Latest Articles

  • Charles Rettig Confirmed as New IRS Commissioner

    By:
    Chris Gaetano
    |
    Sep 13, 2018
    With a vote of 64 to 33, the Senate voted to confirm Charles Rettig, a Beverly Hills tax attorney, as the new head of the IRS. 
  • J.P. Morgan Analysts Predict Next Financial Downturn to Arrive in 2020

    By:
    Chris Gaetano
    |
    Sep 13, 2018
    J.P. Morgan analysts, using complicated economic models, predict that the next financial downturn will occur some time in the year 2020. 
  • TIGTA: IRS Private Debt Collection Program Not Losing Money, but Not Making Much Either

    By:
    Chris Gaetano
    |
    Sep 12, 2018
    The Treasury Inspector General for Tax Administration (TIGTA) has issued a report finding that, on the one hand, the IRS's private debt collection program is not losing money, as it had in the past. On the other, though, the report said that the program hasn't really generated all that much revenue, having collected about 1 percent of the $4 billion in delinquent taxes it was charged with collecting. TIGTA also criticized the program for its effects on tax compliance.
  • Study: Being Prone to Guilt No. 1 Indicator of Trustworthiness

    By:
    Chris Gaetano
    |
    Sep 12, 2018
    Researchers have found that the number one indicator that someone is trustworthy, by far, is that they are more prone to guilt. 
  • House Republicans Unveil Tax Reform 2.0 Bill

    By:
    Chris Gaetano
    |
    Sep 11, 2018
    House Republicans have introduced their Tax Reform 2.0 legislation, which is intended to correct technical errors in the Tax Cuts and Jobs Act as well as make permanent many of its provisions that are set to eventually expire. 
  • GAO Reports IRS Customer Service Improved

    By:
    Chris Gaetano
    |
    Sep 11, 2018
    The Government Accountability Office said that customer service at the IRS has improved over the past few years, which is an important development, considering that the agency will soon need to take significant steps to implement the new provisions in the Tax Cuts and Jobs Act. 
  • Regulatory Roundup: Sept. 6-11

    By:
    Chris Gaetano
    |
    Sep 11, 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.
  • SEC Suspends Trading in Cryptocurency-Based Securities Due to Confusion Over What Exactly They Are

    By:
    Chris Gaetano
    |
    Sep 10, 2018
    The Securities and Exchange Commission has suspended trading in two cryptocurrency-based securities investments, saying that different sources from the company classify them as different things, resulting in confusion from market participants. 
  • More Than a Decade Later, Many Affected by Recession Have Not Bounced Back

    By:
    Chris Gaetano
    |
    Sep 10, 2018
    More than 10 years after the global economy came perilously close to complete and total collapse, many of those caught in the wake of the crisis have yet to meaningfully recover. 
  • Tesla Chief Accountant Quits After One Month on the Job

    By:
    Chris Gaetano
    |
    Sep 7, 2018
    Dave Morton, who had recently been hired as the chief accounting officer for electric car company Tesla, has quit after just one month in the position.