News

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.

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

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.

New workplace realities require a new way of evaluating performance.

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.

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.

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.

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.

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.

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.

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.

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.

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

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

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.

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.

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.

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.

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.

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.