Latest News and Updates

Gov. Lamont moves up ‘phase 2’ reopening in Connecticut, says indoor restaurants, gyms, movie theaters can open June 17
Gov. Ned Lamont said Friday he was moving up the date to June 17 to allow the re-opening of restaurants, movie theaters and gyms because the coronavirus has become more contained in Connecticut. Originally Lamont’s reopening strategy...
Strategic implications of COVID-19 and its aftermath
In the long term, the effects of the coronavirus pandemic on business remain unclear. In the short term, company leaders are focused on ensuring the safety of employees and customers, maintaining financial sustainability, and plotting a path to...
IRS provides relief to retirement plan participants to sign elections remotely
The Internal Revenue Service today provided temporary administrative relief to help certain retirement plan participants or beneficiaries who need to make participant elections by allowing flexibility for remote signatures. The change relates...
FASB defers revenue recognition and leases standards for private companies and nonprofits due to coronavirus
The Financial Accounting Standards Board released an accounting standards update providing a one-year effective date delay for private companies and organizations to apply the revenue recognition and leases standards, due to the COVID-19...
COVID-19 and the new business imperatives for CPA firms
Highs, lows, curveballs and surprises are routine for every business, including accounting firms. Pandemics, however, are not routine (thankfully!). This crisis tests and provokes us all to the extreme. Business for CPA firms is usually tied...
How the CARES Act has affected business valuation
The coronavirus pandemic and the legislation designed to help employers during the crisis have added new challenges for professionals who perform business valuations. To help CPAs and other valuation experts meet those challenges, the AICPA on...
As barbershops, hair salons, casinos open, $619.9 million state deficit projected due to COVID-19
Hair salons, barbershops and casinos reopened in Connecticut Monday, after being closed for more than two months due to COVID-19 restrictions and precautions. Along with the good news of these reopenings, there were grim new projections Monday...
New analysis: pandemic unemployment hit minorities, young workers hardest
The coronavirus-induced recession has hit Connecticut’s racial minorities and workers in their 20s and 30s the hardest, according to an analysis last week of more than 343,000 state unemployment claims. The analysis, conducted by the nonprofit...
What You Need to Know About the SBA PPP Loan Forgiveness Application
For those of us that are familiar with filling out government forms, overall, the 11-page PPP Loan Forgiveness Application, SBA Form 3508 (05/20) is not too bad. The 11 pages consist of a mix of instructions, worksheets and application, not as...
McConnell seeks fast track to ease PPP rules for small business
Senate Majority Leader Mitch McConnell will attempt to expedite approval of changes to the popular Paycheck Protection Program aimed at giving small businesses more flexibility in using the money from the fund, according to Senate...

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Resources from Governmental Agencies and Health Organizations

Stimulus package by the numbers

Economic impact payments: What you need to know

Guidance and Updates on Connecticut's Coronavirus Preparedness Efforts

Centers for Disease Control and Prevention: 
Interim Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease 2019

World Health Organization:
Coronavirus Disease (COVID-19) Outbreak Information

United States Department of Labor Information for Workers and Employers

AICPA Coronavirus Resource Hub