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Big Beautiful Bill doesn't mean the immediate end of energy credits

July 29, 2025

The host of clean energy tax credits ushered in by the Inflation Reduction Act have not disappeared entirely, as some had feared. In the wake of the One Big Beautiful Bill Act, there are still some possible investments to be found, experts say.

  • federal tax

IRS staff cuts could put burden on practitioners to explain OBBBA

July 29, 2025

Staff cuts at the IRS could mean tax professionals become more responsible for explaining the provisions of H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act (OBBBA), a former IRS communications chief said during AICPA Town Hall last week.

  • federal tax

IRS, Security Summit remind tax pros they must have a Written Information Security Plan to protect client data

July 29, 2025

The Internal Revenue Service and its Security Summit partners today reminded tax professionals about the federal mandate to have a Written Information Security Plan (WISP) designed to help protect them against threats from identity thieves and data breaches. IRS provides resources to help with this process.

  • practice management
  • technology and cybersecurity
  • federal tax

New IRS commissioner plans implementation of Trump tax bill

July 29, 2025

The new commissioner of the Internal Revenue Service, Billy Long, explained his plans for the agency and the new tax bill during his first public talk as IRS commissioner Monday during the National Association of Enrolled Agents' tax summit.

  • federal tax

More than One-Third of Americans Have Experienced Fraudulent Activities After Being Affected by a Disaster Says AICPA Survey

July 25, 2025

Thirty-seven percent of Americans have experienced fraudulent activities after being personally and/or professionally impacted by a natural disaster, according to a recent survey conducted by The Harris Poll on behalf of the American Institute of CPAs (AICPA).

  • personal financial planning

Financial Accounting Foundation Seeks Nominations for the Financial Accounting Standards Advisory Council

July 24, 2025

The Board of Trustees of the Financial Accounting Foundation (FAF) today announced that it is seeking nominations for new members to join the Financial Accounting Standards Advisory Council (FASAC) for an initial one-year term beginning January 1, 2026. The FASAC is the primary advisory body to the Financial Accounting Standards Board (FASB).

  • accounting and auditing

Shorter workweek benefits extend beyond burnout recovery

July 24, 2025

Employees with shorter workweeks are more likely to experience positive health changes and better work fulfilment, and those improvements can provide workforces with job resources to accelerate professional and personal growth.

  • business and industry
  • career resources
  • practice management

AICPA Survey Reveals What Relief Americans Want from the IRS Following a Natural Disaster

July 23, 2025

In a survey conducted recently by The Harris Poll on behalf of the American Institute of CPAs (AICPA), Americans were asked which type of tax filing and payment relief would be helpful after experiencing a natural disaster:

  • personal financial planning
  • federal tax

FinCEN says it will postpone effective date of anti-money-laundering rule

July 21, 2025

Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday that it plans to postpone the effective date of a rule bringing certain investment advisers within the standards of its anti-money-laundering and countering-the-financing-of-terrorism (AML/CFT) programs as it revisits the rule.

  • accounting and auditing
  • business and industry
  • federal tax
  • boi

MahoneySabol Promotes Casey O’Brien to Partner

July 17, 2025

MahoneySabol, a regional certified public accounting firm based in Glastonbury, announced the promotion of Casey O’Brien, CPA to Partner. O’Brien brings nearly two decades of public accounting experience to his new leadership role.

  • member news

MahoneySabol Welcomes Crystal Germanese as Partner in Tax Department

July 17, 2025

MahoneySabol, a regional certified public accounting firm based in Glastonbury, announced the appointment of Crystal Germanese as a Partner in the firm's Tax Department. With over 20 years of experience working closely with privately held businesses and their owners, Germanese combines deep technical knowledge with a personalized approach to navigating complex tax matters. She brings a wealth of experience and a strong commitment to client care to her new role.

  • member news

CT sues the Trump administration again, this time over FEMA funding

July 16, 2025

In CT, $84 million in federal funding for projects to enhance climate resilience is at risk.

  • advocacy - state

Overworked or overwhelmed? The two sides of technology

July 16, 2025

Productivity is lacking in the workplace, according to a Microsoft survey, with technology posing both as the problem and the solution.

  • business and industry
  • practice management
  • technology and cybersecurity

Connecticut One Of 25 States To Sue Over Federal Education Funds

July 15, 2025

Attorney General William Tong is once again taking the Trump administration to court, this time joining a coalition of 25 states in suing the administration over $6.8 billion in federal funding it is withholding from the states.

  • advocacy - state
  • advocacy - federal

Lawmakers carve a new path around CT budget cap

July 15, 2025

Just two weeks old, biennial budget underfunds worker benefits by $210 million.

  • advocacy - state

Manual tasks still clogging finance teams’ capacity

July 15, 2025

Just about eight in 10 of respondents in a recent survey by enterprise tech firm Zuora said their finance teams are “swamped” with manual tasks.

  • business and industry
  • technology and cybersecurity

AI is seen as the most powerful force for finance staff

July 14, 2025

Organizations with specific, crafted plans for AI adoption are already seeing tangible ROI, according to a large survey of professionals.

  • business and industry
  • technology and cybersecurity

Less than half of public accounting staff hold CPA licenses: Trial Balance

July 14, 2025

The larger the accounting firm, the fewer CPAs it has on staff, according to new data from Inside Public Accounting.

  • practice management
  • pipeline

Next Trump budget bill begins taking shape in House

July 14, 2025

The ink is hardly dry on President Donald Trump's $3.4 trillion tax and spending package and House Republicans are already at work on a follow-up budget bill coming this autumn.

  • advocacy - federal

Plan ahead to solve the succession dilemma

July 14, 2025

Succession is a journey that can take several years, so the timing is important and it needs to be a choice, not a crisis.

  • career resources
  • practice management
  • emergency assistance and practice continuation