Latest Articles

  • Report: Rich Got Richer in 2021

    By:
    Chris Gaetano
    |
    Dec 8, 2021
    The rich, in general, tend to get richer, and a recent report has found that the year 2021 was no exception. 
  • IRS Releases Guidance for Retroactive Cancellation of Employee Retention Credit

    By:
    Chris Gaetano
    |
    Dec 7, 2021
    The IRS has released guidance instructing taxpayers on what to do about the retroactive cancellation of the Employee Retention Credit. 
  • IFRS Foundation Chair: ISSB Expected to be Staffed by January at Latest

    By:
    Chris Gaetano
    |
    Dec 7, 2021
    IFRS Foundation Chair Erkki Liikanen, speaking Tuesday during the Value Reporting Foundation (VRF) Symposium, said that he expects the new International Sustainability Standards Board (ISSB), the formal creation of which was only recently announced, will have its roster filled out and be ready to begin work by January at the very latest. 
  • NYC Mayor Announces Citywide Vaccine Mandate

    By:
    Chris Gaetano
    |
    Dec 6, 2021
    Outgoing New York City Mayor Bill de Blasio, seeking to check the spread of the new Omicron variant of COVID-19, announced a citywide vaccine mandate affecting private employers. 
  • Regulatory Roundup - Nov. 30 - Dec. 6

    By:
    Chris Gaetano
    |
    Dec 6, 2021

    With so many regulators out here, 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.

  • Symposium Speakers Note Significant Progress in ESG Reporting But Say Much Work Remains

    By:
    Chris Gaetano
    |
    Dec 6, 2021
    Leaders from the corporate sustainability movement, speaking at the Value Reporting Foundation 2021 Symposium Monday, hailed major progress in private sector buy-in on environmental, social and governance (ESG) factors but acknowledged that there remains much work to be done in this area. 
  • NASBA Suspends Reporting on CPA Exam Performance

    By:
    Ruth Singleton
    |
    Dec 3, 2021
    The National Association of State Boards of Accountancy (NASBA) has stopped reporting information about how candidates perform on the CPA exam. The reason, said NASBA, is that it is preparing for the CPA Evolution initiative, a joint project with the AICPA to transform the CPA licensure model in order to reflect the changing skills and competencies that the accounting profession will require in the years ahead.
  • IRS Further Extends E-Signatures, Until Oct. 31, 2023

    By:
    Chris Gaetano
    |
    Dec 2, 2021
    The IRS announced that it will be extending through Oct. 31, 2023, a provision, due to expire this year, that has allowed practitioners to use e-signatures on many common tax forms. 
  • CFPB Report Says Overdraft Penalties Make Up Two-Thirds of Banks' Fee Revenue

    By:
    Chris Gaetano
    |
    Dec 2, 2021
    The Consumer Financial Protection Bureau (CFPB) issued a report that said that banks are relying heavily on overdraft and insufficient funds fees, as such penalties make up two-thirds of their fee revenue. 
  • MSF Board of Trustees Nominations Due by Feb. 1

    By:
    NYSSCPA Staff
    |
    Dec 2, 2021
    If you are interested in serving on the Foundation for Accounting Education (FAE) Board of Trustees, now is the time to submit your nomination.