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Articles

IRS Working on a New Form 1040 for 2019 Tax Season
The Internal Revenue Service plans to streamline the Form 1040 into a shorter, simpler form for the 2019 tax season.
Connecticut Labor Hopes To Blunt Janus
It was not unexpected, but the U.S. Supreme Court’s 5-4 decision in Janus v. AFSCME found government unions can’t force non-members to pay “agency fees” and it’s being framed by those who support the ruling as a blow to public sector unions. But public sector unions in Connecticut have been preparing for the decision by making their case to their employees to join the union and blunt any deleterious impact.
National Taxpayer Advocate identifies priority areas in mid year report to Congress; focuses on customer service
National Taxpayer Advocate Nina E. Olson today released her statutorily mandated mid-year report to Congress that presents a review of the 2018 filing season, identifies the priority issues the Taxpayer Advocate Service (TAS) will address during the upcoming fiscal year and contains the IRS’s responses to each of the 100 administrative recommendations the Advocate made in her 2017 Annual Report to Congress.
Supreme Court Delivers a Sharp Blow to Labor Unions
The Supreme Court on Wednesday dealt a major blow to organized labor. By a 5-to-4 vote, with the more conservative justices in the majority, the court ruled that government workers who choose not to join unions may not be required to help pay for collective bargaining.
Supreme Court's Internet Sales Tax Ruling Is Billion-Dollar Boon for States
The U.S. Supreme Court says states are allowed to collect sales taxes from online retailers that don’t have a have a physical presence in their borders. By a 5-4 vote in the case South Dakota v. Wayfair, the majority overturned the court's 1992 decision in Quill v. North Dakota, which had affirmed the “physical presence” test for state sales-and-use tax collections.
Ruling enables CT to capture millions in taxes from online sales
The U.S. Supreme Court's decision Thursday opening the door for states to capture sales tax receipts for online and other remote transactions could help Connecticut capture more than $100 million annually in new revenues.
View Louis Bucari's 'Hot Topics with the DRS' Slides
Connecticut Department of Revenue Services Legal Counsel Louis Bucari talked "Hot Topics with the DRS" to a packed house at the June 21 Easton CONNection - and was gracious enough to allow us to share his slides with our members. Louis addressed a number of the current (and future) concerns relating to Public Act 18-49. View the materials.
Need for IRS Guidance on New Pass-Through Deduction A Top Member Concern
When will the Internal Revenue Service (IRS) issue guidance on new Internal Revenue Code section 199A? That’s the number one question on CPAs’ minds related to the Tax Cuts and Jobs Act.
How the New Tax Law Affects Private Equity and VC Firms
Six months after the Tax Cuts and Jobs Act (TCJA) was enacted, businesses are still trying to decipher its nuances and impact on their specific industries. The private equity sector in particular will be greatly affected, with immediate effects already underway. It is imperative that private equity and venture capital firms understand how these changes will impact their funds, portfolio company investments, investors and management team. In this piece, we will explore the most important...
HUD’s Carson commits to helping residents with crumbling foundations
On an early morning last winter, Maggie and Vincent Perracchio thought someone dropped something when they heard a loud bang in their house. The noise was actually a reverberation of a new vertical crack in a wall of their basement—one that had exposed the outdoors. The couple has heard several of those bangs over the last three years as their Willington home collapses in slow motion. They are among thousands of residents around central and northeastern Connecticut coping with crumbling...

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