Advocacy Updates
Connecticut Legislative News
For the 2025 legislative session, CTCPA has a range of topics that we will be pushing, as well as some other initiatives we plan to be involved in.
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2025 Advocacy Snapshot
December 18, 2024
With the start of the new year comes Connecticut’s General Assembly session. This year, CTCPA has a range of topics that we will be pushing, as well as some other initiatives we plan to be involved in. Here's a snapshot of some of our initiatives:
CT cancels $30M in medical debt for thousands of residents
December 16, 2024
Around 15% of households carry medical debt, according to data from the Census Bureau.
Republicans Announce Committee Leadership Assignments for Upcoming Session
December 13, 2024
Republican leaders in the House and Senate announced the ranking member assignments for the joint committees in the Connecticut General Assembly for the upcoming legislative session.
Report: State Potentially Facing A ‘Fiscal Cliff’ Under Current Fiscal Guardrails
December 12, 2024
OPM: Key Benefit Of Guardrails Is That They Also Protect Essential Services
In-Depth Review of CT Budget Guardrails Provides Analysis to Inform Policy
December 11, 2024
As policymakers debate the future of Connecticut’s “fiscal guardrails,” this series of papers offers a data-driven analysis of the guardrails, their impact, and a framework for considering possible adjustments.
Report: About half of the population lacks economic security
December 10, 2024
Analysis fuels advocates for new CT income tax break for families.
Federal Legislative News
BOI reporting deadline extension proposed in House draft budget bill
December 18, 2024
The Jan. 1, 2025, deadline for reporting companies to file beneficial ownership information (BOI) reports could be extended by one year, based on a draft continuing resolution proposed in the House of Representatives. The 1,500-page short-term funding bill, which would keep the government funded until March 14, 2025, could be voted on today by the House and shortly thereafter by the Senate.
Engagement quality reviews: What auditors should know
December 09, 2024
Firms with A&A practices should pay particular attention to the new standard on engagement quality reviews (EQRs) as they implement the new suite of quality management (QM) standards that are effective Dec. 15, 2025.
Court halts BOI reporting; AICPA urges preparedness
December 06, 2024
A federal district court, finding that the Corporate Transparency Act (CTA) is likely unconstitutional, issued an order Tuesday prohibiting the enforcement of the CTA and the beneficial ownership information (BOI) reporting rule in the CTA’s accompanying regulations.
Court Blocks Corporate Transparency Act: A Win For Federalism?
December 04, 2024
In Texas Top Cop Shop v Garland et al. ( case 4:24-cv-00478 December 3, 2024) , the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction against the enforcement of the Corporate Transparency Act (CTA), questioning its constitutionality and its impact on small businesses. The CTA, enacted as part of broader anti-money laundering efforts, mandates companies to disclose their beneficial ownership information to a federal database maintained by the Financial Crimes Enforcement Network (FinCEN).
U.S. District Court suspends implementation of BOI reporting requirements
December 04, 2024
The U.S. District Court for the Eastern District of Texas has suspended the implementation of the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) reporting requirements.
Melancon leaves AICPA with a legacy of change
December 01, 2024
The transformative leader, who is retiring on Dec. 31, guided the organization and the profession for nearly three decades.