When Business Slows Down, New York’s Shared Work Program Helps You Retain Valued Employees

When Business Slows Down, New York’s Shared Work Program Helps You Retain Valued Employees

Perhaps the only thing harder than finding valued employees these days is having to lay off employees when business slows down. The New York State Department of Labor (NYS DOL) has a long-standing program that gives you an alternative to lay-offs. It’s called The Shared Work Program. Here are some highlights…

Who Is Eligible?

If you have two or more full-time employees in NYS; you have paid into unemployment insurance for at least four consecutive calendar quarters; and participation helps your organization avoid layoffs, you are eligible to apply.

What Is the Shared Work Program?

Rather than lay off valued talent during a slow period, the program allows you to reduce hours across the board for all employees or within a defined workgroup. Employees who are impacted can make up a portion of lost wages due to a reduction in hours via unemployment insurance.

For example, let’s say work is slowing down. Rather than lay off employees in the XYZ department, you file a Shared Work Plan with the NYS DOL and receive approval to reduce XYZ employees’ hours 20% for 10 weeks. Impacted employees can file for Unemployment Insurance and collect 20% of their weekly benefit. (That’s in addition to the reduced pay they receive from you for working the reduced hours.) As a result, the employees have more income than if they were laid off, and you have a valuable way to retain employees.

When should I get the process started?

Reach out to the Shared Work Program less than one month before the proposed start date. You’ll use that time to create a Shared Work Plan and apply for program approval.

Where can I learn more and apply?

For program details – including FAQs, informational videos, a program fact sheet, references from organizations and employees who have benefited from the program, how to apply, and more, click here.

Why does the NYS DOL offer this program?

This win-win program supports organizations during challenging times by helping them retain valued employees. At the same time, it helps employees stay employed and make up a portion of wages lost due to a reduction in hours.


Develop a Shared Work plan and then apply online. You’ll be assigned a dedicated representative to help guide you. Approvals are granted within 48 hours and can be adjusted weekly. Once business picks up, you can quickly resume normal operations with the same employees you have come to count on…and who knows they can count on you.


We hope this reminder proves useful. Please know you can always count on RBT CPAs for all your accounting, tax, audit, and advisory needs. To learn more, give us a call today. RBT CPAs does not outsource work to any other country. All of our work is prepared in the U.S.A. 

Our Thoughts on the IRS’s $80 Billion Plan

Our Thoughts on the IRS’s $80 Billion Plan

Since April 6, the Internal Revenue Service’s (IRS’s) $80 billion plan – funded under the Inflation Reduction Act (IRA) – has fueled a lot of analysis and speculation among media sources, industry groups, political parties, and American taxpayers in general.

While numerous resources sharing their opinions cater to certain demographics and affiliations, only time will tell whose interpretation is most accurate (or whether they are all accurate in some way). In the meantime, we at RBT CPAs have taken a detailed look at the plan, as well as thoughts from other sources. Following is our initial take on what is sure to be the topic of many office and dinner discussions in the days ahead.

To start with the basics, the plan defines five key objectives, which will be achieved through 42 key initiatives with over 190 programs and 200 milestones between 2023 and 2031:

  1. Dramatically improve services to help taxpayers meet their obligations and receive the tax incentives for which they are eligible
  2. Quickly resolve taxpayer issues
  3. Expand enforcement on taxpayers with complex tax filings and high dollar noncompliance
  4. Operate more effectively using innovative technology, data, and analytics
  5. Attract, retain, and empower a highly skilled, diverse workforce and culture

Based on these objectives alone, we think it is fair to say the plan is comprehensive and addresses the critical components required to transform the agency and bring it into the 21st century. Upon a closer look at the plan, some additional observations began to emerge:

There is going to be more to the story.

The first page indicates the plan covers 2023 to 2031. Yet, most of the milestones outlined in the plan appear to be accomplished by 2025 and 2026. While we agree it is strategic to reassess and refine plans along the way, we do believe this opens the door for a sequel to the plan in a few years, and there is no telling how the story will play out.

The main goal is hiding in plain sight.

