Latest Articles

  • IRS Missed Out on $34.3B in Revenue Due to Budget Cuts

    By:
    Chris Gaetano
    |
    Aug 16, 2019
    A recent study calculates that the federal government would have had $34.3 billion in additional revenue if not for IRS budget cuts.
  • SEC Charges CFO of Cash Advance Company With Helping Defraud Hundreds of Investors

    By:
    Chris Gaetano
    |
    Aug 16, 2019
    The Securities and Exchange Commission (SEC) has announced charges against the CFO of a Florida-based cash advance company for signing statements he knew were false in order to give investors a false sense of security that their money was safe.
  • IRS Waiving Estimated Tax Penalty for 400,000 People

    By:
    Chris Gaetano
    |
    Aug 15, 2019
    The IRS has announced that it is waiving the estimated tax penalty for 400,000 people who already filed their 2018 federal income tax returns but did not claim the waiver.
  • Madoff Whistleblower Accuses GE of 'Enronesque' Accounting Fraud

    By:
    Chris Gaetano
    |
    Aug 15, 2019
    Harry Markopolos, who blew the whistle on notorious fraudster Bernie Madoff, said that General Electric has been engaging in accounting fraud that he claims is bigger than Enron. 
  • Yield Curve Inverts, Raising Recession Fears

    By:
    Chris Gaetano
    |
    Aug 14, 2019
    Yields on 10-year Treasury bonds are now less than those of two-year bonds, a dire omen that has historically preceded economic recessions. 
  • Many Avoiding Vacations Because of Cost

    By:
    Chris Gaetano
    |
    Aug 14, 2019
    While much attention has been paid to people avoiding vacations due to time pressures at work, another factor is just plain budget: A recent survey has found that many Americans aren't taking vacations simply because they can't afford to. 
  • Poll: Companies Punish Auditors Who Point Out Internal Control Weaknesses

    By:
    Chris Gaetano
    |
    Aug 13, 2019
    A recent study has found that auditors who are good at their jobs can have a negative, not positive, impact on their firm's reputation in the marketplace, at least when it comes to revealing material weaknesses in internal controls. 
  • Study: Mistaken Identity in Stock Names Costs $1 Million Annually

    By:
    Chris Gaetano
    |
    Aug 13, 2019
    Investors  buying the wrong stock because its ticker symbol resembles one from a more well-known company is a phenomenon that a recent study found costs them about $1 million in transaction costs per year.  
  • Treasury Unveils New, Final W-4 After Taking Comments Into Account

    By:
    Chris Gaetano
    |
    Aug 12, 2019
    The Treasury Department and the IRS have revealed a new, final Form W-4 for the 2020 tax year, which includes several changes made in response to complaints received about the draft version. 
  • Regulatory Roundup: Aug. 6-12

    By:
    Chris Gaetano
    |
    Aug 12, 2019
    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.