News
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.
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.
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.
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.
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).
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).
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.
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:
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.
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.
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.
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.
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.
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.
Lawmakers carve a new path around CT budget cap
July 15, 2025
Just two weeks old, biennial budget underfunds worker benefits by $210 million.
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.
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.
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.
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.
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.