Latest Articles

  • New Pandemic Aid Package Now in Effect, Includes $284 Billion in PPP Loans

    By:
    Chris Gaetano
    |
    Jan 4, 2021
    After months of intense wrangling, Congress and the White House finally enacted a new, $900 billion, pandemic relief bill in late December.
  • TIGTA: Private Debt Collectors Recover Mere Fraction of Owed Taxes

    By:
    Chris Gaetano
    |
    Jan 4, 2021
    A study by the Treasury Inspector General for Tax Administration (TIGTA) has found that private debt collectors assigned to delinquent tax accounts collect only a fraction of the monies owed.
  • Regulatory Roundup - Dec. 15-Jan. 4

    By:
    Chris Gaetano
    |
    Jan 4, 2021
    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.     
  • White House Demands $2000 Payments as Part of Stimulus

    By:
    Chris Gaetano
    |
    Dec 23, 2020

    The administration called the current pandemic relief bill, which cleared both chambers of Congress after months of contentious negotiations, a disgrace and an embarrassment due to the $600 direct payments, which are half of what they were in the CARES Act.

  • DOL Reports Job Losses of 803,000

    By:
    Chris Gaetano
    |
    Dec 23, 2020

    The U.S. Department of Labor reported that there were 803,000 initial unemployment claims last week, quite a difference from the previous figure of 885,000, but still nearly four times higher than what was reported around the same time last year.

  • Congress Passes Pandemic Aid Bill

    By:
    Chris Gaetano
    |
    Dec 22, 2020
    Congress approved the latest round of pandemic aid last night, passing both the House and Senate by comfortable margins.
  • FASB Proposes Reducing Goodwill Impairment Tests for Private Companies, Nonprofits

    By:
    Chris Gaetano
    |
    Dec 22, 2020
    A proposed accounting alternative from the Financial Accounting Standards Board (FASB) would allow private companies and nonprofits to perform goodwill triggering event assessments only on the annual reporting date.
  • U.S. Commerce Dept. Reports 33.4 Percent GDP Growth in Third Quarter

    By:
    Chris Gaetano
    |
    Dec 22, 2020
    The U.S. Commerce Department said that gross domestic product (GDP) grew by 33.4 percent in the third quarter of 2020, a record-growth that slightly outpaced the second quarter's record 31.4 percent loss.
  • We Have a Deal: Congress Reaches Agreement on $900 Billion Pandemic Relief Bill

    By:
    Chris Gaetano
    |
    Dec 21, 2020
    Lawmakers, finally, reached an agreement over the next round of pandemic relief measures.
  • White House Signs Chinese Delisting Bill Into Law

    By:
    Chris Gaetano
    |
    Dec 21, 2020
    The president has formally signed into law a bill, aimed mainly at Chinese companies, that will require foreign companies listed on U.S. exchanges to receive audits compliant with Public Company Accounting Oversight Board (PCAOB) standards or else be delisted.