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February 2, 2012 - Volume 12, No. 5
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NYSSCPA Member on 'Daily Show' Comedy Sketch

Anti-Theft Safeguards May Delay Refunds

U.S. Agrees to Revise Foreign Account Reporting Model

Schneiderman Asked to Lead Financial Crimes Unit

Geithner Plans to Exit Cabinet


What CPAs Need to Know About Quality Control Assurance Systems

The word “quality,” meaning superiority or excellence, has long
been used by organizations to
describe their product or service.

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Credit: New York State
Governor Cuomo, shown giving his State of the State Address earlier this year, has yet to voice an opinion on the new minimum wage bill. Click below for story.


N.J. Mandates E-filing for Partnership Returns—Probably

According to a recent announcement from the New Jersey Division of Taxation, paid tax practitioners who prepare returns for partnerships must file all partnership returns on Form NJ-1065 electronically. Payments must be made electronically as well. These requirements begin with the 2011 tax year. However, as noted below, there may be exceptions


AICPA and CIMA Launch New Designation

On Jan. 31, the AICPA and the London-based Chartered Institute of Management Accountants (CIMA) launched a new venture that was announced earlier: the Chartered Global Management Accountant (CGMA) designation.


Silver et al. Introduce Minimum Wage Bill

A new bill, A9148, has been introduced in the New York Assembly to raise the minimum wage.


NYS Posts Additional MCTMT Guidance

In Dec. 2011, Governor Cuomo signed a law that made modifications in the Metropolitan Commuter Transportation Mobility Tax (MCTMT). Although the Department of Tax and Finance announced these changes some weeks ago, it issued additional guidance on Jan. 26 in Technical Memorandum TSB-M-12(1)MCTMT, which provided more detail.


NYC Publishes Tax Assessment Roll

Every January, the New York City Department of Finance mails a Notice of Property Value (NOPV) to each city property owner. This notice contains information about the property's market and assessed value, which is used to calculate property taxes.


NYSSCPA Board Seeks FAE Trustee Candidates

We are now seeking the names of NYSSCPA members interested in serving on the Board of Trustees of The Foundation for Accounting Education, Inc. (FAE). There are three trustee vacancies to be filled for the upcoming fiscal year, beginning June 1, 2012. If you are interested in serving on the FAE Board, we need to hear from you by Feb. 22.



Technical Sessions

Technical Sessions

2/8/12 - Employment Law Issues in connection with the Termination of an Executive’s Employment
2/9/12 -
Bank Secrecy Act and Anti Money Laundering Hot Topics
2/9/12 -
Professional Practice Standards and References Used in Forensic :Accounting and Litigation
2/15/12 - Dodd Frank and How It Will Impact Private Equity and Venture Capital Funds
2/15/12
- Using IRS E-Services for Tax Professionals
3/8/12 - Shareholder Disputes Avoiding Corporate Divorce




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