Although there is a lot of emphasis on service, technology upgrades, and building a skilled workforce and the right culture, it is striking how often the plan references and returns to enforcement. When you look purely at the financial investment and timeline, it is clear the biggest priority is to address the “tax gap.” Over half the planned investment targets enforcement. Most of the milestones for enforcement show progress being driven by 2025. Even the mission statement published at the start of the plan seems to make clear what’s the top priority: “Provide America’s taxpayers top-quality service by helping them understand and meet their tax responsibilities and enforce the law with integrity and fairness to all.”

Even with multiple references to the enforcement focus being on high income and high wealth individuals, partnerships and corporations, we can’t help but notice the four words that follow the discussion on how this will impact those making under $400,000 annually: “All efforts will comply with your directive not to use IRA resources to raise audit rates on small businesses and households making under $400,000 per year, relative to historic levels.” So, while there is no doubt enforcement will primarily target high income earners, the same percentage of lower earners audited today will continue to be audited in the future. The enhanced workforce and technology capabilities, we speculate, may result in audits garnering more income for the IRS than in the past.

We do not know how far back the new-and-improved IRS will reach in terms of enforcement.

As noted on the IRS webpage on audits, “Generally, the IRS can include returns filed within the last three years in an audit. If we identify a substantial error, we may add additional years. We usually do not go back more than the last six years. The IRS tries to audit tax returns as soon as possible after they are filed. Accordingly, most audits will be of returns filed within the last two years.” We only mention this because it goes hand in hand with our prior point: with more enforcement, not only will there be more audits, but each one may be more fruitful for the IRS than what they are now.

There are three key “ifs” that may impact the plan’s execution.

First, each program in the plan highlights numerous co-dependencies or contingencies – meaning all the stars will have to align for this to be executed as planned.

Second, there are a number of references to the importance of annual IRS funding and increases for inflation. Should this not occur, funding for the plan – and its impact – may erode. (See Commissioner Werfel’s cover memorandum stating: “To cover steady state operations, annual discretionary appropriations must be fully maintained at the FY 2022 level, including growth for inflation and pay raises. Any reduction in annual discretionary funds – including not providing for inflationary increases to maintain current levels – will require IRA funding to be shifted to general operations.”)

And third, the plan relies on a significant uptick in all types of staffing at the same time the talent pool is shrinking and competition to attract and retain highly skilled talent – including accountants and technology specialists – is fierce.

Everyone will be impacted by the plan.

Page 132 of the plan defines stakeholders. It says: “Within this Plan, taxpayers are referred to broadly and include all people and groups whom we serve, including: • Individuals and families • Businesses large and small • Charities and other tax-exempt organizations • International taxpayers • Federal, state, and local governments • Tribal nations • Tax professionals and others who assist and serve taxpayers.” Translation: While there will be a lot of focus on high earning, wealthy individuals and institutions, everyone is going to feel the impact somehow. Exactly how remains to be seen.

One other thought:

While some are still calling for the IRS to reallocate the budget so there’s equal emphasis on service, technology and enforcement, the fact is the IRS does not have the discretion to change how funds are allocated. Still, with groups like the American Institute of Certified Public Accountants calling for a more equitable allocation of funds, you never know…


This story will be continued in the days, months and years ahead. We will be sure to keep you updated and share our thoughts as things unfold. If in the meantime, you have any questions or need accounting, tax, auditing, or advisory services, RBT CPAs is here for you. Just give us a call. NOTE: This alert shares RBT CPAs’ initial interpretations. It should not be construed as legal or financial advice or direction.

Visions Human Resource Services, LLC’s Kelly Caldwell, Admitted to the Partnership


Kelly M. Caldwell, SHRM-SCP

Visions Human Resource Services, LLC, an affiliate of RBT CPAs, takes great pleasure in announcing that Kelly Caldwell of Saugerties, New York has been named Partner.

Kelly graduated from SUNY Ulster with an associate degree in Individual Studies, earned a Paralegal certificate from Marist College, and received a Certificate in Leadership from The Chamber Foundation, Inc. She also has her certification as a Senior Human Resources (SHRM-SCP) Professional from the Society of Human Resources Management (SHRM). She joined Visions Human Resource Services in 2022.

