Latest Articles

  • Speaker: New Technologies Bring New Challenges for Law Enforcement

    By:
    Chris Gaetano
    |
    Nov 29, 2018
    While the rapid pace of technological change has brought new tools to the fingertips of law enforcement, it has also created worrisome roadblocks that New York County District Attorney Cyrus Vance Jr., a speaker at the Foundation for Accounting Education's Anti-Money Laundering Conference Nov. 28, said have stymied efforts to combating financial crime.
  • Study: When It Comes to Online Reviews, Perfect Scores Are Not Ideal

    By:
    Chris Gaetano
    |
    Nov 29, 2018
    When it comes to online ratings, it truly does look like the perfect is the enemy of the good, as a recent study has found that consumers prefer products and services rated 3-4 stars over 5.
  • Speakers: Suspicious Activity Reports Are Invaluable But Also Time-Consuming and Costly

    By:
    Chris Gaetano
    |
    Nov 28, 2018
    Suspicious activity reports have become an essential tool for law enforcement, but generating these reports can sometime be a burden for the financial institutions that are required to file them. 
  • Federal Reserve Identifies Growing Risks to Economic Stability

    By:
    Chris Gaetano
    |
    Nov 28, 2018
    The U.S. Federal Reserve, in a report released today, said that reforms undertaken since the financial crisis have made the system much more resilient than before, but that there remain several key points of vulnerability that could grow over time. 
  • Fewer Giving to Charity in Post-TCJA World, But Those Who Do Are Giving More

    By:
    Chris Gaetano
    |
    Nov 27, 2018
    Charitable organizations have reported that the number of donors has gone down compared to last year but the value of those donations has gone up, which is largely seen as an effect of the Tax Cuts and Jobs Act. 
  • IRS Releases New Proposed Business Interest Expense Guidance

    By:
    Chris Gaetano
    |
    Nov 27, 2018
    The IRS has issued proposed guidance for the Tax Cuts and Jobs Act's business interest expense limitation, outlining general rules and regulations, definitions of certain terms and special rules for certain entity types. 
  • Regulatory Roundup: Nov. 14-27

    By:
    Chris Gaetano
    |
    Nov 27, 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.

  • IRS Says Don't Fear Estate Tax Clawback

    By:
    Chris Gaetano
    |
    Nov 26, 2018
    The IRS has clarified that even though the new lower estate tax rates will expire in 2025, taxpayers will not have to worry about making large gifts now, as such contributions will not affect taxes once the threshold resets to pre-2018 levels, provided recently proposed guidance is passed. 
  • Thanksgiving Shopping Busts Records, Consumers Spend $3.7 Billion Online

    By:
    Chris Gaetano
    |
    Nov 26, 2018
    The holiday shopping season has only just begin, but consumers have already spent record-breaking amounts, as online sales reached $3.7 billion on Thanksgiving day alone, a 28 percent increase from the same time last year. 
  • IRS Clarifies Like-Kind Exchanges Must Now Be Real Property

    By:
    Chris Gaetano
    |
    Nov 20, 2018
    The IRS has sent a notice reminding taxpayers that, due to changes in the Tax Cuts and Jobs Act, like-kind exchanges are now generally limited only to real property.