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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 estimated tax through withholding or quarterly installment payments or both. Failing to do so may result in an underpayment penalty.
Federal Shutdown Continues With No End in Sight
Congress made no progress Wednesday in ending a partial government shutdown — now more than two weeks old — that has left some 800,000 federal workers without paychecks and raised concerns over the impact it is having on government programs from small business assistance to air traffic controllers.
As shutdown continues, government contractors feeling the pinch
Catholic Charities helps dozens of federal prisoners return to society through programs the organization runs in Waterbury and Hartford that provide counseling and behavioral health care to former inmates and their families. But, because of the federal government shutdown, the organization is no longer getting paid for its services. Catholic Charities in Hartford is one of scores of Connecticut companies, non-profits and local governments that have contracts with one of the nine...
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 their refunds notwithstanding the government shutdown. I appreciate the hard work of the employees and their commitment to the taxpayers during this period,” said IRS Commissioner Chuck Rettig. Congress directed the payment of all tax refunds...
End to federal shutdown elusive, impact will grow in CT
Terence Ward has worked for the U.S. Justice Department for 28 years and plans to continue to do so, but after next Friday, he and all 22 employees of the federal public defender’s office in Connecticut will work without pay if the government shutdown continues. As the lead attorney for the Office of Federal Public Defender in Hartford, Ward is considered an ”essential employee” of the justice department, one of the federal agencies affected by the partial shutdown. The other attorneys...
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 complicated new rules that can require them to calculate everything from snow removal costs to what percent of spaces are used by employees. It will likely all end up with pastors losing their reserved spots and competing with the congregation for parking...
Few N.Y. Businesses Sign Up for State Program to Bypass Trump Tax Limits
New York Gov. Andrew Cuomo said a program enacted in April would help protect employees from new federal limits on the deductibility of state and local taxes. A state official said 220 businesses had opted into the plan as of Friday, a figure representing less than 0.1% of the state’s employers and an unknown number of employees.
CVS completes historic $69B Aetna acquisition
Aetna, Hartford's 165-year-old health insurer, is no longer an independent company. CVS Health on Wednesday, as expected, completed its historic, industry-shifting $69 billion acquisition of Aetna, the Rhode Island pharmacy giant announced Wednesday.
401(k) Hardship Withdrawals, Account Transfers Might Get Easier
Proposed changes would free up funds for emergencies, but could hurt workers’ savings.

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