Kelly is very active in her community, volunteering with several organizations including the Kingston Chapter of the Association of Junior Leagues International and the Kingston Chapter of Kiwanis International. She is also the Mid-Hudson Chapter President for SHRM and a member of SHRM’s New York State Council and Insights Panel.

Kelly is a lifelong Hudson Valley resident. Since 2009, she has lived in Saugerties with her daughter Bailey.

She says, “Being a partner enables me to bring another level of experience and knowledge to client engagements. In addition to specializing in human resources, I now share many of my clients’ concerns and priorities as a business owner. This will make me even more effective at helping business owners with everything related to having employees, so they’re freed up to focus on what they need to do to succeed in the core of their businesses.”

Visions Partner Janet Gianetta says, “I am very pleased and proud for Kelly to be a Partner in Visions HR.  She is a highly skilled, Certified HR professional and is an excellent resource for our clients.”

RBT Managing Partner, Michael Turturro adds, “Congratulations to Kelly! We are thrilled to have Kelly as a Visions HR Partner and know she is going to do great things for our clients and other Hudson Valley businesses in the future.”

RBT CPA’s Kirstyn Cerone, CPA, Admitted to the Partnership


Kirstyn P. Cerone, CPA, MBA

RBT CPAs LLP, takes great pleasure in announcing that Kirstyn Cerone, CPA, of Montgomery, New York, has been admitted to the Firm as a Partner.

Kirstyn has been with the Firm since 2013, when she graduated Mount Saint Mary College with an Accounting degree and subsequently earned an MBA. Kirstyn works out of the Client Advisory Services Department in the Newburgh office. She is also Treasurer for the Business Council of Greater Montgomery and on the parent advisory board at the Children’s Hospital of Philadelphia for the spina bifida program. Kirstyn grew up in Montgomery, where she now resides with her husband Dave and son David.

Of her new role, Kirstyn says, “I am most excited about being able to play a leadership role in advancing the firm by helping our clients and my team develop, grow, and succeed.”

Managing Partner, Michael Turturro adds, “Kirstyn is one of the most genuine people you’ll ever meet. She is whole heartedly committed to treating her clients and team the way she wants to be treated and to going above and beyond to help them succeed. RBT is lucky to have her as a Partner and we can’t wait to see the amazing things she is going to do in the years ahead.”

RBT CPA’s Chris Seger, CPA, Admitted to the Partnership


Christopher J. Seger, CPA, MAcc

RBT CPAs LLP, takes great pleasure in announcing that Chris Seger, CPA, of Montgomery, New York, has been admitted to the Firm as a Partner.

Chris graduated from Coastal Carolina University with a bachelor’s degree in Accounting in 2014 and a master’s degree in Accounting with a focus on taxation in 2015. He joined RBT CPAs in 2015 as a member of the Client Advisory Services team in Newburgh, and earned his CPA in 2016.

Chris strives to make a difference in the local community. He is a board member of the New York State Society of CPAs Mid-Hudson Chapter and Walden Rotary member. Chris is also treasurer and a board member of Independent Living, Inc., which advocates and strives to provide the highest quality of life for all.

Chris was born in Lake Katrine and grew up in New Paltz. After moving south for college, he returned to the Hudson Valley, building a home in Montgomery with his wife Katrina and his children Harlow and Grayson. In his spare time, Chris enjoys working on home projects and cars.

He says, “RBT is a wonderful place to work. The firm is very client focused and makes client relationships the main priority. It is our goal to get to know our clients and support them in ways that allow us to see their businesses grow.”

Managing Partner, Michael Turturro adds, “Chris has a tremendous amount of energy and enthusiasm, which he puts into everything he does. I look forward to watching him grow as a leader and major contributor to our clients’ and company’s success.”

RBT CPA’s Kurtis Nordahl, CPA, Admitted to the Partnership


Kurtis M. Nordahl, CPA, MBA

RBT CPAs LLP, takes great pleasure in announcing that Kurtis Nordahl, CPA, of Modena, New York, has been admitted to the Firm as a Partner.

