Latest Articles

  • New York House Democrats Demand End to SALT Deduction Cap, Threaten to Oppose Future Bills If Action Not Taken

    By:
    Chris Gaetano
    |
    Apr 14, 2021
    Seventeen New York House Democrats have decided to play hardball with their own party, saying in a letter to House Speaker Nancy Pelosi and Majority Leader Steny Hoyer that if the House does not take action to remove the $10,000 cap on state and local tax (SALT) deductions, they reserve the right to oppose any future tax legislation that does not contain such a repeal.
  • Toilet Paper Sales Finally Declining

    By:
    Chris Gaetano
    |
    Apr 13, 2021
    Americans are finally confident they have enough toilet paper, leading sales to soften after a year of record high demand amid hoarding and the occasional fistfight.
  • PCAOB Seeking Nominations for New Standards Advisory Group

    By:
    Chris Gaetano
    |
    Apr 13, 2021
    The Public Company Accounting Oversight Board (PCAOB) is calling for nominations for people to serve on its new Standards Advisory Group.
  • Consumer Price Index Jumps Higher Than Expected

    By:
    Chris Gaetano
    |
    Apr 13, 2021
    The Consumer Price Index rose by 0.6 percent in March after a previous month's rise of 0.2 percent, the largest gain seen in many years, which has served to stoke concerns about inflation.
  • Regulatory Roundup - April 6-12

    By:
    Chris Gaetano
    |
    Apr 12, 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.
  • IRS Warns of Impersonation Scam Targeting Those With ".Edu" Emails

    By:
    Chris Gaetano
    |
    Apr 12, 2021
    The IRS is warning taxpayers to beware of a new tax scam that targets students and staff at colleges and universities who have ".edu" email addresses, the latest in a growing number of frauds that have been proliferating this tax season.
  • Manhattan Chamber of Commerce: PPP Saved 2.7 Million NYC Jobs

    By:
    Chris Gaetano
    |
    Apr 12, 2021
    The Manhattan Chamber of Commerce, in a recent report, calculated that the federal Paycheck Protection Program (PPP) saved approximately 2.7 million jobs in New York City.
  • Study: Companies Take About 53 Days to Disclose a Cyberattack

    By:
    Chris Gaetano
    |
    Apr 12, 2021
    A recent study has found that when a public company experiences a cyberattack, it takes, on average, about 53 days for the company to disclose it.
  • Treasury Dept. Says States Receiving ARPA Aid Can Still Enact Some Tax Cuts, at Least for Now

    By:
    Chris Gaetano
    |
    Apr 9, 2021
    The U.S. Treasury Department has released a short statement regarding the provision in the American Rescue Plan Act (ARPA) that ostensibly bars state governments from using federal aid to fund tax cuts. While the department said further detailed guidance is forthcoming, for now, it will allow tax cuts in certain circumstances.
  • SEC Warns That, Despite Claims Otherwise, Legal Liability Risk in SPACs Remains a Factor

    By:
    Chris Gaetano
    |
    Apr 9, 2021
    Acting Director of the Securities and Exchange Commission's Division of Corporate Finance John Coates warned in a recent speech that, despite whatever people have been hearing otherwise, Special Purpose Acquisition Companies (SPACs) are not as shielded against legal liability as some boosters claim.