News

The accounting and finance profession is changing faster than ever, and CTCPA is committed to ensuring our members stay ahead of those changes. While we continue to deliver the day-to-day support you rely on, from advocacy and regulatory guidance to professional education and community connection, we are equally focused on preparing you, your organizations, and your staff for what comes next.

Lawmakers willing to pay down debt more slowly, if households benefit.

The Department of the Treasury and the Internal Revenue Service today issued a notice announcing upcoming regulations and providing guidance regarding Trump Accounts, which are a new type of individual retirement account (IRA) for eligible children.

The IRS finalized regulations for the 1% excise tax on corporate stock repurchases under Sec. 4501 — and one heavily criticized proposed provision is gone.

President Trump signed the Internal Revenue Service Math and Taxpayer Help Act into law, requiring the IRS to provide a clear explanation of tax-filing errors to taxpayers on its math error notices, identify the item that's being changed, and explain why a tax refund is higher or lower than expected.

The Internal Revenue Service encourages taxpayers to take steps now to prepare for the upcoming filing season by visiting IRS.gov/GetReady for tips on what is new and what to consider before filing. This is the first in a series of special IRS "Get Ready" reminders to help taxpayers prepare in early 2026 for the upcoming tax filing season. A little advance work preparing paperwork and organizing information now can help with filing tax returns quickly and accurately.

The Financial Accounting Standards Board (FASB) today published an Accounting Standards Update (ASU) to clarify and improve hedge accounting guidance.

The National Association of State Boards of Accountancy (NASBA) strongly opposes the U.S. Department of Education’s implementation of new student-loan policies that reclassify accounting degrees as “non-professional.”

The Department of the Treasury and the Internal Revenue Service today issued Notice 2025-70 PDF, requesting comments on the implementation of a new tax credit for individuals established under the One, Big, Beautiful Bill. This new credit applies to contributions to Scholarship Granting Organizations that serve elementary and secondary school students from low- and middle-income families.

The IRS will provide penalty relief to about 1 million taxpayers automatically starting next year, the national taxpayer advocate (NTA) said during a session at the AICPA National Tax Conference.

An AICPA letter in response to a Treasury and IRS call for recommendations related to the “all or nothing” approach to dual consolidated losses (DCLs) asked Treasury and the IRS to consider allowing an exception so companies aren’t unnecessarily penalized.

The AICPA and state CPA societies are calling on the U.S. Department of Education to explicitly include accounting programs in the regulatory definition of “professional degree programs.”

With New York, at least 24 states have eased education requirements needed to become a certified public accountant in a bid to address a talent shortage.

Swelling coffers intensify calls for Lamont to mitigate cuts to human service programs.

The Department of the Treasury and the Internal Revenue Service today issued guidance for workers eligible to claim the deduction for tips and for overtime compensation for tax year 2025.

President Donald Trump is considering pressuring states to stop regulating artificial intelligence in a draft executive order obtained Thursday by The Associated Press, as some in Congress also consider whether to temporarily block states from regulating AI.

(Rocky Hill, CT) – The Connecticut Society of CPAs (CTCPA) will honor 15 outstanding women at the CTCPA Women’s Awards event on Tuesday, January 20, 2026 from 7:30 to 10:30 a.m. at the TPC River Highlands. Awardees will be honored in three categories: Experienced Leaders, Emerging Leaders, and Aspiring CPAs. This is the seventh year the CTCPA has honored outstanding females in the profession.

The Financial Accounting Standards Board (FASB) today issued the report on Post-Implementation Review: Leases (Topic 842).

The longtime CTCPA member had received numerous awards over his 6 decades in accounting technology, was the 3rd inductee in CPA Practice Advisor's Accounting Hall of Fame, and named multiple times to Accounting Today‘s Top 100 Influential People in Accounting.

Sustainable AI transformation means knowing when to pause, not just accelerate.