News

As artificial intelligence quietly transforms the accounting industry, we look at how it has evolved and the changes it has brought to everyday tasks, with this feature forming part of our special editorial report on the subject, in association with Sage.

The IRS provided interim guidance to employers that provide matching retirement plan contributions based on student loan payments, a new benefit courtesy of a 2022 law.

Changes address general responsibilities of an auditor conducting an audit as well as technology-assisted analysis and contributory liability rule for associated persons.

The Connecticut state government has a number of wallets, some more loaded than others and some reserved for unique needs.

A coalition representing the Internal Revenue Service, state tax agencies and the spectrum of the nation’s tax industry today announced a new joint effort to combat the growth of scams and schemes threatening taxpayers and tax systems.

The IRS will reopen its voluntary disclosure program (VDP), allowing businesses to correct questionable employee retention credit (ERC) claims at a discount (Announcement 2024-30).

Marcum's National Matrimonial and Business Valuation Industry Leader Kenneth J. Pia, Jr. coauthored three chapters in "The Third Edition of Shannon Pratt’s The Lawyer’s Business Valuation Handbook: Understanding Financial Statements, Appraisal Reports, and Expert Testimony," which is being released in August 2024. Ken was also a technical reviewer of the handbook and an active member of the publishing committee.

Under economic pressure, local governments across the country are raising sales tax rates or introducing new taxes.

C-suite leaders in a global survey say generative AI has influenced their business models, improved customer relationships, and cut business costs.

An AICPA letter supported by every state CPA society and numerous other accounting stakeholders asks the Department of Homeland Security (DHS) to add accounting to the department's STEM Designated Degree Program List.

The most recent draft of the form that brokers will use to report certain 2025 transactions involving the sale or exchange of digital assets reflects the final regulations (T.D. 10000) for custodial broker reporting that the IRS released in June.

A 58-year-old client came to financial planner Michael Kitces' office seeking a plan that would allow him to retire at age 65 with $1 million.

Sacred Heart University accounting professors Paul N. Iannone, Benoit Boyer, and Danny A. Pannese released “Tri-State Accounting Student Insights: A 2023 Regional Survey of Accounting Students on the CPA Exam and the Public Accounting Profession.”

GOP says Democratic legislators and Gov. Lamont could have fixed problem back in May.

As Treasury's Financial Crimes Enforcement Network (FinCEN) continues to try to get the word out to affected small businesses and other stakeholders about the new beneficial ownership information (BOI) reporting requirements, it announced that it has launched a video public service announcement (PSA) campaign. The PSA focuses on friends discussing the BOI requirements in a coffee shop.

Half of surveyed organizations don’t know how often they’re hit by fraudulent payment schemes or what the cost is.

The Internal Revenue Service has posted an early draft of the updated Form 1099-DA, the form for brokers to report certain sale and exchange transactions of digital assets that take place beginning in 2025.

Governor Ned Lamont and U.S. Secretary of the Treasury Janet L. Yellen today announced that, beginning in the 2025 filing season, Connecticut will join IRS Direct File – a newly launched option to file federal tax returns online that is provided to users at no cost, empowering residents to file with ease and without having to pay the fees associated with for-profit tax software companies.

“We are thrilled to announce the advancement of Josh and Beth to partnership in our firm,” said Todd Shelansky, CPA, managing partner of HarperWhitfield, P.C. “Their expertise, dedication, and leadership has been instrumental in providing exceptional service to our clients. We are confident that their continued contributions will drive our success and growth even further,” he added.

The IRS will start processing some employee retention credit (ERC) claims that have been subject to its claim processing moratorium, it announced on Thursday. The Service also said it has recently sent out 28,000 disallowance letters to businesses and plans to begin paying 50,000 valid claims for the pandemic-era credit.