exchange Commission has released draft rules that aim to simplify public company disclosures as mandated in the FAST Act, a transportation funding bill that also contained securities law-related measures. 
  • Study: Swiss Sewers Flush $2 Million Worth of Gold Annually

    By:
    Chris Gaetano
    |
    Oct 11, 2017
    A recent study has found that about 95 pounds of gold, $2 million worth at current prices, is flushed through the Swiss sewage system every year. 
  • FASB Makes Long-Awaited Nonprofit Proposal

    By:
    Chris Gaetano
    |
    Oct 10, 2017

    The question of whether a transaction should count as an exchange or a contribution—and whether a contribution is conditional or unconditional—is one that has long challenged not-for-profit accountants, with no real consensus as to the proper treatment. A new proposed accounting standards update, issued on Aug. 3 by the Financial Accounting Standards Board (FASB), aims to end this ambiguity by providing a consistent methodology. While it’s relevant mainly for nonprofits, if approved, it would apply to every entity that receives or makes contributions of cash and other assets. 

  • Report: Women's Advancement in Workplace Losing Ground in Some Areas

    By:
    Chris Gaetano
    |
    Oct 10, 2017
    A study looking at 222 companies employing more than 12 million people, which included more than 70,000 individual surveys and a smaller number of in-person interviews, found that women's advancement in the workplace has either stalled or, in some areas, actually lost ground in 2017.