Latest Articles

  • Conference Speakers: IRS Promising Focused Guidance for Exempt Organizations in 2020

    By:
    Chris Gaetano
    |
    Dec 17, 2019
    The IRS Office of Chief Counsel, which writes all the notices and guidance that practitioners rely upon, is aiming to release several new proposed and final regulations relevant to exempt organizations over the course of next year, mostly pertaining to changes brought about by the Tax Cuts and Jobs Act (TCJA). Speaking at the Foundation for Accounting Education's Exempt Organizations Conference on Dec. 17, IRS attorneys Stephanie Robbins and David Repass talked about how the IRS has changed its approach to the Priority Guidance Plan (PGP), an annually released document that outlines which regulations the IRS intends to focus on in the coming year
  • House Passes Spending Bill That Would Repeal Some Obamacare Taxes

    By:
    Chris Gaetano
    |
    Dec 17, 2019
    The House of Representatives has passed a spending bill that contains provisions to drop several taxes that were implemented to fund the Affordable Care Act.
  • NYS Board of Regents Adopts Emergency Regulation to Implement Law Requiring CPE for Newly Licensed CPAs

    By:
    Ruth Singleton
    |
    Dec 13, 2019

    At its Dec. 10, 2019, meeting, the New York State Board of Regents took emergency action to adopt a regulation that implements a law signed by Gov. Andrew Cuomo, which eliminates the three-year exemption from the mandatory continuing education requirement for newly licensed CPAs. That law, Chapter 413 of the Laws of 2018, amended the Education Law, effective Jan. 1, 2020, to require all new licensees to become subject to mandatory continuing education on the first Jan. 1 that falls in their first registration period.

  • Analysis of 'Best Company to Work For' Lists Finds Common Cultural Features

    By:
    Chris Gaetano
    |
    Dec 13, 2019
    An examination of companies that time and time again appear on 'best companies to work for' lists has found that, as different as they might all be, what they have in common is a person-centered culture that is generous with benefits and provides meaningful work. 
  • 401(k) Plans Working Very Well for Some, Abysmally for Rest

    By:
    Chris Gaetano
    |
    Dec 13, 2019
    The 401(k) plan, developed to replace traditional company pensions, has been working very well for the top earners in the country, but the rest are finding that it's not even close to what they need to retire, if they even have one at all. 
  • 60 Percent of CFOs Anticipate Headcount Reductions in 2020

    By:
    Chris Gaetano
    |
    Dec 12, 2019
    A recent poll has found that 60 percent of chief financial officers expect to trim staffing levels at their companies over the next year. 
  • Corporate Governance Gets a C+ Grade from Institute of Internal Auditors

    By:
    Chris Gaetano
    |
    Dec 12, 2019
    The Institute of Internal Auditors, after surveying 128 chief audit executives at public companies, graded the quality of corporate governance today at C+, which it said  reflects weaknesses over a broad range of basic corporate governance principles and suggests that many companies’ systems of corporate governance are inadequate.
  • Conference Speaker: With States Increasingly Aggressive on Revenue, Remote Workers Are an Inviting Target

    By:
    Chris Gaetano
    |
    Dec 11, 2019
    Attorney Mark S. Klein, chairman of Hodgson Russ and a speaker at the Foundation for Accounting Education's New York and Tri-State Taxation Conference on Dec. 11, said that state governments are increasingly turning to out-of-state workers as a revenue source, particularly where it concerns withholding taxes, meaning that companies must now tread lightly when it comes to their interstate activities. 
  • House Bill Would Eliminate $10,000 SALT Cap

    By:
    Chris Gaetano
    |
    Dec 11, 2019
    House Democrats have proposed a bill that would remove the $10,000 cap on state and local tax (SALT) deductions, which had previously been unlimited prior to the passage of the Tax Cuts and Jobs Act. 
  • One Year Later, Wayfair Decision Reverberates Through State Tax Codes

    By:
    Chris Gaetano
    |
    Dec 11, 2019
    It's been just 18 months since the U.S. Supreme Court ruled in Wayfair vs. South Dakota that states can hold out-of-state vendors liable for sales tax, but since then virtually every state in the country has adopted laws enabling them to do so, an extremely rapid change that has made economic activity versus physical presence the main factor in determining tax nexus, according to two speakers at the Foundation for Accounting Education's New York and Tri-State Taxation Conference on Dec. 11.