Kurtis has a bachelor’s degree in math, a bachelor’s degree in accounting and an MBA from SUNY New Paltz. He joined RBT in Client Advisory Services in the Newburgh office in 2012 and earned his CPA in 2014. Kurtis is currently treasurer of the local Southern Ulster Rotary. He also serves as treasurer for ARC of the Greater Hudson Valley and is on the finance committee for the Community Foundation of Orange and Sullivan.

Kurtis grew up in the Hudson Valley, where his father ran a small business and his two sons – Zakary and Lukas – currently attend the same school district he and his wife Ashley did growing up. In his free time, he enjoys long distance running and cross-country skiing, as well as being an active and involved dad.

He is excited to begin his new role at RBT and says, “We’re innovative. We listen to our clients and team members and try to implement change when we can. I also believe in our commitment to quality. You can get taxes done anywhere, but we really care about the work and getting it done right.”

Managing Partner, Michael Turturro adds, “Kurtis keeps his eye on the prize and works tirelessly to achieve what he sets his mind to. He will undoubtedly deliver a lot of value to our company, clients, and team in the years ahead.”

RBT CPA’s Nicholas Watkins, CPA, Admitted to the Partnership


Nicholas A. Watkins, CPA, MBA

RBT CPAs LLP, takes great pleasure in announcing that Nicholas Watkins, CPA, of New Windsor, New York, has been admitted to the Firm as a Partner.

Nick graduated from SUNY New Paltz with an Accounting degree in 2013 and joined RBT CPAs’ Tax Department in the Newburgh office in 2015. Nick is on the local Board for the New York State Society of CPAs, serves as the group’s Secretary, and chairs the NextGen Committee. He is also President of the Mid-Hudson Bowling Association responsible for promoting the sport of bowling through leagues, tournaments, and fundraisers.

Nick grew up in the Hudson Valley. An avid bowler, you’ll likely find him at the lanes at least once a week or watching or attending a New York sporting event as a huge Mets, Jets, and Rangers fan.  On becoming partner, Nick says, “A lot of people have helped me get to where I am, and I want to do the same for others – to help them get to the next level in their career.”

Managing Partner, Michael Turturro adds, “Nick is a focused, thoughtful, and tenacious professional who continuously delivers value to our team, clients, and firm. He is a welcome addition to our partnership. We know there are great things ahead for Nick and RBT.”

RBT CPA’s Rebecca Reynolds, CPA, Admitted to the Partnership


Rebecca J. Reynolds, CPA, MBA

RBT CPAs LLP, takes great pleasure in announcing that Rebecca Reynolds, CPA, of Highland, New York, has been admitted to the Firm as a Partner.

Rebecca has been with the Firm’s Audit Department in Newburgh since 2014, when she graduated Mount Saint Mary College with an Accounting degree and subsequently earned an MBA. Rebecca is on the SUNY Orange Foundation Board, as well as the Board of Community Foundations of the Hudson Valley where she also serves as an Audit Committee chair. She has been volunteering with the United Way of Orange-Dutchess for more than eight years.

Rebecca grew up in Ulster County, NY and continues to live in Highland with her husband Chris and their two dogs. Rebecca says, “I am most excited to work on and grow our Audit team in the Poughkeepsie office, where we’re building our practice and establishing a presence in Dutchess County.” She adds, “I think RBT is unique because we have the resources of a large firm thanks to our RSM alliance, but still have a tight knit family culture.”

Managing Partner, Michael Turturro says, “Rebecca is a welcome addition to our partnership team. Her professionalism, energy, and enthusiasm are contagious and will no doubt contribute to her continued success as a team leader and valued client resource. Congratulations, Rebecca!”

RBT CPA’s Thomas Zupan, CPA, Admitted to the Partnership


Thomas J. Zupan, CPA, MBA

RBT CPAs LLP, takes great pleasure in announcing that Thomas Zupan, CPA, of Highland, New York, has been admitted to the Firm as a Partner.

Tom graduated from Pace University with an MBA in 2014 and four years later earned his CPA license. He joined RBT CPAs right after graduation in the Newburgh office as part of the client services team, specializing in the construction industry.

