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IRS Commissioner: Taxpayers Have Withdrawn Claims for $400M in Employee Retention Credits Deemed Ineligible
Taxation
Commissioner Werfel testifying before the House Subcommittee on Financial Services and General Government Claims for almost…
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PCAOB Exploring Option of Naming Companies with Deficient Financial Audits
Auditing
The Public Company Accounting Oversight Board (PCAOB) is considering whether to reveal, as part of its inspection…
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Six Accounting Firms Report on How They're Using AI
Trusted Professional
While many accountants eschew artificial intelligence (AI), others are using the technology in several different ways,…
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Government Reports Warn of Social Security and Medicare Shortfalls Within a Decade
Trusted Professional
Two government reports issued on May 6 warn that Social Security and Medicare face insolvency within a decade, The…
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Represent New York State on the AICPA Council: A Call for Statements of Interest
The Trusted Professional
In October 2024, the NYSSCPA Board of Directors will submit the names of four individuals to the AICPA’s Nominations…
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IRS Commissioner Details Plans for Audits of Corporations and the Rich
Taxation
IRS Commissioner Danny Werfel offered some specifics about the agency's plans for audits of wealthy individuals and…
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Regulatory Roundup: April 30-May 6
Regulatory Roundup
AICPA AICPA Provides Comments on the Tax Classification of Purpose Trusts May 02, 2024 AICPA Requests Clarification to…
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Citing 'Massive Fraud' Affecting More Than 1,500 Filings, SEC Suspends and Fines Audit Firm
Accounting
The Securities and Exchange Commission (SEC) has charged, audit firm BF Borgers CPA PC with “massive fraud, fining it…
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IRS Cites Improvements As It Releases Updated Strategic Operating Plan
Taxation
The IRS released an update of its strategic operating plan, which outlined the agency’s future plans and highlighted…
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