News

Connecticut’s nonprofit community service providers urged lawmakers Monday to find an additional $186 million to fund their work next year or risk some agencies shutting down, as well as higher downstream costs for things like untreated addiction, hunger, homelessness, or an inability to get healthcare.

Executive leaders are just like everyone else — aiming to stay current with today's ever-changing workplace.

Poor households still face effective state and municipal tax rate of 32%.

A SoFi survey indicates stress over personal finances may affect employee productivity, and HR may be underestimating the consequences.

Policymakers and advocates disagree on what, if anything, the Connecticut legislature should do after data from the U.S. Census showed child poverty doubled nationwide. But at least two organizations are making an argument with data to back their push for a state-level child tax credit to address the issue.

Treasury' Financial Crimes Enforcement Network (FinCEN) released a guide for rules regarding access to beneficial ownership information (BOI) by some financial institutions, including rules regarding customer consent.

The state senate’s Planning and Development Committee worked through a packed agenda on Wednesday morning to set its policy priorities for the rest of the session.

CFOs and consultants discuss tax policy and hidden taxes ahead of the 2024 U.S. federal and state elections.

CFOs need to incorporate tax analysis as part of their strategic decision-making or find themselves dealing with unexpected financial and operational outcomes.

Senate Democrats presented the second part of their 2024 legislative agenda – mostly focused on healthcare – in a news conference Wednesday morning at the Legislative Office Building in Hartford.

Microsoft’s “Power” suite of tools can help make you both more efficient and effective in your data preparation, analysis, and visualisation work.

Changes to email security standards from several large providers could see accounting firm emails that fail authentication marked as spam or rejected outright, unless their settings are correctly configured.

The GASB held its first meeting on June 14, 1984, at the Board’s offices in High Ridge Park in Stamford, CT. Since that day, our Board and staff have worked to develop and maintain high-quality accounting and financial reporting standards for state and local governments across the United States. Ultimately, those standards have helped ensure that users of government financial statements have access to information they can use to make decisions and assess accountability.

The employee retention credit (ERC), as authorized under pandemic-era legislation to assist businesses with the costs of retaining employees, has been claimed by many employers for applicable quarters in 2020 and 2021. This article discusses the requirement to amend income tax returns in connection with an ERC claim and to review the professional responsibility to which all CPAs must adhere in amending these income tax returns.

Lawmakers have set off on a sprint of business in this year’s legislative session, which kicked off earlier this month.

Is coverage available for services related to the CTA? CNA’s accountants professional liability policies generally will cover Professional Services associated with the CTA by an Insured accounting firm, subject to other applicable policy terms, conditions, and exclusions.

The Financial Crimes Enforcement Network (FinCEN) will not use "gotcha enforcement actions" against small businesses when it finds errors in reports of beneficial ownership information (BOI), the network's director told a congressional committee on Wednesday.

IRS Commissioner Danny Werfel defended his agency's delay of the implementation of a lower threshold for reporting income on Forms 1099-K, telling a House committee on Thursday that his office has the responsibility to protect taxpayer rights.

Learn how to mitigate the unique risks CPA firms may encounter when delivering CTA compliance/BOI reporting services. A sample engagement letter is included.

The Senate and House both voted unanimously Wednesday to pass an emergency act to give extra funding to those in need of fuel assistance. And Gov. Ned Lamont signed it into law.