News

DeLauro pushes to preserve child tax credit

October 09, 2021

As Congress decides how to slim down a $3.5 trillion social-safety-net bill, U.S. Rep. Rosa DeLauro (D-3rd District) is working to ensure that an historic child tax credit makes the cut.

  • state tax
  • advocacy - state
  • advocacy - federal
  • federal tax

15 Tax Breaks for Self-Employed Clients

October 08, 2021

With the recent uptick in self-employed workers, chances are that some of your clients might be looking to freelance or register their own businesses. In either case, you can advise them on how to lower their self-employment taxes by considering the tax breaks below, including the new business income deduction.

  • state tax
  • federal tax

Give tax withholding a fresh look as 2021 year-end nears

October 08, 2021

The Internal Revenue Service reminds taxpayers today that the last quarter of 2021 is a good time to check withholding.

  • state tax
  • federal tax

SALT-cap relief faces rollback as Democrats eye less spending

October 05, 2021

Democrats risk settling for a less generous expansion of the state and local tax deduction than previously hoped after President Joe Biden conceded that lawmakers will have to scale back his economic agenda to get it enacted.

  • state tax
  • advocacy - federal
  • federal tax

Tax deadline extensions for individuals and businesses impacted by federally declared disasters

September 24, 2021

We have received some member questions about the handling of tax deadline extensions for individuals and businesses impacted by federally declared disasters.

  • state tax
  • federal tax

Should CTCPA advocate to change the state's partnership return filing deadline?

September 23, 2021

Your response is critical to our advocacy efforts.

  • state tax
  • federal tax

DRS Commissioner's Column - September 2021

September 21, 2021

An update from DRS Commissioner Mark Boughton

  • state tax

IRS recognizes Small Business Week: Resources available to help employers

September 13, 2021

During National Small Business Week, the Internal Revenue Service wants small business owners to know that information and resources to help them understand and meet their tax obligations are available free at IRS.gov.

  • federal tax
  • personal financial planning
  • practice management
  • state tax

2021 tax software survey: Shares of respondents and product and company information

September 01, 2021

In this year’s tax software survey by the JofA and The Tax Adviser, 2,154 CPAs assessed the software they used to prepare 2020 tax returns for a fee.

  • state tax
  • federal tax

IRS regulation of tax preparers gains steam

August 31, 2021

Internal Revenue Service regulation of return preparers, sidelined since its prohibition by the Loving decision, is back for another try.

  • state tax
  • federal tax

Reviewing Benefits of the State and Local Tax Deduction by County in 2018

August 25, 2021

As Congress considers repealing or making more generous the $10,000 state and local tax deduction cap in the budget reconciliation process, it is helpful to review how the state and local tax (SALT) deduction is taken by taxpayers across U.S. counties.

  • state tax
  • federal tax

As the state income tax reaches its 30th anniversary, here’s what you need to know about Connecticut’s essential source of revenue

August 23, 2021

Thirty years after an intense fight that led to creation of the Connecticut’s personal income tax, the levy has become the workhorse of the state budget — generating about 50% of the state’s general fund.

  • state tax

DRS Commissioner's Column: August 2021

August 18, 2021

Here's what's happening at the DRS, right from DRS Commissioner Mark Boughton.

  • state tax
  • advocacy - state

Security Summit warns tax pros to watch for tell-tale signs of identity theft

August 17, 2021

With identity thieves continuing to target the tax community, Internal Revenue Service Security Summit partners today urged tax professionals to learn the signs of data theft so they can react quickly to protect clients.

  • federal tax
  • forensic accounting and fraud
  • state tax
  • technology and cybersecurity

‘A never-ending tax season:’ Rating 2021

August 10, 2021

Tax Day 2020 was pushed to July to provide pandemic relief. The latest Tax Day was bumped a month to give the Internal Revenue Service time to implement tax laws that changed as late as March.

  • state tax
  • federal tax

Attorney General Tong, DRS Commissioner Boughton Warn Consumers of Fraudulent Letters About Unpaid Tax Debt

August 09, 2021

Attorney General William Tong and Department of Revenue Services Commissioner Mark D. Boughton today are warning Connecticut consumers of a scam in which they receive a threatening letter about unpaid federal tax debts.

  • state tax
  • technology and cybersecurity

CT DRS Posts Taxpayer Services Special Bulletin on Sales Tax Relief for Sellers of Meals

August 02, 2021

The Department of Revenue Services (DRS) is making sellers of meals aware that they may be eligible for a benefit that was authorized by legislation that was recently enacted by the Connecticut General Assembly. Under this legislation, certain sellers of meals are allowed to retain the sales tax they collect on sales of meals during a specified period of time.

  • state tax

DRS Issues State Tax Developments Alert from the 2021 Legislative Session

July 21, 2021

The following is an overview of legislation passed during the 2021 Regular Session and June Special Session affecting state taxes.

  • state tax
  • advocacy - state

The coming shift in sales tax compliance

July 21, 2021

The second annual Sovos Sales and Use Tax report sheds surprising light on the existing landscape of sales and use tax compliance, and raises questions about the future, particularly as we move into a digital age.

  • state tax
  • federal tax

Security Summit partners urge tax pros to use multi-factor authentication; critical step to boost protection against data theft

July 20, 2021

With security incidents on the rise, the Internal Revenue Service, state tax agencies and the tax industry urged tax professionals and taxpayers to use a special feature – multi-factor authentication – available on tax software products to help protect against identity and data theft.

  • state tax
  • technology and cybersecurity
  • federal tax