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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.
NASBA: Sessions Changes Course on DOJ Marijuana Enforcement Policy
On January 1, 2018, recreational marijuana became legal in California. A few days later, on January 4, U.S. Attorney Gen. Jeff Sessions rescinded multiple memos that have guided the U.S. Department of Justice’s (DOJ) approach to marijuana enforcement since 2013.
CTCPA Executive Director Bonnie Stewart Quoted in New London Day: Now that it’s 2018, here’s what you need to know about the new federal tax bill
In Connecticut, where 41 percent of taxpayers file itemized returns, accountants are being flooded with questions about the change to state and local deduction under the new federal tax law.
How tax overhaul would change business taxes
The tax reform bill that Congress is expected to vote on this week contains numerous changes that will affect businesses large and small. The Tax Cuts and Jobs Act, H.R. 1, would make sweeping modifications to the Internal Revenue Code, including a much lower corporate tax rate, changes to credits and deductions, and a move to a territorial system for corporations that have overseas earnings.
What the tax reform bill means for individuals
The Tax Cuts and Jobs Act, H.R. 1, agreed to by a congressional conference committee on Friday and expected to be voted on by both houses of Congress during the week of Dec. 18, contains a large number of provisions that would affect individual taxpayers.
CT Mirror: Federal tax changes could create misleading budget 'bubble' in CT
Most Americans wouldn't feel the effects of proposed federal tax changes until the spring of 2019. But it could throw a big wrench into Connecticut's state budget right in the coming weeks.

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