Latest Articles

  • Regulatory Roundup - June 29 to July 2

    By:
    Chris Gaetano
    |
    Jul 2, 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.
  • Restaurant Revitalization Fund Program Ends, Fewer Than a Third of Applicants Got Money

    By:
    Chris Gaetano
    |
    Jul 2, 2021
    The Restaurant Revitalization Fund, a program run through the Small Business Administration, and intended to address the serious damage the restaurant industry experienced in the course of the lockdowns, is now officially closed, having exhausted all $28.6 billion that had been allocated to it.
  • Trump Org, CFO, Indicted on State Tax Charges

    By:
    Chris Gaetano
    |
    Jul 1, 2021
    The Trump Organization, as well as its CFO, Allen Weisselberg, have been indicted on criminal charges related to failure to pay taxes on a wide variety of fringe benefits.
  • Robinhood to Pay Largest Penalty Ever Imposed by FINRA

    By:
    Chris Gaetano
    |
    Jul 1, 2021
    Popular trading app Robinhood has agreed to pay a penalty of $70 million to the Financial Industry Regulatory Authority, a self-regulatory private organization representing the securities industry, the most it has ever fined anyone.
  • Supreme Court Says CDC Eviction Ban Can Remain in Effect

    By:
    Chris Gaetano
    |
    Jul 1, 2021
    The U.S. Supreme Court  has ruled that the eviction moratorium imposed last year through executive action can remain in place despite the fervent protestations of a coalition of realtors and developers who brought the case forward.
  • House Democrats Join with Republicans to Demand SALT Deduction Cap Lift

    By:
    Chris Gaetano
    |
    Jun 30, 2021
    A group of House Democrats joined with Republicans to press their case for lifting or removing the $10,000 cap on state and local tax (SALT) deductions, which was imposed to pay for the Tax Cuts and Jobs Act.
  • SEC Appoints Gurbir S. Grewal As New Enforcement Director

    By:
    Chris Gaetano
    |
    Jun 30, 2021
    The Securities and Exchange Commission (SEC) has appointed New Jersey Attorney General Gurbir S. Grewal as its new director of the Division of Enforcement.
  • IRS Releases Proposed Draft Instructions for Schedules K-2 and K-3

    By:
    Chris Gaetano
    |
    Jun 30, 2021
    The IRS released early draft instructions for the Schedules K-2 and K-3 in order to enhance reporting of international tax matters by pass-through entities.
  • IRS to Hire Thousands of New Tax Auditors

    By:
    Chris Gaetano
    |
    Jun 29, 2021
    The IRS is planning to add thousands of new tax auditors to its ranks as part of the enhanced enforcement effort meant to fund part of the White House's infrastructure proposal.
  • Facebook Prevails in Antitrust Suit, Joins $1 Trillion Club

    By:
    Chris Gaetano
    |
    Jun 29, 2021
    Facebook, shortly after winning an antitrust case launched against it by the Federal Trade Commission and multiple states, has become the latest company to be worth more than $1 trillion.