Advocacy Updates
2025 Legislative Initiatives
Advocacy continues to be rated as a top benefit for CTCPA members, and we're working hard for you at the state Capitol and beyond. Here are this legislative session's top initiatives:
DRS Grants Two of CTCPA’s Three Requested Filing Extensions
In response to your concerns due to form delays, we asked the DRS to extend three deadlines from March 15, 2025 to April 15, 2025. Based on the DRS Commissioner’s authority to extend, due to statutory limitations, he was only able to extend two of the dates to April 15, 2025 as requested:
- Form CT-PET, Connecticut Pass-Through Entity Tax Return
- Form CT-1065/CT-1120SI, Connecticut Composite Income Tax Return
The DRS is unable to extend Form CT-PET EXT, Application for Extension of Time. This means that if anyone anticipates needing to file for extension, that form needs to be filed by March 15, 2025.
Reducing CPA Licensing Fee to $100
As requested by CTCPA, the General Law Committee has raised Senate Bill 611: An Act Establishing a Maximum Charge for Certain Occupational Licenses, Certifications, Permits and Registrations. This measure would cap the Connecticut CPA annual license fee as well as the initial certification fee at $100.
This issue is extremely important to Connecticut CPAs, who have by far the highest CPA licensing fee in the country at $565 (view the chart here).
Adding Additional CPA Licensure Pathways, Automatic Mobility
We are advocating for Connecticut to adopt three flexible pathways to CPA licensure, expanding access to the profession while ensuring continued integrity of the credential. We are also purusing an automatic or enhanced mobility model to grant CPAs licensed in other states the privilege to practice here without administrative hurdles.
The proposals have been released as Raised Bill 7020, An Act Concerning Certified Public Accountants, and will be heard before the General Law Committee on February 26.
Beneficial Ownership Information Reporting and the Corporate Transparency Act
The Financial Crimes Enforcement Network (FinCEN) has announced that most businesses required to comply with beneficial ownership information (BOI) filings will have until March 21 to do so following a federal district court ruling lifting the last remaining nationwide injunction halting filings.
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Connecticut Legislative News
DRS Grants Two of CTCPA’s Three Requested Filing Extensions
February 20, 2025
We asked the DRS to extend three deadlines from March 15, 2025 to April 15, 2025. Based on the DRS Commissioner’s authority to extend, due to statutory limitations, he was only able to extend two of the dates to April 15, 2025 as requested: Form CT-PET, Connecticut Pass-Through Entity Tax Return and Form CT-1065/CT-1120SI, Connecticut Composite Income Tax Return.
Analysts: CT is paying off pension debt faster than all other states
February 19, 2025
CT has saved 9% of budget on average since 2017.
CT legislators plan $40M in immediate special education funding
February 19, 2025
The Connecticut General Assembly intends to vote next week on a $40 million supplemental appropriation to help local school systems offset rising special education costs in the current fiscal year, legislative leaders said Wednesday.
Governor Lamont Proposes Additional Tax Relief: Increase the Property Tax Credit and Expand Eligibility
February 18, 2025
Governor Ned Lamont today announced that the fiscal year 2026/2027 biennial budget proposal he presented to the Connecticut General Assembly earlier this month includes a recommendation that the state’s property tax credit, which provides a credit to income tax filers for property tax payments made on eligible property, be increased to $350. Additionally, the governor is proposing to expand eligibility for the credit to include more income tax filers.
The regulatory forecast: Less, and lighter
February 18, 2025
Get ready for a very different regulatory environment.
Will Connecticut finally regulate artificial intelligence?
February 18, 2025
As a human being, James Maroney is a believer in the potential of artificial intelligence to do good.
Federal Legislative News
March 21 BOI reporting deadline set; further delay possible
February 19, 2025
A federal district court lifted the last remaining nationwide injunction stopping beneficial ownership information (BOI) filing requirements, but the federal enforcement agency has promised at least a 30-day delay before new filings will be required.
IRS layoffs expected despite tax season assurances
February 18, 2025
The Internal Revenue Service is reportedly planning layoffs of thousands of first-year probationary employees in the midst of tax season, perhaps as soon as this week.
The regulatory forecast: Less, and lighter
February 18, 2025
Get ready for a very different regulatory environment.
AICPA urges IRS to meet needs of taxpayers, preparers during filing season
February 16, 2025
AICPA leaders said Sunday the IRS should consider the needs of taxpayers and preparers as officials make plans to carry out President Donald Trump's direction to cut the federal workforce.
House GOP takes first step toward tax cuts, debt limit increase
February 12, 2025
House Republican leaders took the first step Wednesday toward enacting trillions of dollars in tax cuts and raising the nation's $36 trillion debt limit, offering a plan that risks rankling quarreling factions in the party.
House of Representatives Passes Delay BOI Bill
February 12, 2025
H.R. 736, Protect Small Businesses from Excessive Paperwork Act of 2025 (Rep. Zach Nunn, IA-3), which would delay FinCEN BOI reporting for one year (until January 1, 2026), passed the House of Representatives by a vote of 408-0. The bill now goes to the Senate for consideration.
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We're working hard for you at the State Capitol - but we can't do it alone. We'd like to thank the CTCPA members who've helped us this legislative session, whether they've written testimony, contacted their legislators, or contributed to our advocacy efforts.