News

The crush of 30,000 applications for a $30 million program to compensate Connecticut workers who couldn’t work from home at the beginning of the pandemic is expected to be fully functional by the end of the week.

The BORGIDA CARES! Team participated in the American Cancer Society’s (ACS) Daffodil Days and sold luminarias, homemade paper lanterns – decorated with the names of loved ones. Each Luminaria is in honor or remembrance of a life touched by cancer, accompanied by a moment of silence for those lost. The team also held a “Toast for a Cure” fundraising event at a local brewery, Labyrinth Brewing Company in Manchester, CT. Pictures from the events can be found on the Borgida & Company website.

This spring, 27 Connecticut residents graduated from the 2022 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.

By CTCPA Advisory Council Chair Jim Norton, CPA, GRF CPAs & Advisors

By CTCPA Chair Michael Maksymiw Jr., CPA, Aprio Firm Foundation

Ryan C. Sheppard, CPA, CFF was named a Fairfield Man of Influence in the June issue of Fairfield Lifestyle.

Over 90 Whittlesey team members across Connecticut and Western Massachusetts celebrated Community Day, an annual day of service representing the firm’s year-round commitment to giving back to local communities. For the past twelve years, hundreds of Whittlesey volunteers have put aside their daily work to partake in various projects ranging from painting classrooms to building homes.

The Accounting Scholarship Foundation of the Connecticut Society of Certified Public Accountants (CTCPA) presented more than $45,000 in scholarships at the CTCPA Recognition Reception held recently at the Wallingford Country Club.

A U.S. accounting firm is not prohibited by a White House executive order regarding U.S. sanctions against Russia from providing tax advisory and preparation services to the U.S. subsidiary of a Russian company in certain scenarios, according to guidance issued Thursday by Treasury's Office of Foreign Assets Control (OFAC).

Adam O’Feeney, CPA, and senior manager at CironeFriedberg, LLP, joins the prestigious list of accomplished awardees of the 2022 Fairfield County 40 Under Forty award.

The Connecticut Society of Certified Public Accountants (CTCPA) honored Susan A. Martinelli, CPA of Southington with the 2022 Jack Brooks Leadership Award recently at the CTCPA Annual Meeting.

The Connecticut Society of Certified Public Accountants (CTCPA) has elected and installed its Board of Directors for the 2022-2023 activity year.

IRS Commissioner Charles Rettig updated members of the Senate Finance Committee Thursday on the Service's performance in the soon-to-be-concluded tax filing season, as well as longer-term assessments of its efforts to modernize its operations, fill staffing gaps, and improve taxpayer service and enforcement.

Harper & Whitfield is fortunate to have Becky join the leadership team and continue as an integral part of its forward-thinking and success for years to come. The firm recognizes the dedication and hard work that Becky has consistently demonstrated, while providing excellent client service, managing the completion of numerous important internal administrative projects, and serving as a go-to resource throughout the firm.

By Jim Norton, CPA, GRF CPAs & Advisors Budgeting. Planning. Budgeting and planning. Financial planning and analysis. FP&A. Projections. Models. Forecasts. Pro formas. These are just a handful of terms that are often used interchangeably when talking about the process of analyzing an organization’s financial position. The buzz phrase that seems to resonate most with people lately is financial planning and analysis, or FP&A.

As part of ongoing efforts to provide additional help for people during this period, the IRS announced today the suspension of more than a dozen additional letters, including the mailing of automated collection notices normally issued when a taxpayer owes additional tax, and the IRS has no record of a taxpayer filing a tax return.

The IRS announced Wednesday in a news release the letters and notices it will not send taxpayers as it works through its backlog of unprocessed prior-year returns.

The Internal Revenue Service has a brutal backlog of unfinished tax returns from last year, which has triggered more tax-time anxiety than one could imagine for many tax filers.

Janet Phillips, a Professor of Accounting at Southern Connecticut State University, wrote the PRJ article “An Examination of the Relationship Between the Funded Status of Defined Benefit Pension Plans and the Financial Condition of Sponsoring Organizations-Public vs. Private Sector.” The article is published in Journal of Accounting Ethics and Public Policy .23(1).

Southington firm Daigle, Smith & Chubet expanded its tax, accounting, and advisory services through its merger with Mugford & DiBella, LLC, of New Britain.