News

The IRS has provided a limited waiver of the addition to tax under Sec. 6655 for a corporate taxpayer's failure to pay estimated income tax with respect to its Sec. 55 corporate alternative minimum tax (AMT) liability.

With finance named as one of the most stressful professions in the UK, Molly Macfarlane speaks to an accountant about their experience with stress and a wellbeing coach on stress management.

The Department of Revenue Services and Internal Revenue Service have issued additional guidance on the taxability of Connecticut's Hero payments.

For business leaders, prioritizing employee well-being isn't just a good thing to do; it's a good thing for the bottom line.

Finance leaders can ask themselves series of questions — on strategy, collaboration, processes, and extracting insights — to be empowered with technology.

Gov. Ned Lamont traveled to New Britain on Wednesday to announce nearly 100 nonprofit mental health service providers across the state will get more than $35 million in state funding.

If legislators want more funds in core programs, they must close holes as well, the Lamont administration said.

The 2024 filing season, which began with a hint of uncertainty, has progressed into one of the smoothest in recent memory — but the uncertainty still exists, fueled by court decisions and pending legislation.

Lisa Wills, CPA has been appointed to the Board of Trustees at Elms College. Lisa is an Elms College alum, graduating with a Bachelor of Arts degree in Accounting and Business Management.

The AICPA and over 50 state CPA societies have written to the Treasury secretary and the director of the Financial Crimes Enforcement Network (FinCEN) asking that enforcement of beneficial ownership information (BOI) reporting requirements be suspended until one year after court cases have been resolved.

Connecticut may soon require nearly all businesses to offer at least 40 hours of paid sick leave each year.

In a recent letter to the Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), the American Institute of CPAs (AICPA) and CTCPA, together with 54 state CPA societies, expressed serious concerns with the rollout and push to implement FinCEN’s Beneficial Ownership Information reporting requirement without regard for the impact to the small business community.

In a recent letter to the Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), the American Institute of CPAs (AICPA) and CTCPA, together with 54 state CPA societies, expressed serious concerns with the rollout and push to implement FinCEN’s Beneficial Ownership Information reporting requirement without regard for the impact to the small business community.

The U.S. Supreme Court will decide a case this term that presents a crucial question regarding the estate tax treatment of life insurance proceeds received by a closely held business and its shareholder redemption obligations. It focuses on closely held corporations' practice of entering into an agreement to redeem the stock of a deceased shareholder and funding the redemption with life insurance proceeds received by the company upon the shareholder's death.

Two CTCPA members were named to the Hartford Business Journal's 2024 'Top 25 Women in Business' list: Susan Martinelli and Kimberly Napp. '

Caba’s recent research reveals the ongoing challenges that women face in the workplace, such as difficulty setting boundaries, reluctance to take time off and feeling pressure to overperform. Caba suggests steps that organisations should take to make the accounting profession more inclusive.

Governor Ned Lamont today announced the launch of Connecticut’s latest tourism campaign for the spring and summer 2024 travel season. The campaign leans into the state’s new brand theme “Make It Here,” aligning the branding and tourism campaigns with this singular tagline and bringing synergy to efforts encouraging consumers to live, work, and play in Connecticut.

Finance leaders are still concerned about the expanded use of generative AI programs, such as ChatGPT and Microsoft Copilot, but more than a quarter of them say that hasn't stopped their organizations from experimenting with the technology, according to a new AICPA & CIMA survey.

When a client wants a meeting at their premises but that isn’t the way the accountant likes to work, who should have the final say?

The artificial intelligence (“AI”) solutions such as OpenAI’s ChatGPT continue to gain popularity. Many CPA firms seek to leverage the use of generative AI to accelerate innovation and increase productivity. As the use of any AI technology is very organization specific, CPA firms need to obtain a solid understanding of their needs and objectives and gain an understanding of how AI works before they can begin to identify what, if any, AI opportunities are the right fit for their firm.