News

Governor Ned Lamont issued the following statement in response to today’s release of a report containing finalized year-end data from the U.S. Bureau of Labor Statistics on jobs and employment levels in Connecticut for 2023.

Dubbed “The Green Monster” by opponents, the Environment Committee began collecting public input Friday on an omnibus bill that includes 22 multi-faceted initiatives aimed at tackling the root causes and ramifications of climate change across various sectors.

As winter fades into the spring, optimism is on the rise — 43% of finance executives share a sunnier outlook on the U.S. economy, according to the latest quarterly survey released by AICPA & CIMA.

The Department of Labor has announced a six-factor test for determining whether a worker is an independent contractor or an employee under the Fair Labor Standards Act. This new rule takes effect on March 11, 2024.

The SEC on Wednesday adopted a long-awaited rule for climate-related disclosures.

On March 1, 2024, Judge Liles Burke of the U.S. District Court in Huntsville, Alabama, held that the Corporate Transparency Act — and the beneficial ownership information reporting mandate it includes — is unconstitutional, because it exceeds the powers granted to Congress by the Constitution.

The Financial Crimes Enforcement Network (FinCEN) should pause all enforcement of the Corporate Transparency Act (CTA), P.L. 116-283, and its required beneficial ownership information (BOI) reporting until a legal challenge works its way through the courts, plaintiffs who won the first round of the case said Tuesday.

Mistakes continued to pile up this earnings season in the wake of Lyft Inc.'s market-roiling typo: Planet Fitness Inc., Mister Car Wash Inc. and Rivian Automotive Inc. all had to correct their quarterly earnings statements. These types of errors shake investor confidence and in extreme cases can result in heavy fines from the Securities and Exchange Commission.

The Connecticut General Assembly’s General Law Committee held a wide ranging public hearing on Thursday to explore the potential impacts, both good and bad, of artificial intelligence on a host of issues of interest to the state.

Over 125,000 high-income people who have not filed federal tax returns since 2017 will be mailed letters advising that they must file returns or explain why they don't need to file a return, the IRS said Thursday.

Connecticut needs a more equitable tax code and to depend less on property taxes, state lawmakers said at a news conference Wednesday morning at the Legislative Office Building.

To err is human. To seek help is superhuman. Gartner recently asked controllers about how often they or their peers make financial errors, as well as their thoughts on causes. Though survey respondents weren't asked about the significance of the errors cited, 59% acknowledged "several errors per month."

A state task force on artificial intelligence believes the use of AI in both government and the private sector merits exploration while regulatory measures should be in place to protect consumers from harm.

Based on comments from withholding agents about difficulties in transitioning to the electronic filing of Form 1042, Annual Withholding Tax Return for U.S. Source Income of Foreign Persons, the IRS said Tuesday that it is delaying the e-filing requirement.

The Internal Revenue Service reminds taxpayers that an electronically filed tax return will be rejected if the taxpayer is required to reconcile advance payments of the premium tax credit (APTC) on Form 8962, Premium Tax Credit (PTC), but does not complete the form in the software and submit it with their tax return.

Connecticut’s nonprofit community service providers urged lawmakers Monday to find an additional $186 million to fund their work next year or risk some agencies shutting down, as well as higher downstream costs for things like untreated addiction, hunger, homelessness, or an inability to get healthcare.

Executive leaders are just like everyone else — aiming to stay current with today's ever-changing workplace.

Poor households still face effective state and municipal tax rate of 32%.

A SoFi survey indicates stress over personal finances may affect employee productivity, and HR may be underestimating the consequences.

Policymakers and advocates disagree on what, if anything, the Connecticut legislature should do after data from the U.S. Census showed child poverty doubled nationwide. But at least two organizations are making an argument with data to back their push for a state-level child tax credit to address the issue.