Latest Articles

  • Senate Passes Bill to Extend PPP to Aug. 8

    By:
    Chris Gaetano
    |
    Jul 1, 2020
    The Paycheck Protection Program, which was set to formally expire at midnight last night, was given a last-minute reprieve when the U.S. Senate passed a bill that would extend its life to Aug. 8.
  • New IRS Data Shows 771,095 Return Audits, $17.3 Billion Additional Tax Assessed

    By:
    Chris Gaetano
    |
    Jul 1, 2020
    The IRS released its latest data book outlining statistics relating to the previous tax year in a new format which, among other things, puts new emphasis on compliance and enforcement.
  • Study Finds Auditor Independence Carries Financial Cost

    By:
    Chris Gaetano
    |
    Jul 1, 2020
    A recent study looked at the financial cost to companies when they reduce or completely eliminate tax services performed by the firms that supply their auditors, and it found that such actions create a short-term spike in tax rates and payments.
  • As More Stay Home, Power Bills Expected to Grow

    By:
    Chris Gaetano
    |
    Jul 1, 2020
    Americans face a 25 percent jump in their power bills this summer as more people stay home and leave their air conditioners running.
  • IRS Confirms: Tax Deadline Will Not Change Again

    By:
    Chris Gaetano
    |
    Jun 30, 2020
    The IRS has announced that, despite recent rumblings, the tax deadline this year will remain July 15 and will not be extended again.
  • PPP Ends with $130 Billion Left Over

    By:
    Chris Gaetano
    |
    Jun 30, 2020
    The Paycheck Protection Program, the troubled aid program meant to act as a backstop for thousands of businesses impacted by the pandemic, officially ends today with $130 billion left unspent.
  • Latest Employment-Population Ratio Stats Show 47.2 Percent Have No Job

    By:
    Chris Gaetano
    |
    Jun 30, 2020
    The latest U.S. employment-population ratio released by the Bureau of Labor Statistics shows that nearly half of Americans, 47.2 percent, have no job.
  • Regulatory Roundup - June 23-29

    By:
    Chris Gaetano
    |
    Jun 29, 2020
    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.
  • National Taxpayer Advocate Erin Collins Says COVID-19 Has Introduced New Challenges

    By:
    Chris Gaetano
    |
    Jun 29, 2020
    Erin Collins, the national taxpayer advocate who replaced Nina Olson, warned of new challenges that taxpayers face due to the global pandemic. These challenges arise from both the economic impacts of the virus itself and the government's massive aid response.
  • Top CEOs Pessimistic About Immediate Economic Future

    By:
    Chris Gaetano
    |
    Jun 29, 2020
    A survey of the nation's top CEOs conducted by the Business Roundtable indicates that they remain worried about the pandemic's effect on the economy and don't believe things will turn around in the immediate future.