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CFOs need to free up the time needed to ably execute on both strategic and tactical levels, according to McKinsey.

Senate Democrats on Monday urged the passage of an amended bill that starts to regulate artificial intelligence as the Judiciary Committee approved the bill and sent it back to the Senate floor.

Senate Democrats said Monday they are narrowing a groundbreaking proposal to set standards for the development and use of artificial intelligence in Connecticut, an effort to address Gov. Ned Lamont’s skepticism over a small state playing an outsized role in shaping technology.

Many states offered big relief in early 2020s as ARPA funds cushioned budgets.

The IRS's first attempts to rein in abuse by "ghost employers" — those who pay their workers but do not pay employment tax and federal payroll income tax withholding — had some success, and the Service should ramp up its pursuit, the Treasury Inspector General for Tax Administration (TIGTA) said in a recent report. TIGTA says the IRS has difficulty spotting ghost employers because it will have no record of them if they never file returns.

Financial advisors and tax professionals with small business owner clients should ensure they have considered every possible break that could help the bottom line, according to one expert.

The Internal Revenue Service's criminal investigators have been on the lookout for tax evasion by so-called "ghost employers" who don't pay employment taxes, and over 30 cases have been prosecuted in recent years, but the problem is far larger, according to a new report.

Democratic legislators seek borrowing to avoid cuts in core programs.

Updated FAQs on beneficial ownership information (BOI) from Treasury's Financial Crimes Enforcement Network (FinCEN) include details on the timing of the phase in of access to BOI under Section 6403 of the Corporate Transparency Act (CTA), P.L. 116-283.

Democrats say they can find additional money; Republicans say it doesn’t exist.

Slow or non-existent digital transformations, especially around AI integration, is common for accounting firms, according to new data from Rightworks.

The Connecticut Society of Certified Public Accountants (CTCPA) will honor Avon resident Drew G. Andrews, CPA of Whittlesey with the 2024 Jack Brooks Leadership Award at the CTCPA Annual Meeting on May 16. The Jack Brooks Leadership Award is presented annually to a CTCPA member whose personal efforts have advanced the accounting profession and strengthened the organization. It is named in memory of former CTCPA Executive Director Jack Brooks, a loyal champion of Connecticut CPAs.

Headlines can leave the impression that large companies are behind the times when it comes to offering corporate employees work location flexibility, but recent research paints a different picture.

Gen Z employees are looking for higher salaries and more work-life balance, according to new research from dcdx.

It’s always good to look back and see how far you have come and the lessons you’ve learnt. Seasoned accountants on Any Answers have done just that as they share the experience they have gained over the years.

Non-compete clauses, which can bar an employee from working for a competitor of their employer after leaving their job, have existed in many industries for decades.

With the April tax filing deadline here, the Internal Revenue Service highlighted a variety of improvements that dramatically expanded service for millions of taxpayers during the 2024 filing season.

The IRS has provided a limited waiver of the addition to tax under Sec. 6655 for a corporate taxpayer's failure to pay estimated income tax with respect to its Sec. 55 corporate alternative minimum tax (AMT) liability.

With finance named as one of the most stressful professions in the UK, Molly Macfarlane speaks to an accountant about their experience with stress and a wellbeing coach on stress management.

The Department of Revenue Services and Internal Revenue Service have issued additional guidance on the taxability of Connecticut's Hero payments.