Latest Articles

  • Former KPMG Auditor Convicted on Insider Trading Charge

    By:
    Chris Gaetano
    |
    Aug 10, 2018
    Daniel Senn, a former partner at KPMG, has been convicted of insider trading by Swiss criminal authorities, saying he made trades in 2011 related to an undisclosed takeover bid. 
  • July Saw Highest Inflation in 10 Years

    By:
    Chris Gaetano
    |
    Aug 10, 2018
    The Consumer Price Index, which tracks general inflation, saw the sharpest rise in a decade, further eating away at wage gains that, for the most part, have been largely stagnant. 
  • IRS Releases Proposed Guidance on 20 Percent Deduction for Pass-Through Entities

    By:
    Chris Gaetano
    |
    Aug 9, 2018
    The IRS has released technical guidance for a key part of the Tax Cuts and Jobs Act, the 20 percent deduction for pass-through entities, which had been the source of much confusion for preparers and taxpayers alike since the law went into effect. 
  • Elon Musk's Tweets Draw SEC Scrutiny

    By:
    Chris Gaetano
    |
    Aug 9, 2018
    The Securities and Exchange Commission (SEC) is investigating whether Tesla CEO Elon Musk's tweet that he wants to take his company private violated securities law, as it is unsure whether the firm actually has the financing to do so. 
  • Study: Number of Senior Citizens Declaring Bankruptcy Rose Sharply Since 1991

    By:
    Chris Gaetano
    |
    Aug 8, 2018
    A recent study has found that the number of Americans aged 65 and over declaring bankruptcy has risen sharply since 1991, with the most cited reasons being medical expenses or reduced income. 
  • U.S. Congressman Chris Collins of NY Indicted for Insider Trading

    By:
    Chris Gaetano
    |
    Aug 8, 2018
    U.S. Congressman Chris Collins (R-NY) has been indicted on insider trading charges relating to a biotech company where he is a board member. 
  • FASB Seeks Companies to Participate in Study on Segment Reporting

    By:
    Chris Gaetano
    |
    Aug 7, 2018
    The Financial Accounting Standards Board is looking for a few good public companies to take part in a study on improving aggregation criteria and the reportable segments process as part of the first phase of preparer outreach to be conducted by the FASB on segment reporting.
  • TIGTA Faults IRS Oversight of Private Collection Agencies' Data Security

    By:
    Chris Gaetano
    |
    Aug 7, 2018
    The Treasury Inspector General for Tax Administration (TIGTA), has issued a report finding that private tax collection agencies, while generally providing a safe environment for taxpayer data, nonetheless needed improvement, as both they and the IRS were not sufficiently covering key vulnerabilities. 
  • Regulatory Roundup - Aug. 1-7

    By:
    Chris Gaetano
    |
    Aug 7, 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 ‚Äč‚Äčannouncements from the past week, and puts them in one place to help you stay on top of the issues.  
        
  • IRS Releases Proposed Guidance on 100 Percent Depreciation

    By:
    Chris Gaetano
    |
    Aug 6, 2018
    The IRS has released proposed guidance for the provision of the Tax Cuts and Jobs Act that allows for 100 percent depreciation on qualified property.