“The world-altering powers that technology has delivered into our hands now require a degree of consideration and foresight that has never before been asked of…
ICYMI | Incident Responses to Cyber Attacks and Breaches
Considerations for Boards and Audit Committees
Recent media reports indicate that numerous organizations have suffered cyber breaches from increasingly sophisticated attacks. Victim organizations range from sensitive governmental and Fortune 500 companies to…
On May 3, 2023, Governor Kathy Hochul signed into law the New York State Budget Act (S4009). The Budget Act focused on numerous updates for…
ICYMI | An Inconvenient Truth about Remote Work
Connecticut’s Income-Sourcing Statute Needs Fixing
The “convenience of the employer” rule for sourcing income to a particular state is anything but convenient for tri-state taxpayers. Most states that levy an…
An Inconvenient Truth about Remote Work
Connecticut’s Income-Sourcing Statute Needs Fixing
The “convenience of the employer” rule for sourcing income to a particular state is anything but convenient for tri-state taxpayers. Most states that levy an…
Chat GPT is an artificial intelligence (AI) chatbot developed by the OpenAI organization. Many readers may already be familiar with chatbots, which are software applications…
Incident Responses to Cyber Attacks and Breaches
Considerations for Boards and Audit Committees
Recent media reports indicate that numerous organizations have suffered cyber breaches from increasingly sophisticated attacks. Victim organizations range from sensitive governmental and Fortune 500 companies to…
Artificial Intelligence (AI) has been a buzzword for years, but it wasn't until OpenAI came out with Chat GPT in November 2022 that AI came…
On May 3, 2023, Governor Kathy Hochul signed into law the New York State Budget Act (S4009). The Budget Act focused on numerous updates for…
An Inconvenient Truth about Remote Work
Connecticut’s Income-Sourcing Statute Needs Fixing
The “convenience of the employer” rule for sourcing income to a particular state is anything but convenient for tri-state taxpayers. Most states that levy an…
The more I talk to other CPA firms and analyze my own firm, the more I have come to realize that most of our problems…
CPAs need to be aware of current tax developments in key states to properly advise their clients that are doing business in multiple jurisdictions. This…
ICYMI | Biden Administration’s Green Book Proposes Dramatic Estate Planning Changes
CPAs Should Consider the Potential Impact
The Biden Administration recently released its fiscal 2024 revenue proposal, which includes many dramatic changes that will affect most aspects of estate planning. The first…
Editors' Note: The CPA Journal staff would like to acknowledge the recent passing of longtime column editor, author, and Editorial Advisory Board member Howard Levy. His…
Most taxpayers have likely received a solicitation recently claiming that they may be entitled to thousands of dollars in employee retention tax credits. The solicitations…
Forté Capital's Selected Statistics Year-over-Year Change in Treasury Yields, by Maturity The yield curve continues to be inverted from the 90-day bill to the 30-year…
The Financial Accounting Foundation has recently launched the updated online Governmental Accounting Research System (GARS), and its new features and resources make it a must-see—as…
First Look at the Secure Act 2.0 of 2022
Practical and Legal Considerations
On December 23, 2022, Congress passed the Securing a Strong Retirement Act of 2022 (Secure 2.0) as part of the Consolidated Appropriations Act of 2023,…
Biden Administration’s Green Book Proposes Dramatic Estate Planning Changes
CPAs Should Consider the Potential Impact
The Biden Administration recently released its fiscal 2024 revenue proposal, which includes many dramatic changes that will affect most aspects of estate planning. The first…
Whether responding to heightened regulatory expectations or confirming trust in their organization's ability to repel a cyberattack, performing penetration testing (i.e., “pen test”) continues to…
CPAs need to be aware of current tax developments in key states to properly advise their clients that are doing business in multiple jurisdictions. This…
Most taxpayers have likely received a solicitation recently claiming that they may be entitled to thousands of dollars in employee retention tax credits. The solicitations…
Editors' Note: The CPA Journal staff would like to acknowledge the recent passing of longtime column editor, author, and Editorial Advisory Board member Howard Levy. His…
First Look at the Secure Act 2.0 of 2022
Practical and Legal Considerations
On December 23, 2022, Congress passed the Securing a Strong Retirement Act of 2022 (Secure 2.0) as part of the Consolidated Appropriations Act of 2023,…
The ABCs of Worker (Mis-)Classification
Recent Developments in New Jersey
Whether a “worker” is properly characterized and treated as an “employee” or as an “independent contractor” is a complex—but increasingly important—inquiry for business owners and…
My first job out of college in 1992 was as an auditor for Arthur Andersen & Co. in their Baltimore office. Like so many other…
Reassessing the Erroneous Refund Penalty
The IRS Flexes an Obscure Authority
Under IRC section 6676, the IRS has the authority to assess penalties against taxpayers for making erroneous claims for refund or credit. In a 2013…
Forté Capital's Selected Statistics U.S. Existing Home Sales Home sales, new and existing, have weakened due to the sharp increase in mortgage rates last year.…
Alarge majority of respondents to The CPA Journal 2022 Practice Management and Tax Practice Survey reported substantial difficulty in reaching an Internal Revenue Service representative, which…
The Audit Committee’s Oversight for Cybersecurity
Targeted Key Considerations
Audit committees face increasingly complex demands and expectations when it comes to cybersecurity. Oversight practices have expanded from an initial focus on protecting lost shareholder…