News

The federal government will pay about 7,000 IRS probationary employees, who were laid off less than a month ago, not to work while lawsuits over layoffs wind their way through the court system, the agency said Tuesday in an email.

Many employees approaching the height of their careers still need multiple jobs to make ends meet, a new report indicates.

Clients worry about crazy things every tax season, but this year their fears and obsessions and just-plain-odd ideas seem to be taken to a new level.

Job seekers may get a little help determining which openings to apply to under a proposed bill that would require employers to disclose salary ranges for job openings upon request.

At the March State Board of Accountancy meeting, the issue of advertising attestation services and peer review enrollment was addressed. Previously, the Department of Consumer Protection (DCP) prohibited CPAs from advertising attestation work unless they were enrolled in the peer review program.

The AICPA's 2025 tax priorities include increasing the reporting threshold for Form 1099-K to $10,000 from the $600 that would go into effect next year, according to a letter Monday to congressional finance leaders.

Employee health care costs would push governor’s plan more than $100 million over the spending cap next fiscal year.

The Financial Accounting Standards Board (FASB) today announced that the U.S. Securities and Exchange Commission (SEC) has accepted the 2025 GAAP Financial Reporting Taxonomy (GRT), the 2025 SEC Reporting Taxonomy (SRT), and the 2025 GAAP Employee Benefit Plan Taxonomy (EBPT). The FASB also finalized the 2025 DQC Rules Taxonomy (DQCRT) and the 2025 GAAP Meta Model Relationships Taxonomy (MMT), which together with the GRT, the SRT, and the EBPT are collectively referred to as the “FASB Taxonomies.”

Between multiple waves of layoffs and legislative efforts to pull back more than $20 billion in funding, the gradual declawing of the Internal Revenue Service is well underway.

Five high-level strategic initiatives serve as the backbone of the AICPA Auditing Standards Board's (ASB's) proposed 2026–2030 strategic plan.

We’re delighted to see two CTCPA members honored on the Hartford Business Journal’s “2025 Women in Business” list: - Melissa L. Ferrucci – CohnReznick (Office Managing Partner, Connecticut Offices) - Susan DeRosa Jackson – KPMG LLP (Office Managing Partner, Hartford)

Form AP disclosures reveal exactly who has participated in the audits of public companies – and account for a large number of inspection deficiencies

The Private Company Council (PCC) has published its 2024 Annual Report to highlight the PCC’s accomplishments and activities.

Advocates say tax relief is needed more than ever as Washington shrinks programs.

At his session on day one of the Festival of Accounting & Bookkeeping, Richard Murphy reflected on how the profession has changed and how accountants need to move with the times.

The General Law Committee held a public hearing Wednesday to discuss various bills, including Senate Bill 3, “An Act Concerning Consumer Protection and Safety.”

A bipartisan group of lawmakers has reintroduced legislation to allow immediate expensing of research and development costs, all the way back to 2022 when the tax break expired.

However, larger companies with over $500 million in annual revenue are significantly more likely, according to McKinsey’s latest report.

Gen Y employees typically see greater advantages in working in the office rather than at home, compared with their Gen Z colleagues.

If you have a refund check coming your way, consider using it to bolster your personal balance sheet.