Latest Articles

  • Pandemic Causing Rents to Drop, But NYC Prices Remain High

    By:
    Chris Gaetano
    |
    Jun 23, 2020
    The global pandemic has put landlords on edge, leading them to offer generous discounts to renters, yet even with certain concessions, prices in New York City, at least, remain high.
  • Pandemic-Scarred Corporations Bolster Takeover Defenses

    By:
    Chris Gaetano
    |
    Jun 23, 2020
    Corporations battered by the global pandemic are shoring up their defenses against hostile takeovers by private equity firms that they fear may seek to take advantage of their weakened state.
  • Regulatory Roundup - June 16-22

    By:
    Chris Gaetano
    |
    Jun 22, 2020
    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.
  • Plot Thickens at Germany's Wirecard as $2 Billion Now Said to Have Likely Never Existed

    By:
    Chris Gaetano
    |
    Jun 22, 2020
    The hunt for $2 billion in missing cash from German fintech firm Wirecard has turned a corner, as it now appears that this money never existed in the first place.
  • IRS Releases Guidance on Favorable Tax Treatment for COVID-19-Related Retirement Distributions

    By:
    Chris Gaetano
    |
    Jun 22, 2020
    The IRS has issued new guidance about how to implement Sec. 2202 of the CARES Act, which allows qualified individuals to receive favorable tax treatment with respect to coronavirus-related distributions from eligible retirement plans.
  • Supreme Court Scales Back SEC's Ability to Recover Ill-Gotten Gains

    By:
    Chris Gaetano
    |
    Jun 22, 2020
    The Supreme Court of the United States limited the ability of the Securities and Exchange Commission to demand that defendants surrender profits obtained through fraud, although it stopped short of removing disgorgement entirely as a remedy .
  • Experts Believe Corporate Bankruptcies Will Stress Courts

    By:
    Chris Gaetano
    |
    Jun 22, 2020
    Economists believe that even a rapid economic recovery won't save a large number of businesses that have suffered too much damage during the pandemic, which means that bankruptcy courts may soon see themselves stretched to the limit as case loads explode.
  • 1.5 Million More Sought Jobless Benefits Last Week

    By:
    Chris Gaetano
    |
    Jun 18, 2020
    The U.S. Department of Labor reported that 1.508 million more people applied for unemployment benefits, only a slight decrease from the previous week's 1.542 million figure.
  • Auditors Find German Pay Processor Cannot Account for 1.8 Billion Euros

    By:
    Chris Gaetano
    |
    Jun 18, 2020
    German payroll processor and financial services firm Wirecard today delayed its 2019 financial statements after its auditor, Ernst & Young, said it cannot find sufficient evidence that a supposed 1.8 billion euro balance in various trust accounts actually exists.
  • Treasury Dept. Releases New, Streamlined PPP Loan Forgiveness Applications

    By:
    Chris Gaetano
    |
    Jun 18, 2020
    The Treasury Department announced the release of a new application to apply for PPP loan forgiveness, which it said makes the process more "borrower-friendly," as it accounts for recent changes in the terms of the program that were recently signed into law.