News

2022 Regulatory Outlook: A Year of Big Developments?

January 25, 2022

Insider stock sales, individual culpability in corporate misconduct, and climate-related disclosures headline a potentially busy year.

  • advocacy - federal

Biden administration to withdraw Covid-19 vaccination and testing regulation aimed at large businesses

January 25, 2022

The Biden administration is withdrawing its Covid-19 vaccination and testing regulation aimed at large businesses, following the Supreme Court's decision to block the rule earlier this month.

  • business and industry
  • coronavirus
  • practice management
  • advocacy - federal

Biden administration relaunches Child Tax Credit website

January 24, 2022

The Treasury Department and the White House relaunched a revamped version of the ChildTaxCredit.gov site Monday to coincide with the start of tax season, adding new features to help with filing taxes and accessing the full amount of unpaid credits.

  • state tax
  • advocacy - federal
  • federal tax

What Do the Supreme Court Rulings on Vaccine Directives Mean for Employers?

January 14, 2022

Now that the U.S. Supreme Court has blocked the Occupational Safety and Health Administration's (OSHA's) vaccine-or-testing rule for large employers, businesses may want to review their COVID-19-related workplace policies.

  • coronavirus
  • advocacy - federal

Home COVID tests to be covered by insurers starting Saturday

January 10, 2022

Starting Saturday, private health insurers will be required to cover up to eight home COVID-19 tests per month for people on their plans. The Biden administration announced the change Monday as it looks to lower costs and make testing for the virus more convenient amid rising frustrations.

  • coronavirus
  • advocacy - federal

Connecticut CPA Magazine Excerpt - The FASB and the GASB: Meet the New Chairs

January 06, 2022

Meet Joel Black, Chair of the Governmental Accounting Standards Board and Richard Jones, Chair of the Financial Accounting Standards Board.

  • accounting and auditing
  • business and industry
  • advocacy - federal
  • not-for-profit
  • practice management

Biden extends pause on student loan repayment through May 1

December 22, 2021

President Joe Biden announced Wednesday he is extending the pause on student loan payments until May 1.

  • coronavirus
  • advocacy - federal

Tax moves are still possible with Build Back Better delay

December 21, 2021

With the Build Back Better bill currently on at least temporary hiatus, practitioners at year’s end are in a holding pattern regarding the need to ”bone up” on new legislation. That may come later in the new year, but it will likely be a diminished version of the Biden administration’s original proposal.

  • advocacy - federal
  • federal tax

Large Employers Hesitant About Vax Mandate

December 14, 2021

“The majority of employers are really in wait-and-see-mode" amid legal challenges to the Biden administration's COVID-19 vaccine rule.

  • business and industry
  • advocacy - federal
  • coronavirus
  • practice management

Critical IRS Update: Tell Your Clients to Retain These Two Letters

December 13, 2021

The IRS will be sending out two letters to taxpayers in January: • Letter 6419 - Advance Child Tax Credit Payments • Letter 6475 - Economic Impact (stimulus) Payment It is important that your clients retain these letters. Entering incorrect advance child tax credit or economic impact payment amounts will cause delays in tax return processing and the issuance of refunds.

  • state tax
  • advocacy - federal
  • federal tax

For Kentucky tornado victims, IRS extends 2021 tax-filing deadline, other deadlines to May 16

December 13, 2021

Victims of this weekend's tornadoes in Kentucky will have until May 16, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

  • advocacy - federal
  • federal tax

Senate Finance Committee releases tax provisions of Build Back Better Act

December 13, 2021

The Senate Finance Committee released its portion of the Build Back Better Act on Saturday containing tax provisions and other updated legislative text.

  • advocacy - federal
  • federal tax

Accountants press IRS for faster refunds and responses

November 23, 2021

The National Society of Accountants has sent a letter to Internal Revenue Service commissioner Charles Rettig and leaders of Congress’s main tax committees asking the IRS to speed up the refunds for 2019 and 2020 tax returns and communicate better.

  • advocacy - federal
  • federal tax

Everyone 18 and older is now eligible for a COVID booster shot. Here’s what you need to know.

November 23, 2021

Coronavirus booster shots are now open to anyone 18 and older nationwide.

  • coronavirus
  • advocacy - federal

Record 4.4 Million Quit Jobs in September

November 15, 2021

The number of Americans who quit their jobs hit a record high in September, continuing a historic turnover that shows no signs of abating before the holiday season.

  • business and industry
  • practice management
  • advocacy - federal

The Vaccine Mandate Kicks In at 100 Employees. What If You’re at 98?

November 10, 2021

For small businesses hovering just under the federal vaccination guidelines, navigating this period is tricky.

  • business and industry
  • advocacy - federal
  • coronavirus
  • practice management

Biden's vaccine rules for 100 million workers are here. These are the details

November 04, 2021

In early September, President Biden announced he was taking steps to get more Americans vaccinated and turn the tide on COVID-19.

  • business and industry
  • advocacy - federal
  • coronavirus
  • practice management

Governor Lamont Announces President Biden Approves His Request for a Disaster Declaration Due to Damage From Remnants of Hurricane Ida

October 30, 2021

Governor Ned Lamont today announced that at his urging, President Joe Biden has approved his request for a presidential major disaster declaration due to the damage caused by the remnants of Hurricane Ida in early September.

  • advocacy - state
  • advocacy - federal

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.

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