News

American Rescue Plan tax credits available to small employers to provide paid leave to employees receiving COVID-19 vaccines; new fact sheet outlines details

April 21, 2021

The Internal Revenue Service and the Treasury Department announced today further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations.

  • business and industry
  • coronavirus
  • practice management
  • federal tax

Supply Pain

April 21, 2021

The onset of the pandemic reduced the global flow of goods. But when demand suddenly snapped back, supply chains proved less resilient.

  • business and industry
  • coronavirus

Business Restrictions Ease May 1, End May 19

April 19, 2021

Gov. Ned Lamont announced Monday that all public health restrictions due to the pandemic will be lifted May 19 leaving businesses to chart their own course as how to keep consumer confidence while broadening services.

  • coronavirus
  • advocacy - state

How to tackle the post-pandemic performance review

April 19, 2021

New workplace realities require a new way of evaluating performance.

  • business and industry
  • career resources
  • coronavirus
  • practice management

Restaurant Revitalization Fund details come into focus

April 19, 2021

The Restaurant Revitalization Fund (RRF) relief program application portal will be tested in a seven-day pilot period ahead of the application launch, the U.S. Small Business Administration (SBA) announced as it revealed key details of the program.

  • business and industry
  • coronavirus
  • practice management

Tips for for-profits applying NFP accounting rules for PPP funds

April 19, 2021

When accounting for Paycheck Protection Program (PPP) loans, for-profit entities may wish to apply the conditional contribution method that has been more commonly associated with not-for-profits’ PPP accounting.

  • business and industry
  • coronavirus
  • practice management
  • federal tax

IRS extends penalty relief for pandemic payroll credits

April 14, 2021

To continue to allow employers to take immediate advantage of various credits enacted in response to the COVID-19 pandemic, the IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of qualifying wages that they paid, rather than deposit them with the IRS.

  • business and industry
  • coronavirus
  • practice management
  • federal tax

How the 2021 busy season is different

April 12, 2021

Across the country, some accounting firms prepared for the 2021 busy season by staffing up and offering more flexible work options for employees who are dealing with family issues during the pandemic.

  • coronavirus
  • state tax
  • federal tax

Governor Lamont Announces Plans at Connecticut State Parks for the 2021 Outdoor Recreation Season

April 09, 2021

Governor Ned Lamont and Department of Energy and Environmental Protection (DEEP) Commissioner Katie Dykes today announced that Connecticut’s State Parks system and boat launches are planning to return to providing full services to visitors during the 2021 season, with some state campgrounds opening to campers with reservations today.

  • coronavirus
  • advocacy - state

IRS and COVID vaccine email scams proliferating this tax season

April 09, 2021

Security experts are seeing a rise this tax season in phishing schemes and malware tied to hot-button subjects like tax refunds, stimulus payments and COVID-19 vaccines.

  • coronavirus
  • technology and cybersecurity

Lamont, top lawmakers make progress streamlining emergency orders issued during pandemic

April 09, 2021

Gov. Ned Lamont and legislative leaders from both parties on Thursday took a step toward streamlining the hundreds of policies the governor imposed via executive order during the first year of the coronavirus pandemic.

  • coronavirus
  • advocacy - state

PCAOB's 2021 inspections target pandemic concerns, predictability

April 09, 2021

PCAOB inspections in 2021 will focus on the effects of the coronavirus pandemic on companies’ financial reporting while also becoming less predictable, according to resources the board published Tuesday.

  • accounting and auditing
  • business and industry
  • coronavirus

CT continues to get high marks for improved fiscal management

April 08, 2021

After nearly a decade of struggling with huge projected deficits, Connecticut continues to receive good news about its improving state finances.

  • coronavirus
  • advocacy - state

Grant for performance venues, theaters now open for applications

April 08, 2021

Operators of theaters and performance spaces left empty by the COVID-19 pandemic are getting access to a new federal lifeline.

  • coronavirus
  • not-for-profit
  • advocacy - federal

Career readiness is key to staying employed

April 07, 2021

The lingering economic impacts of the COVID-19 pandemic and the quickening pace of technological change mean that everyone, no matter how secure they feel, should have an eye toward their next job hunt. And employment disruption is one of the most stressful situations you can face in life.

  • career resources
  • coronavirus

Connecticut businesses could owe up to $1 billion in unemployment taxes. They want the state to cover it with federal relief funds.

April 07, 2021

Connecticut’s businesses on Wednesday called on the General Assembly and Gov. Ned Lamont to use federal coronavirus relief funds to spare firms as much as $1 billion in unemployment taxes.

  • business and industry
  • coronavirus
  • practice management
  • state tax
  • advocacy - state

Interstate tax issues on the rise for employees, businesses

April 07, 2021

Employees who move to low-tax states to take advantage of telecommuting during the pandemic may still be taxed by their former residence, as more states levy taxes on cross-border business.

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

1 In 3 Remote Workers May Quit If Required To Return To The Office Full Time, Robert Half Survey Finds

April 06, 2021

A new study by global staffing firm Robert Half shows that about 1 in 3 professionals (34%) currently working from home due to the pandemic would look for a new job if required to be in the office full time.

  • business and industry
  • career resources
  • coronavirus
  • practice management

How to claim the employee retention credit for the first half of 2021

April 05, 2021

The IRS explained the changes to the employee retention credit (ERC) for the first two calendar quarters of 2021 in Notice 2021-23, which amplifies Notice 2021-20.

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

IRS letters explain why some 2020 Recovery Rebate Credits are different than expected

April 05, 2021

As people across the country file their 2020 tax returns, some are claiming the 2020 Recovery Rebate Credit (RRC). The IRS is mailing letters to some taxpayers who claimed the 2020 credit and may be getting a different amount than they expected.

  • coronavirus
  • advocacy - federal
  • federal tax