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Articles

A rainy day fund beckons, but Lamont insists on fiscal reforms
Connecticut’s swelling budget reserves are a temptation for lawmakers weary of the austere budgets that have cut municipal aid, social services and education in recent years
401(k) Hardship Withdrawals, Account Transfers Might Get Easier
Proposed changes would free up funds for emergencies, but could hurt workers’ savings.
Surging tax receipts dramatically shrink hole in next CT budget
State tax revenue projections surged again Tuesday, shrinking the projected shortfall in the upcoming two-year budget — and leaving Connecticut with nearly $2.1 billion in reserves to combat the deficit. Gov. Dannel P. Malloy’s budget staff...
IRS Increases 401(k) and IRA Limits for 2019
The IRS has just announced the inflation-indexed adjustments for qualified retirement plans, such as 401(k) plans, and IRAs for 2019 (Notice 2018-83, 11/1/18). As opposed to recent years, in which annual changes were generally nonexistent or...
New DRS Website Launched Nov. 1
The Connecticut Department of Revenue Services (DRS) is excited to announce the launch of a new, mobile-enabled (portal.ct.gov/drs) website. The new site is designed to better meet the needs of our taxpayers, preparers and business owners.
Tax preparer due diligence rules are finalized
The IRS on Tuesday finalized proposed regulations under Sec. 6695(g) imposing a penalty on tax return preparers who do not follow certain due-diligence requirements when preparing to file returns for taxpayers who are claiming head-of-household...
Get Ready for Taxes: Here’s how the new tax law revised family tax credits
More families will be able to get more money under the newly-revised Child Tax Credit, according to the Internal Revenue Service. This is the third in a series of reminders to help taxpayers get ready for the upcoming tax filing season....
Do You Have the Skills to Benefit From the TCJA?
The Tax Cuts and Jobs Act (TCJA) may represent the biggest current growth opportunity for your firm, but it’s going to take some hard work on your part to reap the rewards. Notably, you’re going to have to educate yourself about the new law,...
Get Ready for Taxes: Learn how the new tax law affects tax returns next year
The Internal Revenue Service today advised taxpayers about steps they can take now to ensure smooth processing of their 2018 tax return and avoid surprises when they file next year. This is the first in a series of reminders to help taxpayers...
Federal tax law brings numerous changes for commercial property owners

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