March 2012
Survey: Accountants Quite Happy
Data collected by employee happiness consultants CareerBliss.com, drawing from 100,400 employee-generated reviews of their own workplaces, has showed that accountants are among the happiest of professions, ranking number 8 in overall reported job satisfaction, between customer service representatives at 7 and systems engineers and construction managers at 8, according to
Security Is Top IT Priority
Technology may be an enormous boon to CPAs, but it also comes with a lot of worries. According to a recent survey conducted by the AICPA, "securing the IT environment" is the top technology priority.
New Sales Tax Reporting Rules
The New York State Department of Taxation and Finance has issued new reporting rules applicable only to a select group of businesses, and only to those located in New York City. The changes start with the March to May quarterly sales tax returns (due June 20), and the annual returns for sales tax years beginning March 1.
State Confirms Botox Is Taxable
If you want to look younger, that's fine, but do it on your own dime. That's the message from the New York State Department of Taxation and Finance in memorandum TSB-M-12(5)S, which provides sale tax guidance on the sales tax treatment of botulinum toxin, often sold under the trade name of Botox, and similar cosmetic products.
NYSSCPA Executive Director Honored
Joanne S. Barry, executive director of the NYSSCPA, has been named this year's "Outstanding Association Executive" by the New York Society of Association Executives. It’s one of the association's Synergy Awards, which go to "individuals who have demonstrated leadership, service and special achievements that benefit the entire association and not-for-profit profession," according to the NYSAE.
SOX amendment could ax auditor rotation
A six-line amendment to the Sarbanes-Oxley Act of 2002 could put to bed a controversial Public Company Accounting Oversight Board’s proposal to mandate audit firm rotation, reports Compliance Week.
SCOTUS to Hear Healthcare Case
The United States Supreme Court has convened today to hear the first set of arguments over the Patient Protection and Affordable Care Act, specifically the individual mandate provision which requires that virtually all Americans purchase some form of health insurance, according to the Washington Post.
IRS Upgrades Late Payment Rules
As clients get closer to having to file their taxes—and possibly write a check—the IRS has announced that taxpayers in certain circumstances can take advantage of provisions to delay paying taxes and to enter into an installment agreement.
Congress Now Barred from Inside Trading
The U.S. Senate approved legislation banning inside trading by members of Congress on a 96-3 vote on Thursday, sending the STOCK Act to the president to now be signed into law, according to the New York Times.
New York Gets a "D" on Report Card
The State Integrity Investigation, a project of the nonpartisan Center for Public Integrity, has given the Empire State low ratings on a new Corruption Risk Report Card. At least it's in good company: 16 other states also received a D or worse and no one got an "A."