News
Gen Z leads in AI adoption, upskilling, but training gaps persist
October 29, 2025
When it comes to using AI tools, generationally diverse teams are more productive, a new report found. But training for Gen Z employees outpaces opportunities for older generations to upskill.
Reputation, security, compliance: Why AI risk disclosures are surging
October 29, 2025
The rise of artificial intelligence (AI) to power businesses is real — and so are the associated risks.
CFO Peer Audit: What soft skills are becoming more relevant to the CFO role?
October 28, 2025
Strong technical prowess remains the bedrock of financial leadership, but CFOs say their jobs now require broader skill sets.
Fewer but bigger refunds this tax season: IRS
October 28, 2025
The Internal Revenue Service issued slightly fewer, but slightly larger, refunds last tax season, but saw a more than 1% jump in the total number of returns received and processed.
From childhood tax surprise to CPA: A profession leader’s journey
October 28, 2025
Decades before Oscar Vives became a successful CPA whose specialty is advising clients on retirement income, he went to a store in Florida, excited to buy a video game priced at $49.99.
Governor Lamont Announces $3 Million in Emergency Funding for Connecticut Foodshare To Address SNAP Benefits Crisis
October 28, 2025
Governor Ned Lamont today announced that his administration is providing $3 million in emergency state funding to the nonprofit organization Connecticut Foodshare to help Connecticut residents who are expected to lose access to food stamp benefits from the Supplemental Nutrition Assistance Program (SNAP) during the shutdown of the federal government.
Accounting Firms Report Strong Hiring Outlook, AICPA Report Finds
October 27, 2025
Accounting firms have a strong hiring outlook this year, with three-in-four of those that recruited new staffers in 2024 indicating plans to hire the same amount or more in 2025, according to a biennial American Institute of CPAs (AICPA) report on trends related to accounting graduation rates, the CPA Exam and hiring demand by accounting firms.
Accounting grad numbers continue to decline
October 27, 2025
The number of students who graduated with either a bachelor's or master's degree in accounting dropped again last year, but not as much as in recent years, according to the latest Trends report released Monday by the American Institute of CPAs.
GenAI Research Tool Offers Information and Insights from AICPA’s Professional Library
October 27, 2025
The American Institute of CPAs has created an artificial intelligence-enabled tool, Josi, that provides secure, direct access to the AICPA’s professional standards, authoritative guidance and related information.
IRS reminds tax pros to renew PTINs for the 2026 tax season
October 27, 2025
The Internal Revenue Service today reminds the more than 800,000 paid tax preparers that preparer tax identification numbers must be renewed annually, and the 2026 renewal period is now open.
The accounting graduate pipeline: Where do things stand?
October 27, 2025
The desire to hire new accounting graduates remains strong among public accounting firms, and signs point to a possible turning of the tide when it comes to supply meeting demand, according to data from the AICPA’s biennial Trends report.
Congress passes bill requiring IRS to clarify math error notices
October 23, 2025
The U.S. Senate on Monday passed the Internal Revenue Service Math and Taxpayer Help Act, H.R. 998, which, among other changes, requires the IRS to provide taxpayers with details on notices related to a math or clerical error.
IRS issues FAQs on Form 1099-K threshold under the One, Big, Beautiful Bill; dollar limit reverts to $20,000
October 23, 2025
The Internal Revenue Service today issued frequently asked questions in Fact Sheet 2025-08 PDF regarding the dollar threshold for filing Form 1099-K under the One, Big, Beautiful Bill.
IRS issues FAQs to address Employee Retention Credits under ERC compliance provisions of the One, Big, Beautiful Bill
October 23, 2025
The Internal Revenue Service today issued frequently asked questions in Fact Sheet 2025-07 relating to the limitation on credits and refunds for Employee Retention Credits claimed for the third and fourth quarters of 2021 that were filed after Jan. 31, 2024. This limitation was enacted under the One, Big, Beautiful Bill.
Whittlesey Wins ClearlyRated’s 2025 Best of Accounting Award for Service Excellence
October 23, 2025
Whittlesey has earned ClearlyRated’s 2025 Best of Accounting® Award for service excellence. The award is based entirely on client feedback and recognizes firms that consistently deliver exceptional client experience. ClearlyRated’s program provides statistically valid and objective benchmarks for the accounting industry, highlighting which firms deliver the highest levels of client and employee satisfaction.
Connecticut Republicans: Use Unbudgeted Funds To Offset Property Tax Hikes
October 22, 2025
With property values climbing faster than paychecks, many Connecticut homeowners are facing municipal tax increases — and Republican lawmakers say the state’s record surplus should be part of the solution.
IRS limits services during shutdown
October 22, 2025
The Internal Revenue Service spelled out some of the services that will be limited or unavailable during the government shutdown that's now surpassed the three-week mark.
AICPA Seeks Safe Harbor for 2025 Reporting Requirements of Tips and Overtime
October 21, 2025
In a letter submitted to the U.S. Department of the Treasury and the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) requested guidance related to the 2025 reporting and substantiation requirements regarding the deductions for qualified tips and qualified overtime compensation.
IRS offers relief on car loan interest reporting under H.R. 1
October 21, 2025
Transition relief provided by the IRS on Tuesday in Notice 2025-57 makes it easier for certain lenders to report car loan interest for vehicles that meet standards set in the new tax law and also suspends penalties for those lenders for 2025.
What the IRS shutdown and furloughs mean for tax pros
October 21, 2025
As the federal government shutdown grinds on, most Internal Revenue Service operations are closed. With agency-wide furlough in place since Oct. 8 for everyone except already-identified excepted and exempted employees, tax professionals and taxpayers alike can expect a lot less from the agency.
