The Trusted Professional | NYSSCPA

 
 
Gov. Hochul Signs Non-CPA Ownership Bill into Law
Read the Jan/Feb Issue
IRS to Waive $1B in Some Late Payment Penalties
2024 to Be a Demanding Year for Internal Auditors
SEC OKs Audit Confirmation Standards

Latest Articles

  • Budget Plan Passes the House, but Trump Cuts Still Need to Overcome Many Obstacles

    By:
    Karen Sibayan
    |
    Apr 11, 2025
    On April 10, the U.S. House of Representatives passed a budget plan that paves the way for extending President Donald Trump's 2017 tax cuts. However, this is only the first step to allow Republicans to bypass the Senate Democrat's opposition and pass tax cut legislation later in 2024.

  • In Another Accounting Private Equity Deal, Report Says Baker Tilly and Moss Adams Are Close to Merging

    By:
    Karen Sibayan
    |
    Apr 10, 2025
    Following the lead of CohnReznick and EisnerAmper, accounting firm Moss Adams is reportedly currently in advanced talks to receive private-equity funding via a merger with peer Baker Tilly, 

  • AICPA Issues Comment Letter on GST Exemption

    By:
    Karen Sibayan
    |
    Apr 10, 2025
    The AICPA  has sent a comment letter responding to the Treasury Department and the IRS' efforts to address the need to simplify relief procedures to allocate the generation-skipping tax exemption under section 2642(b)(1)-(2) and elections under subsection (b)(3) or (c)(5) of section 2632.

  • ERC Officially Ends on April 15 With Unsatisfactory Results

    By:
    Karen Sibayan
    |
    Apr 9, 2025

    The employee retention credit (ERC), implemented during the COVID era, will officially end April 15.  While taxpayers have started receiving approvals of ERC claims, the process has been applied inconsistently and characterized as slow.

  • IRS Expands Voluntary Buyouts as RIF Widens, Commissioner Resigns

    By:
    Emma Slack-Jorgensen
    |
    Apr 9, 2025
    The IRS is escalating its reduction-in-force efforts by offering three voluntary separation programs as it braces for up to a 25% staffing cut. Adding to the turmoil, Acting IRS Commissioner Melanie Krause plans to step down after being bypassed in a sensitive agreement to share taxpayer data with the U.S. Immigration and Customs Enforcement.

  • Georgia Passes Bill to Expand CPA Licensure Pathways

    By:
    Emma Slack-Jorgensen
    |
    Apr 8, 2025

    Georgia has taken a major step to modernize its CPA licensure system. House Bill 148, unanimously passed by the state legislature and awaiting Governor Brian Kemp’s signature, will establish two new routes to becoming a licensed CPA starting Jan. 1, 2026. 

  • Senate Moves Trump's Tax Cuts Forward Amid Tariff Jitters

    By:
    Emma Slack-Jorgensen
    |
    Apr 7, 2025
    Senate Republicans have passed a budget resolution advancing President Trump’s push to extend his 2017 tax cuts, while also raising the debt ceiling by $5 trillion. The move, approved 51-48 in a pre-dawn vote, enables $1.5 trillion in new tax reductions over the next decade, aiming to reassure financial markets rattled by Trump’s sweeping tariffs. 

  • Regulatory Roundup: April 1-7

    By:
    Karen Sibayan
    |
    Apr 7, 2025
    With so many regulators out there, it can be tough to keep track of all the decisions being made. This is the NYCPA'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.

  • Despite Reinstating Probationary Workers, IRS Continues Reducing Its Workforce

    By:
    Karen Sibayan
    |
    Apr 7, 2025

    Roughly 7,000 probationary IRS employees who had lost their jobs in February then placed on administrative leave in March will now come back to work in mid-April due to a court order. IRS workers were informed of this change in an April 1 email. Despite the judicial setback, the IRS has already started a fresh round of layoffs beginning with the Office of Civil Rights and Compliance.

  • Bill Expanding CPA Licensure Pathways Introduced in New York State Assembly

    By:
    Emma Slack-Jorgensen
    |
    Apr 4, 2025
    On April 1, New York State Assembly member Crystal Peoples-Stokes introduced Assembly Bill A7613, a companion to Senate Bill S6891, making another significant step toward expanding access to CPA licensure in the state.
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