Latest Articles

  • Dynamic Audit Solution Project Seeks to Level Tech Race Playing Field

    By:
    Chris Gaetano
    |
    Apr 1, 2021

    CPA firms that would be competitors in any other context are, instead, cooperating, under the guidance of the AICPA and accounting fintech firm CaseWare International Inc., to develop sophisticated audit tools that can bring the profession’s technological revolution to a wider set of practitioners. ​

  • IRS to Issue Unemployment Benefit Tax Refunds in May

    By:
    Chris Gaetano
    |
    Apr 1, 2021
    The IRS announced that, starting in May, it will begin sending refunds to unemployment beneficiaries in light of recent tax changes in the American Rescue Plan Act.
  • Business Groups Prepare to Fight Biden's Proposed Corporate Tax Hike

    By:
    Chris Gaetano
    |
    Apr 1, 2021
    Major business groups have made it clear that they intend to fight the White House's plans to increase corporate taxes to fund its proposed multitrillion-dollar infrastructure plan.
  • White House Will Soon Require Speedy Disclosure of Cyberattacks

    By:
    Chris Gaetano
    |
    Apr 1, 2021
    The White House is currently drafting an executive order that would require any company doing business with the federal government to report any hacks or intrusion into its data network within just a few days.
  • It's Official: NYS Lawmakers Pass Recreational Cannabis Legalization

    By:
    Chris Gaetano
    |
    Mar 31, 2021
    The New York State Senate and Assembly both passed the Marijuana Regulation and Taxation Act (MRTA), which ends the generations-long prohibition on adult-use recreational cannabis in New York. Gov. Andrew Cuomo has signed it into law.
  • Court Rules Multiple FBAR Fines Should Not Stack Over Same Year

    By:
    Chris Gaetano
    |
    Mar 31, 2021
    A federal court has ruled that penalties for failing to file a Foreign Bank Account Report (FBAR) should be determined by the years of noncompliance rather than the number of accounts, cutting the 89-year-old plaintiff's penalty from $160,000 to $40,000.
  • Biden Tees Up Massive Infrastructure Plan, Supported by 28 Percent Corporate Tax

    By:
    Chris Gaetano
    |
    Mar 31, 2021
    The White House has released some of the specifics of its long-awaited infrastructure plan, a massive package that will cost at least $2 trillion, much of which will come from corporate tax increases, among them setting the rate to 28 percent.
  • PCAOB Approves Formation of New Standards Advisory Group

    By:
    Chris Gaetano
    |
    Mar 30, 2021
    The Public Company Accounting Oversight Board (PCAOB), at its most recent meeting, approved the formation of a new Standards Advisory Group, which is meant to improve stakeholder engagement.
  • Employers Encouraging But Not Requiring Vaccinations

    By:
    Chris Gaetano
    |
    Mar 30, 2021
    The vast majority of employers would like their workers to get vaccinated against COVID-19, but few are requiring it at their businesses.
  • More IRS Deadlines Extended to May 17

    By:
    Chris Gaetano
    |
    Mar 30, 2021
    The IRS announced that more deadlines have been moved to May 17, in addition to the individual tax deadline that was moved a few weeks ago due to the ongoing effects of the pandemic.