While several changes were made, one of the most important was changing the 11-Month Rule for determining whether someone is a permanent resident of New York state to a 10-Month Rule, beginning in the tax year 2022.
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As of the 2021 financial reporting period, the Statement of Auditing Standards (SAS) No. 134 audit opinion requirements went through substantial changes. The new standards take effect for audits of financial statements for periods ending on or after Dec. 15, 2021.
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Selected for an audit? It doesn’t always mean there’s a problem. But you should have a plan. Click through for tips on what to do if the IRS selects you.
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