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The bill requires CPAs to keep work product and workpaper related to work for a client for at least seven years after creation unless the law requires a longer retention. Current law only specifies that CPAs must retain workpaper as required by law.

Taxation of CPA services was a hot topic in several state legislatures this year as states sought to fix expected revenue shortfalls.

Twenty-five years after the first CPA certificate was granted in the United States, John W. Cromwell, Jr. became the first black CPA. This year marks the 100th anniversary of that achievement.

Looking back over a tumultuous year, we learned the value of cool heads and steady hands. After dealing with the ups and downs of the pandemic, the economy, the election and political and civil unrest, I marked some broader lessons we can glean and implement in our financial planning for 2021.

Cynthia Calderón, a tax senior at CohnReznick in Hartford, was one of three featured panelists in the CPA/SEA’s December 7 “Panel Discussion on Understanding Barriers for Minority Students in Accounting.” Cynthia, who serves as the co-chair of the CTCPA’s Diversity, Equity, and Inclusion Initiative, shared her story with CPA society executives to open their eyes toward the struggles and challenges facing minority accounting students in their quest toward becoming a CPA.

To deal with this common issue, make sure you prepare well, ask questions during the meeting, and look for ways to include other participants.