Latest Articles

  • Regulatory Roundup - Sept. 18-27

    By:
    Chris Gaetano
    |
    Sep 27, 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.
  • China Bans All Cryptocurrency Transactions

    By:
    Chris Gaetano
    |
    Sep 24, 2021
    The Chinese central bank has declared that all cryptocurrency transactions are illegal, a move that effectively shuts down the entire sector there.  
  • NY Begins Distributing Funds to Those Previously Locked Out of Pandemic Aid

    By:
    Chris Gaetano
    |
    Sep 24, 2021
    New York has been rapidly approving aid requests from those who had previously been unable to participate in the various pandemic aid programs, drawing from a $2.1 billion fund Albany had set aside for this purpose. 
  • PCAOB Approves Framework for Holding Foreign Companies Accountable Act

    By:
    Chris Gaetano
    |
    Sep 23, 2021
    The Public Company Accounting Oversight Board (PCAOB) approved a framework for making determinations of when the regulator cannot inspect or investigate completely registered public accounting firms located in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction. 
  • IRS Adds 3 New Companies to List of Approved Private Collection Agencies

    By:
    Chris Gaetano
    |
    Sep 23, 2021
    The IRS has added three new companies to its list of private firms authorized to collect extremely delinquent tax debt. 
  • NYC Businesses Can Apply for 75 Percent Discount on Fines

    By:
    Chris Gaetano
    |
    Sep 22, 2021
    New York City has formally launched its Fine and Interest Reduction Recovery program, which will allow businesses to apply for of up to 75 percent on delinquent fines issued by city agencies including the sanitation, fire and buildings departments.
  • Study Finds Most Questionable Medicare Charges Can Be Linked to 20 Companies

    By:
    Chris Gaetano
    |
    Sep 22, 2021
    Recent data posits that the majority of roughly $9.2 billion worth of questionable payments through Medicare Advantage last year can be attributed to just 20 insurance companies. 
  • TIGTA: IRS Sent Almost 90K Premature Collection Notices

    By:
    Chris Gaetano
    |
    Sep 21, 2021
    The Treasury Inspector General for Tax Administration (TIGTA) said that the IRS issued 89,338 premature Notices and Demand for tax that were generated for 87,542 individual taxpayers who filed Tax Year 2019 tax returns before the COVID-19 filing date extension of July 15, 2020.
  • Coinbase, Under Pressure From SEC, Shelves Interest Payments

    By:
    Chris Gaetano
    |
    Sep 21, 2021
    Cryptocurrency exchange Coinbase said that it is shelving plans for a new product that would let account holders earn interest on their assets due to the threat of litigation from the Securities and Exchange Commission (SEC). 
  • Study: SALT Cap Repeal Would Halve Tax Revenue From New Measures

    By:
    Chris Gaetano
    |
    Sep 20, 2021
    A recent analysis has found that if the $10,000 cap on state and local tax deductions (SALT) were fully repealed, as some have been advocating, high income individuals would see their contributions to the multi-trillion dollar spending package cut by at least half.