News

Finance chiefs are entering the year facing new pressures around talent, tax policy, capital allocation and risk.

The Department of the Treasury and the Internal Revenue Service today provided guidance on the “No Tax on Car Loan Interest” provision enacted under the One, Big, Beautiful Bill.

Under a new U.S. Postal Service (USPS) rule effective December 24, 2025, the USPS has clarified that a machine-applied postmark indicates the date the item is first processed by USPS using an automated sorting machine, which may be later than the day it was received by the post office. That means a document received by the post office on time could end up with a postmark dated after the deadline.

The Internal Revenue Service today announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026, while the mileage rate for vehicles used for medical purposes will decrease by half a cent, reflecting updated cost data and annual inflation adjustments.

From workslop and microshifting to conscious unbossing, the language of work this year reflected complicated operational and talent risks for CFOs.

The Internal Revenue Service today updated frequently asked questions in Fact Sheet 2025-09 PDF regarding changes to the limitation on the deduction for business interest expense (Section 163(j)) under the One, Big, Beautiful Bill.

The Internal Revenue Service today updated frequently asked questions in Fact Sheet 2025-10 PDF related to changes to the Premium Tax Credit made under the One Big, Beautiful Bill and to related provisions that no longer apply.

[Commissioner Mark Boughton is] pleased to present the Annual Report of Taxes and Fees collected by the Connecticut Department of Revenue Services (DRS) during the 2024-25 fiscal year. Our report provides a comprehensive overview of the revenue DRS collected, thanks to the tireless efforts of our dedicated staff. Our agency reached significant milestones this year as we focused on our most important mission: Achieving the highest level of taxpayer compliance and contributing to Connecticut’s fiscal and economic well-being.

We wrapped up our annual Conference on Current SEC and PCAOB Developments last week, and it’s hard to pick a single theme or highlight from the sheer volume of information presented and professional networking packed into a few days.

The AICPA Professional Ethics Executive Committee (PEEC) voted Friday to issue the exposure draft of Proposed Revisions Related to Alternative Practice Structures, which features updated guidelines related to independence rules and private-equity investments.

More than 20 new Connecticut laws will take effect in whole or in part on Jan. 1, 2026.

But in an apparent contradiction, most finance chiefs expect the AI value equation to change quickly.

The Financial Accounting Standards Board (FASB) today published an Accounting Standards Update (ASU) focused on updating the FASB Accounting Standards Codification® for a broad range of Topics arising from technical corrections, unintended application of the Codification, clarifications, and other minor improvements.

Governor Ned Lamont today announced that his administration has submitted a plan to the bipartisan leadership of the Connecticut General Assembly to tap into the recently created Emergency State Response Reserve in response to recent federal funding delays and reductions that have been made by the Trump administration and Congressional Republicans to essential health and human services supports that the residents of Connecticut depend on for some of their most basic needs.

Eighty-eight per cent of finance professionals believe AI will be the most transformative tech trend over the next 12 to 24 months. Yet only 8% feel their organisations are “very well prepared” to manage it, a new AICPA and CIMA survey shows.

In their most recent quarterly survey, Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta find CFOs expect pricing pressure to persist due to tariffs.

Reversing a district court, the Eleventh Circuit held Tuesday that the Corporate Transparency Act (CTA), which mandated beneficial ownership information (BOI) reporting, is constitutional and remanded the case for further proceedings.

The Governmental Accounting Standards Board (GASB) has issued Statement No. 105, Subsequent Events, which is designed to improve the financial reporting requirements for subsequent events.

When calculators arrived they said they would dumb us down. While the similar panic over artificial intelligence is understandable, we need to learn to embrace and harness it, says Kevin Phillips.

The Innovative CPA Group (ICG) is pleased to announce its merger with Cerrone, Graham & Shepherd, P.C. of Worcester, Massachusetts. Effective November 1st, 2025, the combined firm will operate under the name “The Innovative CPA Group.” This merger strengthens our expertise and expands our ability to offer integrated accounting, tax, audit, advisory, and consulting services.