News

Governor Ned Lamont announced that he is encouraging businesses, nonprofits, and municipalities in Connecticut that have been impacted by recent actions from the federal government to report that information to the state so that it can be compiled into a central database and provide state policymakers with a better understanding of how these directives are affecting various groups, geographical regions, and sectors of the economy.

Members of the House of Representative’s Tax Equity Caucus and advocates called on the Connecticut General Assembly and the governor on Tuesday morning to support what they called “economic populism” in the form of tax relief for middle class and working class people.

The American Institute of CPAs (AICPA) is signaling its strong support for bipartisan legislation to establish the accounting profession as a career pathway through Science, Technology, Engineering and Math (STEM). H.R. 2911, the Accounting STEM Pursuit Act, introduced by Representatives Young Kim (R-CA) and Haley Stevens (D-MI), would allow K-12 grant funding to be used for accounting education, with a focus on improving access for underrepresented students. This will help ensure future leaders are highly skilled and prepared to meet the public's evolving needs.

A bipartisan House of Representatives bill that would add accounting to the STEM education program has strong support from the AICPA.

Employee stock ownership plans (ESOPs) have gained popularity among accounting firms in response to some of the profession’s biggest trends — the influx of private equity (PE), the struggle to recruit and retain staff, and the need to fund partner retirements.

A proposed tax on sweetened beverages returned to the Connecticut legislature on Monday, reviving a years-long debate over the balance between public health policy, small business burdens, and the goal providing free school meals to all students.

A small business advocacy organization that sued over beneficial ownership information (BOI) reporting requirements asked the federal government to destroy BOI reports filed before the government dropped the requirement for domestic entities.

A small business advocacy organization that sued over beneficial ownership information (BOI) reporting requirements asked the federal government to destroy BOI reports filed before the government dropped the requirement for domestic entities.

Warning of a potential recession and “flurry” of layoffs, Connecticut’s state Senate leadership are looking for the state Department of Labor to take a proactive approach to a potential surge in unemployment.

The Board of Trustees of the Financial Accounting Foundation (FAF) today announced the Appointments Committee is seeking nominations for new members of the Private Company Council (PCC). New member terms will be for three years beginning January 1, 2026, and ending on December 31, 2028, with the possibility of reappointment to an additional three-year term.

In the final days of tax season, tax professionals have been grinding through their clients' tax returns while trying to reassure them in the midst of reports of layoffs and budget cuts at the Internal Revenue Service and the uncertain path of tax cuts legislation in Congress.

Whether you’re a digital nomad or someone who’s worked outside your home state for just one day, you might be aware that states can tax income that out-of-state workers earn within their borders.

The newest quiet labor trend is slowly eroding workplace productivity and is likely going unnoticed by many companies until it’s too late.

Middletown saw its grand list shrink ‘for the first time in recent memory’ because of the car tax valuation changes.

As part of its reduction-in-force (RIF) plan, the IRS on Tuesday said it was offering three voluntary separation programs, including an early retirement program available to workers with the most seniority.

Bend guardrails, use rainy day fund or both to deal with federal cuts and a shaky economy? The debate is on.

Use these tips to help guide communication toward successful renewals.

Internal Revenue Service employees are being offered a last opportunity to accept a voluntary buyout offer as the Supreme Court blocked a ruling requiring the Treasury Department and other federal agencies to rehire thousands of fired probationary employees. The acting commissioner of the IRS is reportedly among those who plan to accept the buyout offer after she was bypassed on an agreement to share confidential taxpayer data with the Department of Homeland Security's Immigration and Customs Enforcement unit.

The pandemic-era employee retention credit (ERC) officially ends April 15, but its legacy will live on in delayed payments to the businesses it was designed to help, fraudulent activity related to its claims, and confusion not only for taxpayers and tax professionals but also for the IRS.

Connecticut's accounting profession was well-represented in the Hartford Business Journal's "2025 Power 50," with three CTCPA members making the list: Drew Andrews (Managing Partner and CEO of Whittlesey P.C.), Susan Jackson (Office Managing Partner of KPMG LLP in Hartford), and Melissa Ferrucci (Office Managing Partner of CohnReznick’s Connecticut offices). The “Power 50,” Connecticut’s most influential leaders, was chosen by the Hartford Business Journal’s news team.