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RP-2018-17: Requests by Certain Foreign Corporations for Changes in Annual Accounting Periods
Revenue Procedure 2018-17 modifies the circumstances under which the Internal Revenue Service grants approval of certain requests by certain foreign corporations for changes in annual accounting periods filed under Rev. Proc. 2002-39, 2002-22...
Connecticut Hunting Down Online Shoppers Who Didn't Pay Sales Tax
The state Department of Revenue Services is combing through customer records from major online retailers to hunt down taxpayers who skipped out on the often-ignored use tax.
FASB Improves Income Tax Accounting Related to the Tax Cuts and Jobs Act
The FASB has issued an Accounting Standards Update that helps organizations address certain stranded income tax effects in accumulated other comprehensive income (AOCI) resulting from the Tax Cuts and Jobs Act.
Organizations Mixed About Sharing Tax Benefits with Employees
Organizations are almost evenly split about whether or not they have or may increase pay and benefits for employees in reaction to the new tax reform law, according to a new survey from executive compensation consultancy Pearl Meyer.
FASB Q&As discuss financial reporting implications of tax law
FASB addressed financial reporting issues related to P.L. 115-97, the Tax Cuts and Jobs Act, in four staff Q&As posted to its website Monday.
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.
CT Post: State tax reform debate starting to take shape
As he delivered a bird’s-eye view of the Connecticut fiscal crisis this week, James Loree, the Stanley Black & Decker CEO, talked a lot about state tax reform. We’re all going to hear a lot more — and argue a lot more — about that topic in 2018,...
IRS Warns Employers of Form W-2 Scam
The Internal Revenue Service, state tax agencies and the tax industry today urged all employers to educate their payroll personnel about a Form W-2 phishing scam that made victims of hundreds of organizations and thousands of employees last year.
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...