Connecticut’s budget surplus has grown by $231 million due mostly to increased tax collections, according to the latest monthly report from state Comptroller Natalie Braswell.
According to state statute, Sales Tax Free Week begins on the third Sunday of August and runs until the following Saturday.
State auditors say the tax department never fulfilled a 2019 directive to secure $30 million from remote transactions
You should be aware of these changes, effective July 1.
The Internal Revenue Service is planning to mandate a new electronic fingerprinting process for e-file applications for tax practitioners starting Sept. 25.
GOP to Lamont: ‘Stop dancing around the edges’ and cut income tax.
An estimated 800 sales tax bills are under consideration by state legislators each month, according to a new report, as lawmakers grapple with the complexity of sales and use tax four years after the Supreme Court handed down the South Dakota v. Wayfair decision.
The Internal Revenue Service today announced expanded voice bot options to help eligible taxpayers easily verify their identity to set up or modify a payment plan while avoiding long wait times.
State officials estimate 350,000 families are eligible for the $250-per-child benefit
When accountants and tax pros accept all client demands and fail to establish clear boundaries, they risk taking on more work than they can handle and typically at low pay. And during a crazy tax season, it’s far too easy to run yourself ragged and neglect your own needs.
You might have business-owning clients who are using or thinking about using cryptocurrency in their business transactions, and these clients will need your expertise to deal with crypto tax compliance and to make strategic moves.
The child tax rebate, which was recently authorized by the Connecticut General Assembly and signed into law by Governor Ned Lamont, is intended to help Connecticut families with children. You may be eligible for a child tax rebate of up to a maximum of $750 ($250 per child up to three children).
The plunging value of many cryptocurrencies and nonfungible tokens has led to worries about the tax implications faced by crypto investors and companies.
Even if your plans are years down the road, you must start mapping out an effective succession or transition plan early to enable you to realize the full value of the work you put into your firm.
Governor Ned Lamont today announced that Connecticut families can soon apply to receive a state tax rebate of up to $250 per child for a maximum of three children as a result of the recently enacted 2022 Connecticut Child Tax Rebate that he signed into law earlier this month.
Tax preparers actually thought this year's filing season went a little smoother than expected. That’s the consensus from a recent survey from the National Association of Tax Professionals, which asked its more than 23,000 members before Tax Day what they believed their top challenges would be for the 2022 tax season. After the April 18 deadline, members were once again asked the same questions.
Congress gave billions of dollars in tax credits to employers in response to the COVID-19 pandemic that helped pay for providing paid sick and family leave and retaining employees, but now the IRS needs to step up its compliance efforts, according to a new report.
But projections hinge on state tax receipts continuing to boom
Each year, it's crucial to examine how things went during the busy season. Your workflows could always use a critical eye, even if you think this tax season was better than last year's. Jim Scott, Managing Director of Accountancy at IRIS Software Group, offers his tips to improve your system.
The Supreme Court declined to review a New York-led constitutional challenge to the $10,000 cap on state and local tax deductions imposed by Congress in the 2017 tax law.