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Articles

“Phase Two” of Federal Tax Reform in the Works?
Recent comments made to Fox News by President Donald Trump suggest that the corporate tax rate may decrease further still...
IRS Working on a New Form 1040 for 2019 Tax Season
The Internal Revenue Service plans to streamline the Form 1040 into a shorter, simpler form for the 2019 tax season.
National Taxpayer Advocate identifies priority areas in mid year report to Congress; focuses on customer service
National Taxpayer Advocate Nina E. Olson today released her statutorily mandated mid-year report to Congress that presents a review of the 2018 filing season, identifies the priority issues the Taxpayer Advocate Service (TAS) will address during...
Form 1040 to be shorter but with more schedules
The IRS is working on a draft version of the 2018 Form 1040, U.S. Individual Income Tax Return, that reduces the size of the form to two half-pages in length and eliminates more than 50 lines, compared to the 2017 version of the form. The draft...
Lawmakers To Reconsider Some of Malloy’s Seven Vetoes
Those under consideration include SB 261, which would have extended the manufacturing apprenticeship tax credit to the personal income tax.
Supreme Court's Internet Sales Tax Ruling Is Billion-Dollar Boon for States
The U.S. Supreme Court says states are allowed to collect sales taxes from online retailers that don’t have a have a physical presence in their borders. By a 5-4 vote in the case South Dakota v. Wayfair, the majority overturned the court's 1992...
Ruling enables CT to capture millions in taxes from online sales
The U.S. Supreme Court's decision Thursday opening the door for states to capture sales tax receipts for online and other remote transactions could help Connecticut capture more than $100 million annually in new revenues.
View Louis Bucari's 'Hot Topics with the DRS' Slides
Connecticut Department of Revenue Services Legal Counsel Louis Bucari talked "Hot Topics with the DRS" to a packed house at the June 21 Easton CONNection - and was gracious enough to allow us to share his slides with our members. Louis addressed...
Republicans Continue Campaign Against Connecticut's 'Death Tax'
The only two things certain in life are death and taxes, but the 2018 governor’s race has combined the issues into a battle over death taxes. With the primaries less than two months away, virtually all Republican candidates are calling for...
DRS Issues Guidance Regarding the Calculation of the Pass-Through Entity Tax
The Department of Revenue Services (DRS) recently issued Guidance Regarding the Calculation of the Pass-Through Entity Tax , the result of new federal (Tax Cuts and Jobs Act of 2017) and state (Public Act 18-49) legislation. At the suggestion...

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