News
CFOs must balance boomers’ demand for flexibility with millennial and Gen Z’s AI use
September 03, 2025
Flexibility is driving loyalty for older workers as younger peers adopt AI, a shift CFOs must navigate across pay, policy and technology.
Governor Lamont Announces Connecticut’s Minimum Wage Will Increase to $16.94 on January 1, 2026
September 03, 2025
Governor Ned Lamont today announced that beginning on January 1, 2026, Connecticut’s minimum wage will increase from the current rate of $16.35 per hour to $16.94 per hour.
New: Digital assets practice aid addresses auditing of lending, borrowing
September 03, 2025
The AICPA updated its digital assets practice aid to assist practitioners with scenarios involving crypto lending and borrowing.
Employees take AI usage into their own hands
September 02, 2025
Most workers are using tools not provided by their employers, and few see any type of internal oversight.
Treasury leaks jobs qualifying for no taxes on tips
September 02, 2025
The Treasury Department's list of 68 jobs that are eligible for tax exemptions on tips has leaked to the media and includes occupations ranging from bartenders and food servers to entertainers, performers and digital content creators.
Calming nervous clients nearing retirement
September 01, 2025
Experts in personal financial services recommend helping clients keep economic shocks in perspective, simplify their finances, and try out aspects of retirement life.
Draft 2026 Form W-2 includes boxes and codes for tips and overtime
August 28, 2025
A draft version of Form W-2, Wage and Tax Statement, for 2026 includes boxes and codes for reporting qualified tips and qualified overtime compensation that can be deducted temporarily under the provisions of H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act.
PCAOB Postpones Effective Date of QC 1000 and Related Standards, Rules, and Forms
August 28, 2025
The Public Company Accounting Oversight Board (PCAOB) announced that it is postponing for one year, to December 15, 2026, the effective date for QC 1000, A Firm’s System of Quality Control, and other new and amended PCAOB standards, rules, and forms adopted by the Board on May 13, 2024. The Board’s action also postpones the related rescission date of certain rules and standards that are currently in force.
Out of office: Employers’ push for more office time meets resistance
August 27, 2025
While a flexible work schedule continues to be the norm, companies across the board have been requiring more days in the office with each passing month.
Tax complexity still costly despite OBBBA changes
August 27, 2025
Even though the One Big Beautiful Bill Act made substantial changes in the Tax Code, one area where that may not be seen so much is in terms of simplification, according to a new study.
HarperWhitfield Welcomes Norbert Jurkiewicz to Supervisor Role
August 26, 2025
HarperWhitfield P.C., with offices in Farmington and Weatogue (Simsbury), announced that Norbert Jurkiewicz of Farmington has joined the firm as a supervisor. Norbert brings more than 12 years of diverse public accounting experience spanning tax, audit, fiduciary services, and client advisory support. Prior to joining HarperWhitfield, he worked as a Senior Associate and Supervisor in Glastonbury, where he led engagements for a wide variety of clients including software companies, engineering firms, medical practices, and government contractors.
PCAOB Launches Smaller Firm Resource Group
August 26, 2025
The Public Company Accounting Oversight Board (PCAOB) today announced the formation of the Smaller Firm Resource Group, an advisory group of professionals from smaller audit firms.
Are outsourcing and AI fast-tracking the CPA pipeline shrink?: Trial Balance
August 25, 2025
PwC’s campus hiring cuts show how technology is reshaping accounting and raises new questions about the profession’s future.
IRS seeks to fill ‘critical vacancies’ as workforce declines 25%
August 25, 2025
The IRS, which has lost about 25% of its workforce this year, is moving to fill some jobs by various means, including asking employees who accepted deferred resignations if they want to stay on the job.
Will budget, staff cuts impede IRS modernization? Former commissioner weighs in
August 22, 2025
Former Commissioner Danny Werfel wouldn’t predict failure for the IRS in its bid to modernize technology with less money and fewer experienced workers while preparing systems for massive changes in the new tax law. But, without seeing a plan, he said he’s dubious the agency will be successful.
CT’s coffers are swelling, but towns are feeling the pinch
August 21, 2025
Municipal aid has lagged inflation despite massive CT surpluses
Treasury, IRS issue FAQs to address the accelerated termination of several energy provisions under OBBB
August 21, 2025
The Internal Revenue Service today issued frequently asked questions (FAQs) in Fact Sheet 2025-05 relating to the modification of sections 25C, 25D, 25E, 30C, 30D, 45L, 45W, and 179D under the One, Big, Beautiful Bill Act (OBBB).
1 in 10 corporate finance and accounting execs report ‘significant’ talent shortages
August 20, 2025
A new survey by the nonprofit Controllers Council aims to quantify talent concerns in corporate F&A.
Calculating AI’s impact on CPAs: New study quantifies time savings
August 20, 2025
The prevailing narrative regarding the role that generative AI can play in the life of a CPA goes something like this: Emerging AI tools can take care of busy work, freeing professionals to spend more time on value-added pursuits for their clients.
IRS should be more transparent when communicating phone service metrics, report says
August 20, 2025
The IRS should be more transparent in communicating its telephone service metrics by including in the metrics more phone lines that taxpayers call and by covering the entire fiscal year and not just filing season, an agency watchdog said in a report.