Tom has been a volunteer member of the Modena Fire Department for 13 years, first as an active firefighter and later as treasurer – a role he still holds today. He was born and raised as part of a large family in Highland in Ulster County, where he currently resides with his wife Heather.  He is an avid golfer, and baseball card collector and seller.

Tom says, “At RBT, our vision and goals are not just to be the compliance accountant who files required paperwork. We want to be the trusted business advisor that clients know they can depend on to add value and help them grow.”

Managing Partner, Michael Turturro adds, “Tom is a hardworking, trustworthy professional who has put a lot of time and effort into getting to know the construction industry so he can best use his education and license to help clients in this vertical succeed. I know we’re going to see a lot of great things from Tom in the years to come.”

IRS Delays 1099-K $600 Threshold for a Year

IRS Delays 1099-K $600 Threshold for a Year

If you were worried about your business being inundated with 1099-K Forms this upcoming tax filing season, take note!

On December 23, the IRS announced third-party settlement organizations (TPSOs) “will not be required to report tax year 2022 transactions on a Form 1099-K to the IRS or the payee for the lower $600 threshold amount enacted as part of the American Rescue Plan of 2021.”

Instead, the existing 1099-K reporting threshold of $20,000 in payments from over 200 transactions will remain in effect for 2022. This will give taxpayers and tax professionals additional time to understand the new reporting requirements and help ensure a smooth transition. The new threshold of $600 – regardless of the number of transactions – will apply to business transactions that occur January 1, 2023 or later.

So, if you accepted a business-related payment from a TPSO like eBay, PayPal, Venmo or Etsy in 2022, you will not receive a 1099-K from that TPSO for this upcoming tax season, unless aggregate payments were $20,000 or more from over 200 transactions. For 2023, you will receive a 1099-K from a TPSO totaling $600 or more; then, you will need to include it as part of your tax filings.

More information, with additional details – like what you should do if you already received a 1099-K based on the lower $600 threshold – should be forthcoming from the IRS soon. We will share that information as it becomes available. In the meantime, if you have any questions, please refer to the Q&As that follow or give RBT CPAs a call.


What Is a 1099-K Form?  The form, technically known as Form 1099-K Payment Card and Third-Party Network Transactions, is used to report payments your business receives from third-party settlement organizations (TPSOs) – like eBay, PayPal, Venmo, or Etsy – if those payments exceed certain thresholds. Any 1099-K you receive becomes part of your annual tax filings and considered taxable income.

What Changed? As part of the American Rescue Plan Act, the threshold for issuing 1099-Ks changed. Before 2022, a 1099-K was issued if over 200 transactions totaled more than $20,000. Starting in 2022, that threshold was reduced to $600, regardless of the total number of transactions. However, the IRS’ recent decision to delay the adoption of the $600 threshold until 2023 will give payees, accounting firms, and the IRS another year to prepare.

Who Is Impacted? In 2023, companies like PayPal, Venmo, Square, and Stripe will be sending you a 1099-K if you receive more than $600 in annual payments for goods or services rendered. As a result, if you sell small amounts of merchandise on selling platforms like eBay or Etsy, for example, you may find yourself responsible for increased taxes. Small or midsized business owners who receive most of their customer payments from credit cards, cash, or checks will most likely be unaffected.

What About Personal Transactions? The reporting requirements are limited to goods and services, so it won’t affect funds you receive for splitting that vacation rental or dinner with family or friends. Just be sure to keep accurate records when you are paying for personal items, so it isn’t incorrectly reported to the IRS.

What’s RBT’s Advice to You?

Start planning now: If you receive payments for goods or services through third-party networks, you may end up receiving a tax form for the first time for 2023. This is going to be an administrative burden and likely complicate your tax situation. It is best to be prepared and plan for any potential tax consequences by adopting strategies to minimize your tax bill early in the year.

Keep detailed records of income/expenses related to sales activity: If you sell goods or services and get paid through a third-party network, you may be eligible to deduct expenses related to that activity. Learn more by speaking with an RBT CPA professional.


It’s always good practice to consult your tax advisor to determine how best to use the information on your Form 1099-K when filing your income tax return. As always, our team of professionals at RBT CPA’s is happy to help you navigate this and other IRS updates. Give us a call.