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Articles

The government has shut down, but tax season doesn’t stop
The IRS has confirmed release that filing season will start on time – January 28 - and that it will be issuing refunds.
AICPA Asks for Estimated Tax Penalty Relief
A powerful ally of taxpayers, the American Institute of CPAs (AICPA) has formally asked the IRS to grant relief from certain estimated tax penalties triggered by the Tax Cuts and Jobs Act (TCJA). Generally, individual taxpayers must pay...
Dan Haar: Tax collection declines cost state $3 billion a year in Malloy era
Connecticut coffers would have been at least $3 billion fatter per year if the growth rate of tax collection in the Malloy era had matched the early to mid-2000’s, and that means state budget shortfalls would not exist at all. That new...
IRS Confirms Tax Filing Season to Begin January 28
Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are committed to ensuring that taxpayers receive...
Lamont to keep 9 of Malloy's agency commissioners
The Democrat says he plans to re-nominate commissioners of the Departments of Mental Health and Addiction Services, Revenue Services, Banking, Rehabilitative Services, Veterans Affairs, Developmental Services, Consumer Protection and Labor.
CTCPA President-elect Dennis Cole Appears on WTIC to Discuss LLC Scam and More
CTCPA President-elect Dennis Cole, a partner with Beers, Hamerman, Cohen & Burger, PC in New Haven, appeared on  Mornings with Ray Dunaway on WTIC NewsTalk 1080 to discuss the current Connecticut LLC scam as well as tax planning and more.  Listen...
Secretary of the State, Attorney General Warn Connecticut Businesses about “Official” Reporting Scam
Secretary of the State Denise Merrill and Attorney General George Jepsen are warning businesses across Connecticut about a mailing being sent by “Workplace Compliance Services” purporting to be an official “Annual Report...
IRS issues guidance on Section 179 expenses and Section 168(g) depreciation under Tax Cuts and Jobs Act
The Internal Revenue Service issued Revenue Procedure 2019-08 today to provide guidance on deducting expenses under Section 179(a) and on deducting depreciation under Section 168(g). These rules, as amended by the Tax Cuts and Jobs Act (TCJA) in...
Three 1031 Related Party Rules CPAs Can Offer Guidance On
In an earlier post, we discussed some of the major issues involved when tax professionals counsel partnerships in 1031 exchanges. As we saw, this can be a very delicate matter. Partnerships must handle their exchanges properly or else face...
Nonprofit employee parking is taxable under the TCJA
Under the Tax Cuts and Jobs Act, the parking benefits that churches, synagogues, hospitals, colleges and other nonprofits offer their employees are now taxable. That’s causing headaches for nonprofit administrators trying to figure out...

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