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The IRS furloughed almost half its workforce as the government shutdown entered its second week, the agency said Wednesday evening in its updated contingency plan.

Social Security Administration Commissioner Frank Bisignano will also serve in the newly created position of chief executive officer of the IRS, the Treasury secretary said Monday in a news release.

The Department of the Treasury and the Internal Revenue Service today issued guidance providing deposit penalty relief for the first three quarters of 2026 to remittance transfer providers. Notice 2025-55 PDF provides relief in connection with the new excise tax imposed on certain remittance transfers under the One, Big, Beautiful Bill.

Within hours of the federal government shutdown at midnight on Sept. 30, the Trump administration announced the cancellation of more than $7.5 billion in US Department of Energy awards, terminating 321 grants tied to 223 projects in 16 states.

While 70 percent of surveyed Connecticut manufacturers were profitable in 2024, nearly all saw the cost of business go up due to a variety of factors. Nearly two in three businesses though (66%) reported that the Trump administration’s tariff policies are negatively impacting them, according to a recent report issued by the state’s largest business organization.

With just two weeks until the tax filing deadline for C-corporations and individuals who requested a filing extension, the American Institute of CPAs (AICPA) is renewing its call to except 100 percent of Internal Revenue Service (IRS) employees for the duration of the shutdown, even beyond the five days already authorized in the agency’s contingency plan.

The 2025 tax filing season went smoothly with the IRS processing more tax returns than in the previous year and exceeding its level-of-service (LOS) goal set for answering phone calls, a government watchdog said in its review of the agency’s work.

The federal government shutdown that began just after midnight Wednesday morning could have wide-ranging and long-lasting effects on the state, according to Gov. Ned Lamont.

All IRS staffers will work during the first five business days of a potential government shutdown, according to a lapsed appropriations contingency plan posted Monday.

A lot of tax planning during the first half of 2025 was focused on what might happen if the individual provisions of the Tax Cuts and Jobs Act were allowed to expire at the end of 2025. Thanks to the One Big Beautiful Bill Act, officially H.R. 1, P.L 119-21 (and unofficially the OBBBA), however, Congress has generally extended those provisions and made them permanent.

The Internal Revenue Service and Treasury Department announced paper refund checks for individual taxpayers will be phased out beginning Sept. 30, 2025, per the executive order from President Trump signed in March.

The National Association of State Boards of Accountancy (NASBA) has relaunched CPAMobility.org, a modernized, online resource that helps Certified Public Accountants determine where and how they can practice across state lines. Practice privilege, or CPA mobility, laws allow CPAs in good standing to serve clients in other state

The president’s campaign promise of no taxes on tips and no taxes on overtime pay was fulfilled with the signing of the tax law, H.R. 1, in July 2025. With only four months left in the year, employees who receive this additional compensation and employers who need to understand their requirements are starting to ask how this will be put into action.

The National Association of State Boards of Accountancy (NASBA) and the American Institute of CPAs (AICPA) today released for public comment an exposure draft of proposed changes to the Statement on Standards for Continuing Professional Education (CPE) Programs (Standards)

Even though the One Big Beautiful Bill Act made substantial changes in the Tax Code, one area where that may not be seen so much is in terms of simplification, according to a new study.

The IRS, which has lost about 25% of its workforce this year, is moving to fill some jobs by various means, including asking employees who accepted deferred resignations if they want to stay on the job.

Former Commissioner Danny Werfel wouldn’t predict failure for the IRS in its bid to modernize technology with less money and fewer experienced workers while preparing systems for massive changes in the new tax law. But, without seeing a plan, he said he’s dubious the agency will be successful.

The Internal Revenue Service today issued frequently asked questions (FAQs) in Fact Sheet 2025-05 relating to the modification of sections 25C, 25D, 25E, 30C, 30D, 45L, 45W, and 179D under the One, Big, Beautiful Bill Act (OBBB).

A federal appeals court has ruled unconstitutional a provision of a Maryland digital advertising tax law that prevents companies from displaying the tax charge on a bill.

U.S. tariff revenue reached a fresh monthly record in July, though the increase wasn't enough to prevent a widening in the monthly budget deficit — pointing to the federal government's continuing fiscal challenges.