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If you own a business with 5 or more employees and do not offer a qualified retirement savings plan, state law requires that you provide a retirement savings option. Initial registration deadlines have passed, but you can still take action by August 31, 2023. Employers can register with MyCTSavings at no cost to the business, or provide a private retirement plan to comply with the law. Learn more and register at https://myctsavings.com/employers/program-details.

In response to feedback submitted through the exposure draft, NASBA has announced that it will adopt an increased testing window of 30 months.

Legislative leaders are considering calling a special session after the November election

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 bill requires CPAs to keep work product and workpaper related to work for a client for at least seven years after creation unless the law requires a longer retention. Current law only specifies that CPAs must retain workpaper as required by law.

Taxation of CPA services was a hot topic in several state legislatures this year as states sought to fix expected revenue shortfalls.

State owes almost $8,000 for every man, woman and child.