Latest Articles

  • Study: Middle Class Population Shrank by 9 Percentage Points Since 1970s

    By:
    Chris Gaetano
    |
    Oct 25, 2018
    A recent Pew study has found that while middle class individuals remain the majority of the U.S. population, that proportion has shrunk by about 9 percent since the 1970s. 
  • NY Attorney General Files Suit Against Exxon Mobil, Says Company Defrauded Investors on Climate Change Costs

    By:
    Chris Gaetano
    |
    Oct 25, 2018
    New York State Attorney General Barbara D. Underwood announced that her office has filed suit against petroleum giant Exxon Mobil, accusing the company of misleading investors regarding the risk that climate change regulations posed to the business. 
  • Hundreds of Companies Offering Workers Paid Leave to Vote

    By:
    Chris Gaetano
    |
    Oct 24, 2018
    More than 300 companies so far have said they are offering some manner of paid time off so that their workers can go vote. 
  • GAO Finds Most IRS Appeal Cases Resolved Within One Year

    By:
    Chris Gaetano
    |
    Oct 24, 2018
    A Government Accountability Office study has found that 15 percent of appeals cases before the IRS are resolved in 90 days or fewer, while 85 percent take about a year, though the specific timing can vary greatly depending on the type of case. 
  • President Proposes New Tax Cut, But With Few Details

    By:
    Chris Gaetano
    |
    Oct 23, 2018
    The president has declared that he and Republican lawmakers are working on a large tax cut that is meant to primarily benefit the middle class, according to Politco, though there are few details about the specifics so far. 
  • Study Says New Minimum Wage Did Not Destroy Seattle Economy

    By:
    Chris Gaetano
    |
    Oct 23, 2018
    A recent economic study from the University of Washington has found that, so far, the new minimum wage on Seattle has led to workers earning more money even with fewer hours. 
  • Regulatory Roundup: Oct. 17-23

    By:
    Chris Gaetano
    |
    Oct 23, 2018

    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.

  • FICO Scoring System to Get an Upgrade Next Year, in Move to Boost Loan Approvals

    By:
    Chris Gaetano
    |
    Oct 22, 2018
    The traditional FICO scoring system is going to get a makeover next year, as the Fair Isaac Corp., which calculates the hallowed credit score for consumers, announced plans to introduce the UltraFICO in 2019, which is meant to account for a wider variety of financial activity. 
  • Prosecutors Face Dilemma Over Fraud Charges in Case Where No One Lost Money

    By:
    Chris Gaetano
    |
    Oct 22, 2018
    A case involving allegations of forged documents from a fictitious accountants might seem like a clear instance of fraud, but the New York Times notes that prosecutors will find it challenging to convince a jury that a wrong was committed, as no one actually lost any money. 
  • Federal Court Fines Bitcoin Ponzi Schemer $2.5 Million

    By:
    Chris Gaetano
    |
    Oct 19, 2018
    A federal judge has ordered New York-based company Gelfman Blueprint, Inc. (GBI) and its, CEO Nicholas Gelfman, to pay more than $2.5 million for running a bitcoin-based Ponzi scheme, in a matter which was filed by the Commodity Futures Trading Commission (CFTC).