Latest Articles

  • IRS: Filing Season Begins Jan. 29

    By:
    Chris Gaetano
    |
    Jan 5, 2018
    The IRS announced that this year's filing season begins Jan. 29, though certain credits and refunds won't be available until late February. 
  • Study: Bad Economies Make People More Ruthless

    By:
    Chris Gaetano
    |
    Jan 5, 2018
    A study detailed in the Harvard Business Review found that people are more likely to view the economy as a zero-sum game, and are less likely to collaborate with others, during bad economic times. 
  • SEC Swears in New PCAOB Chair, New Board Member

    By:
    Chris Gaetano
    |
    Jan 3, 2018
    William D. Duhnke III was officially sworn in yesterday as the new chair of the Public Company Accounting Oversight Board (PCAOB), along with a new member, Kathleen Hamm. 
  • Gov. Cuomo Proposes Adopting Payroll Tax in Response to Tax Law's Cap on SALT Deduction

    By:
    Chris Gaetano
    |
    Jan 3, 2018
    New York Governor Andrew Cuomo proposed adopting a payroll tax system as part of a three-part plan to meet the challenges presented by the new federal tax law, which he characterized as an "all-out attack on New York's economic future." 
  • Judge Rules PwC Negligent in Crisis-era Bank Failure, Says Firm Missed $2B Fraud

    By:
    Chris Gaetano
    |
    Jan 2, 2018
    A federal judge has ruled PricewaterhouseCoopers was negligent in failing to detect a $2 billion fraud scheme that led to the bank failing during the height of the global financial crisis. 
  • State Governments Working Overtime to Ameliorate SALT Impacts

    By:
    Chris Gaetano
    |
    Jan 2, 2018
    With the landmark tax reform bill effectively capping deductions on state-level taxes at $10,000, governments in high-tax, high-cost-of-living states are working on a number of options to blunt the impact on their taxpayers. 
  • Grant Thornton Settled with PCAOB for $1.5 Million Over Audit Failures and QC Violations

    By:
    Chris Gaetano
    |
    Dec 21, 2017
    Grant Thornton LLP settled with the PCOAB for $1.5 million over an audit of a Philadelphia-based financial services provider. 
  • SEC Charges Group With Running $1.2 Billion Ponzi Scheme

    By:
    Chris Gaetano
    |
    Dec 21, 2017

    The Securities and Exchange Commission charged the owner of a group of unregistered funds with looping thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme. 

  • Speaker at Tax Update Session Highlights Changes in New Tax Overhaul

    By:
    Chris Gaetano
    |
    Dec 20, 2017
    The House of Representatives and the Senate have now  passed the Republicans' new tax reform bill, the largest and most dramatic shift in the country's tax system in decades. While the changes are voluminous and their implications still being analyzed, John J. Connors, president of the Tax Educators Network and a speaker at the Foundation for Accounting Education's 2017 Federal Individual Income Tax Update, highlighted some of the changes in the vote's immediate aftermath, as they apply to individuals.

  • NYSSCPA Board Approves Legislative and Regulatory Agenda

    By:
    NYSSCPA Staff
    |
    Dec 19, 2017

    At its Dec. 7 meeting, the Board of Directors of the NYSSCPA approved the legislative and regulatory agenda presented by the Society’s staff and leadership, which appears below. The Society has embraced these initiatives in order to elevate the professional practice and further promote the CPA brand and expertise to legislators, the business community, the media and the general public in New York state.