News

The IRS will provide penalty relief to about 1 million taxpayers automatically starting next year, the national taxpayer advocate (NTA) said during a session at the AICPA National Tax Conference.

An AICPA letter in response to a Treasury and IRS call for recommendations related to the “all or nothing” approach to dual consolidated losses (DCLs) asked Treasury and the IRS to consider allowing an exception so companies aren’t unnecessarily penalized.

With New York, at least 24 states have eased education requirements needed to become a certified public accountant in a bid to address a talent shortage.

The Department of the Treasury and the Internal Revenue Service today issued guidance for workers eligible to claim the deduction for tips and for overtime compensation for tax year 2025.

(Rocky Hill, CT) – The Connecticut Society of CPAs (CTCPA) will honor 15 outstanding women at the CTCPA Women’s Awards event on Tuesday, January 20, 2026 from 7:30 to 10:30 a.m. at the TPC River Highlands. Awardees will be honored in three categories: Experienced Leaders, Emerging Leaders, and Aspiring CPAs. This is the seventh year the CTCPA has honored outstanding females in the profession.

The longtime CTCPA member had received numerous awards over his 6 decades in accounting technology, was the 3rd inductee in CPA Practice Advisor's Accounting Hall of Fame, and named multiple times to Accounting Today‘s Top 100 Influential People in Accounting.

Sustainable AI transformation means knowing when to pause, not just accelerate.

The IRS just came out of the longest government shutdown, but the deal that ended the stalemate funds the agency only through Jan. 30, just as filing season is about to begin. And that’s a concern for taxpayers and tax practitioners, two former IRS commissioners told reporters Tuesday at the 2025 AICPA National Tax Conference.

They say politics makes strange bedfellows, but what would it take to bring together Sen. Richard Blumenthal of Connecticut and Senate Republican Josh Hawley of Missouri? AI chatbots, it seems.

Erin Stewart is kicking off her campaign for governor of Connecticut with an on-brand, slightly cheeky video emphasizing her blue-collar roots, her success as a Republican mayor of a Democratic city and an intention to run a “different” campaign.

Governor Ned Lamont and Connecticut Transportation Commissioner Garrett Eucalitto today announced the State of Connecticut is awarding nearly $12 million in grants to 17 towns and cities for projects that will improve transportation safety and mobility.

Gene Turley, CPA, MS, of CPA Consulting Services in Manchester, joined Marie Kulesza, Professor and Accounting Department Chair at Central Connecticut State University, and Tara Vakil, Assistant Professor of Accounting at the University of Connecticut, for a career exploration panel at Manchester High School.

The House and Senate approved a wide-ranging housing bill last week to replace a similar bill that Gov. Ned Lamont vetoed after the regular session.

The state Senate didn’t match the state House’s marathon 7-hour debate on a revised housing bill Thursday, but it came pretty close.

Gov. Ned Lamont says he’s not done. In officially announcing his bid for a third term (he confirmed his intention to do so last week) Lamont said Connecticut had made remarkable progress, but there was more to do to make sure everyone was sharing in it.

With just a few weeks left in 2025, the American Institute of CPAs (AICPA) advises taxpayers to take action and make year-end tax and financial planning moves that can help prepare them for 2026, especially at tax time. Planning is even more important this year, ahead of the adoption of tax law changes effective this year and next.

The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025.

A quarter of holiday shoppers/travelers usually make a budget for holiday spending but admit they probably won’t stick to it.

The fallout of the 43-day-long government shutdown will linger for some time in Connecticut, even after all federal workers returned to work on Thursday.

Lawmakers pass bill to empower UConn Health to purchase Waterbury Hospital.