News

This spring, several Connecticut residents graduated from the 2024 class of the Connecticut Professionals' Leadership Academy, a program designed to strengthen leadership skills, develop and build relationships, and create a collaborative professional services community. This landmark program brings together professionals from various industries and backgrounds, including accounting and finance, law, insurance and architecture.

The result is dissonant in a current environment where most finance chiefs agree that risk-taking isn’t especially prudent.

As the Federal Trade Commission prepares to enforce its ban on non-compete agreements (NCAs), the agency’s chair spoke in Hartford about some of the gaps that could still remain when the rule goes into effect.

The Department of the Treasury and the Internal Revenue Service issued final regulations today on the prevailing wage and apprenticeship (PWA) requirements related to increased credit or deduction amounts for certain clean energy incentives, enacted as a part of the Inflation Reduction Act (IRA).

About a year ago at AICPA & CIMA ENGAGE, small firm owner Amber Goering, CPA, CGMA, teamed up with David Wurtzbacher, the founder and CEO of a private-equity-backed strategic partner for regional firms, to lead a panel discussion titled, "Small Firm Succession — Are You Ready for the Next Wave of M&A?"

Those identified as merely “tacticians” may be hampering their professional growth by limited access to resources.

The IRS provided another limited waiver of the addition to tax under Sec. 6655 for a corporate taxpayer's failure to pay estimated income tax with respect to its Sec. 55 corporate alternative minimum tax (AMT) liability.

Governor must find big savings once next CT budget gets underway in July.

Gov. Ned Lamont finished his review Thursday of the 175 bills passed by the General Assembly in the regular 2024 session, signing one final bill: a measure making numerous unrelated changes to insurance statutes.

In September 2023, the IRS announced a moratorium on the processing of new employee retention credit (ERC) claims because of what it said was rampant fraud.

“Write a 1,200-word article regarding how CPA firms can manage risk related to the use of ChatGPT and other forms of generative AI.” This easy ChatGPT request would have resulted in the production of this month’s column in a far more expeditious manner than writing one from scratch, but would it have been as informative or accurate? ChatGPT is an example of generative artificial intelligence (AI), and its popularity has soared since its introduction to the public in November 2022. Given ChatGPT’s versatility, speed, and ability to engage in human-like conversations, it’s easy to see why.

Leaders who will not sacrifice efficiency today for greater innovation tomorrow may lose their competitive edge, according to a new report.

Programs will responsibly enable non-profits to do more good with the latest AI technologies and help equip the future workforces with critical AI skills.

At the June 6 Recognition Reception, Educators of Excellence ("Eddys") awards were handed out to Michele Ganon of Western Connecticut State University and, posthumously, to the family of longtime University of Connecticut professor and CTCPA past president Larry Gramling.

In May, CTCPA Executive Director Bonnie Stewart headed to Orlando, FL with AICPA Council members Katherine Patnaude of PKF O’Connor Davies and Amber Moore of Goldblatt Bokoff for the spring AICPA Council. Katherine and Amber had a front row seat to the profession, gleaning insight on where we stand today

The amount of time that identity theft victims have to wait for tax refunds has increased as the Internal Revenue Service has shifted priorities, with some victims waiting nearly two years.

Conversations about the General Assembly’s imminent special session loomed after the State Bond Commission meeting Friday, with Gov. Ned Lamont laying out his priorities for the opportunity to address some leftover issues.

According to the Society for Human Resource Management, 4 percent of organizations now offer unlimited paid time off. That number may continue to rise as startups and large organizations alike continue experimenting with this policy.

The IRS now has enough money that it can hire more experienced workers to audit both companies and individuals, and it does not have to pick and choose among whom to audit, a managing director at Grant Thornton told attendees at AICPA & CIMA ENGAGE 2024 in Las Vegas.

Finding qualified staff is the most pressing concern of accounting firms except sole practitioners, according to survey results released by the AICPA's firm practice management section. Sole practitioners who participated in the biennial Private Companies Practice Section (PCPS) CPA Firm Top Issues Survey chose "keeping up with the changes and complexity of tax laws" as their top challenge.