New York news

Tax

IRS Opens Window Longer for Sandy Victims

The IRS is throwing yet another life preserver to taxpayers who were victimized by Hurricane Sandy. Under a new Notice, these taxpayers now have until October 15, 2013, to deduct their disaster-area losses on a 2011 or 2012 return.
Tax

Is Pole Dancing a Tax-Exempt Art Form?

If the owners of the Upstate New York strip club Nite Moves have their way, the Supreme Court will be taking up that question. They are challenging a $124,921 tax bill levied by state tax authorities and affirmed by appeals court judges.
Tax

Lindsay Lohan: Home on the Auction Block

Another round of bad news for the "Mean Girls" star Lindsay Lohan (age twenty-six) and her mom, Dina (age fifty). In early February they were greeted by an envelope tacked on the gate of their Merrick, New York, mansion.
Education & Careers

Judge Rules KPMG Gender Discrimination Suit Can Proceed

A class-action gender discrimination lawsuit filed by five former KPMG LLP female professional employees against the Big Four accounting firm may go forward, a US district court judge in New York ruled February 7.
Practice

Calogero & Associates Combines with Dermody, Burke & Brown

Calogero & Associates, a Utica, New York, accounting and consulting firm, has combined its practice with that of the accounting firm of Dermody, Burke & Brown, CPAs, LLC, based in Syracuse, New York.
Tax

IRS Intensifies National Crackdown on Identity Theft

Continuing a year-long enforcement push against refund fraud and identity theft, the IRS announced the results of a massive national sweep targeting identity theft suspects in thirty-two states and Puerto Rico, involving 215 cities.
Education & Careers

Perfect Pitch: Competition to Spur Student Entrepreneurs

A diverse set of young entrepreneurs from colleges and universities across the United States will be competing in the Eleventh Annual SmartPitch Challenge, hosted by Baruch College and IBM.
Education & Careers

University of Texas Wins Deloitte Tax Competition

A team of five University of Texas at Austin accounting students maintained Longhorn pride when they won a national intercollegiate competition by solving a complex tax problem.
Tax

Plaxico Burress Needs Professional Help

NFL wide receiver Plaxico Burress needs a good financial advisor . . . or a team of them. He seems to be his own worst enemy, with a long track record of self-inflicted wounds – financial, physical, and behavioral – followed by a career-crashing stint in prison.
Tax

Crime Watch: January 24, 2013

A tax return preparer in Florida allegedly falsified tax returns that cost the US Treasury more than $17 million. After examining over 250 tax returns, the IRS found that over 90 percent understated the taxpayer's liability.
Tax

AICPA Asks Congress to Amend Hurricane Sandy Tax Relief Act

The American Institute of CPAs (AICPA) is asking Congress to amend its Hurricane Sandy tax relief legislation by extending the replacement period for which taxpayers can claim a property loss.
Practice

Patricia Cornwell Sues Accountant for Financial Mismanagement

A high-profile court case in Boston, now in its second week, raises questions about where accountants and financial advisors fiduciary responsibilities for clients end.
Education & Careers

Rochester CPAs Raising Funds to Build Habitat Home

Most people kicked off the New Year vowing to get fit or eat healthy. But members of the Rochester NYSSCPA started off the year with a much more altruistic goal – to raise $75,000 for a Flower City Habitat for Humanity home.
Education & Careers

Beyond Borders – Ernst & Young Assists Global Entrepreneurs

When Angela Gomez had the chance to push her passion for entrepreneurship and her professional skill set to the max by volunteering to assist global entrepreneurs, she jumped at the chance.
Practice

ParenteBeard Combines with Presscott Associates

ParenteBeard LLC, a top twenty-five, US accounting firm, and Presscott Associates, Ltd., a prominent health care management consulting firm, announced they have combined practices as of December 31, 2012.
Practice

Tinari Economics Group and Sobel & Co. Team Up

Sobel & Co., a CPA firm in the New Jersey/New York marketplace, and Tinari Economics Group (TEG), with offices in New Jersey and New York, announced TEG has joined Sobel & Co. as a wholly owned subsidiary.
Practice

Two Accounting Firms Announce Merger

Effective January 1, 2013, the long-standing firm of Jay R. Horowitz CPA P.C. has merged its practice into the firm of Miller & Company, LLP in Manhattan, New York.
Education & Careers

Wealth Management Firm Meets Needs of LGBT Clients

Christopher Street Financial, a New York-based wealth management firm, was founded in 1981 when Bob Casaletto, a gay man who worked at Merrill Lynch, realized that the financial needs of people in his community weren't being met.
Tax

Stephen Baldwin: Arrested for Tax Evasion

Just days ago, New York State tax authorities arrested actor Stephen Baldwin on felony tax evasion charges. Baldwin owes an estimated $350,000 in taxes and penalties, according to Rockland County DA Thomas Zugibe.
Tax

Goodbye Norma Jean, Hello Estate Issues

It's been over half a century since Marilyn Monroe passed away at age thirty-six, but her estate is still involved in tax-related litigation.

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