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May 2020 Issue

Home /Magazine/May 2020 Issue
Featured

ICYMI | The IRS ‘Roboaudit’—An Abuse of Authority

By  Daniel Jacobs, JD and Michael Moore, PhD, CPA

December 2020 0

The IRS is increasingly relying on correspondence audits to audit small businesses. This report of a correspondence audit of the personal income tax returns of…

Russ Golden Featured

ICYMI | Seven Years at the Forefront of Standards Setting

A Look Back from Outgoing FASB Chairman Russell G. Golden

By  Russell Golden

December 2020 0

In Brief  For the last seven years, Russell G. Golden has served as FASB's chairman. During this time, and for the nine years previously, he…

Featured

ICYMI | Coronavirus Relief Resources

By  Susan B. Anders, PhD, CPA/CGMA

November 2020 0

Accountants have once again been proving that America does indeed count on CPAs, as they have entered uncharted waters to assist both individuals and small…

Feature Articles

ICYMI | Managing the Going Concern Risk in an Uncertain Environment

An Analysis of Regulatory Guidance and Financial Relief for the COVID-19 Pandemic

By  Nicholas C. Lynch, PhD, Michael F. Lynch, JD, CPA and Charles P. Cullinan, PhD

November 2020 0

In Brief The worldwide COVID-19 pandemic has affected businesses of every size in every country, and the United States has been hit particularly hard. Many…

Featured

ICYMI | 401(k) Plan Issues in the Current Environment

Practical and Legal Considerations

By  Sheldon M. Geller, JD, CPA

August 2020 0

This article is intended to address 401(k) plan issues and concerns that develop during periods of economic uncertainty and market volatility, such as the current…

Cybercrime Featured

ICYMI | Surviving a Pandemic in an Era of Cybercrime

By  Steven Wertheim

August 2020 0

In the early 2000s, as the business world began to return to a more normal mode of operations after the events of September 11, 2001,…

Featured

ICYMI | Financial Reporting and Auditing Implications of the COVID-19 Pandemic

Some Practical Guidance

By  Howard B. Levy, CPA

August 2020 0

In Brief The COVID-19 pandemic has disrupted life around the world, but business, in altered fashion, goes on. Companies will have to report on their…

Featured

Tax & Accounting Update

By  Thomson Reuters Checkpoint

July 2020 0

Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…

Featured

Deposit Insurance Offers a Safe Haven

By  Sidney Kess, JD, LLM, CPA and Julie Welch, CPA, PFS, CFP

June 2020 0

Good times or bad, it is vital for investors to hold cash reserves. Federal deposit insurance provides an extra layer of comfort, so it is…

Cybercrime Featured

Surviving a Pandemic in an Era of Cybercrime

By  Steven Wertheim

June 2020 0

In the early 2000s, as the business world began to return to a more normal mode of operations after the events of September 11, 2001,…

Featured

New York State’s Real Estate Transfer Tax

What CPAs Need to Know

By  David M. Barral, CPA/PFS, CFP

June 2020 0

CPAs generally do not file real estate transfer tax returns (Form TP-584 series), as these returns are more commonly prepared by the attorneys involved in…

News & Views

Online Accounting Courses

Transition and Emerging Issues

By  Tracey J. Niemotko, JD, CPA, CFE and Moira Tolan, PhD

June 2020 0

Due to the effects of the worldwide coronavirus (COVID-19) pandemic, accounting professors have been forced to navigate the complexities of teaching in a nontraditional format…

Featured

401(k) Plan Issues in the Current Environment

Practical and Legal Considerations

By  Sheldon M. Geller, JD, CPA

June 2020 0

This article is intended to address 401(k) plan issues and concerns that develop during periods of economic uncertainty and market volatility, such as the current…

Featured

Tax Provisions of New York State’s 2020/21 Budget and COVID-19 Due Date Extensions

By  Corey L. Rosenthal, JD, Arvinder Kaur, CPA and Mark H. Levin, CPA, MST

June 2020 0

ON April 3, 2020, Governor Andrew M. Cuomo signed into law the New York State 2020/21 Budget, which contains several key tax measures related to…

Featured

How Finance Professionals Can Help Rebuild Trust

By  Susan E. Bos, CMA, CPA, CFE

June 2020 0

Trust is among the most important commodities in the world, and it is in increasingly short supply. The 2020 Edelman Trust Barometer, a yearly survey…

Featured

Change in Corporate Ownership or Control May Result in Golden Parachute Payments

By  Ray A. Knight, JD, CPA, PFS, CGMA and Lee G. Knight, PhD

June 2020 0

In Brief The “golden parachute”—a payment to key executives of an acquired company who help ensure the success of the sale—has become a common component…

Featured

Accounting for Sales with Contingent Obligations

Methods and Considerations

By  Stephen A. Josey, JD

June 2020 0

Typically, the sale of a capital asset held by an individual is a straightforward affair from a tax accounting perspective. Under the most common scenario,…

Feature Articles

Managing the Going Concern Risk in an Uncertain Environment

An Analysis of Regulatory Guidance and Financial Relief for the COVID-19 Pandemic

By  Nicholas C. Lynch, PhD, Michael F. Lynch, JD, CPA and Charles P. Cullinan, PhD

June 2020 0

In Brief The worldwide COVID-19 pandemic has affected businesses of every size in every country, and the United States has been hit particularly hard. Many…

Featured

The IRS ‘Roboaudit’—An Abuse of Authority

By  Daniel Jacobs, JD and Michael Moore, PhD, CPA

June 2020 0

The IRS is increasingly relying on correspondence audits to audit small businesses. This report of a correspondence audit of the personal income tax returns of…

Featured

Navigating the Public Service Loan Forgiveness Program

By  Keith Donnelly, JD, CPA (inactive)

June 2020 0

In Brief In an attempt to alleviate the burden of student debt on U.S. borrowers, the federal government offers a Public Service Loan Forgiveness program,…

Featured

Coronavirus Relief Resources

By  Susan B. Anders, PhD, CPA/CGMA

June 2020 0

Accountants have once again been proving that America does indeed count on CPAs, as they have entered uncharted waters to assist both individuals and small…

Featured

Financial Reporting and Auditing Implications of the COVID-19 Pandemic

Some Practical Guidance

By  Howard B. Levy, CPA

June 2020 0

In Brief The COVID-19 pandemic has disrupted life around the world, but business, in altered fashion, goes on. Companies will have to report on their…

Featured

Estate Tax Advice Today

The Impact of Coronavirus, the CARES Act, Low Interest Rates, and Market Declines

By  Martin Shenkman, JD, CPA/PFS, AEP and Jonathan G. Blattmachr, JD

June 2020 0

In Brief The COVID-19 pandemic has put the economy in a precarious state, but certain effects of the downturn, such as historically low interest rates…

Russ Golden Featured

Seven Years at the Forefront of Standards Setting

A Look Back from Outgoing FASB Chairman Russell G. Golden

By  Russell Golden

June 2020 0

In Brief  For the last seven years, Russell G. Golden has served as FASB's chairman. During this time, and for the nine years previously, he…

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Our Latest Content

  • Adapting to Constant Change March 2023
  • CPAJ News Briefs: FASB, PCAOB, IASB March 2023
  • Critical Audit Matter Reporting March 2023
  • Reassessing the Erroneous Refund Penalty March 2023
  • Keynote Session March 2023












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