Capitol Corner

Capitol Corner

We've got our eye on happenings at the Capitol! If state or federal legislation or accounting standards activity will affect you, your company, or your clients, we'll keep you updated here.


Want to learn more on a specific bill? Track it here.  
Find your legislators in our Advocacy Action Center.
  Keep your eye on Connecticut's local elections: CT News Junkie Voter Guide 

State News

Accounting Standards

FASB: Small Business Advisory Committee Meeting Recap
The Small Business Advisory Committee (SBAC) met on November 30, 2017.
FASB Makes Decisions on Leasing Standard Simplification
The Financial Accounting Standards Board (FASB) today made decisions to reduce costs and ease the implementation burden of the Leases standard for preparers.

 

Federal News

Trump Tracker! Surgent's Trump Tracker, inspired by The New York Times, tracks the status of all changes proposed by President Trump that could affect CPAs and their clients in a user-friendly format that makes it clear where a change currently stands.

National Taxpayer Advocate Says IRS is in Dire Straits, Needs More Funding
National Taxpayer Advocate Nina Olson makes clear in her 2017 Annual Report to Congress that the underfunded IRS is in dire straits — and faces even worse as the agency grapples with implementing the recently enacted tax law.
Federal government shuts down, CT to feel aftershock
Connecticut residents will still get their mail and Social Security checks, but the shutdown of the federal government will reverberate through state agencies – especially those that are most reliant on federal grants and federal workers — and many in the state would eventually feel an impact.
Pressing question for CT: A state tax break for private school tuition?
The federal tax overhaul may have triggered an automatic state tax break that would allow parents to avoid paying state taxes on some of the money they put aside to send their children to private K-12 schools.
CTCPA Members Ed Kindelan and Patrick Duffany Represent CTCPA at Tax Reform Town Hall Meeting
CTCPA members Ed Kindelan and Patrick Duffany of CohnReznizk represented the CTCPA at a town hall meeting on the new federal tax law hosted by Rep. Elizabeth Esty (D-5th) at the Farmington Library on Saturday, January 13. The panel discussion also included Gene Fercodini (CT Realtors Association past president) and Bette Marafino (Alliance for Retired Americans). The event was standing room only with well over 100 people present. View more photos.
CTCPA Member Brian Newman of CohnReznick Wrote "How Federal Tax Reform Will Impact Your Business" for the Hartford Business Journal
On Dec. 22, President Trump signed into law the Tax Cuts and Jobs Act (the Act), which makes significant changes to the tax law pertaining to both businesses and individuals.

More >