News

Inflation adjustments have significantly increased the civil monetary penalties for violating the beneficial ownership information (BOI) reporting rules and for the unauthorized disclosure or use of BOI. The rules requiring the reporting of BOI just went into effect this month.

The General Assembly is giving up on a special legislative session to address how to keep Connecticut committed to a transition to electric vehicles, leaving the issue for consideration in the regular session that opens on Feb. 7.

The popularity of undergraduate accounting programs in the U.S. has been declining for years. According to a 2023 AICPA survey, the yearly number of new graduates with accounting degrees dropped 18.3% from its peak in 2016 through 2022.

Prevalent threats range from a contentious presidential election and expectations for a benign end to inflation to the hazards of adopting generative AI.

Richard Spencer, ICAEW’s director of sustainability, talks to Neil Cutting about the need for finance leaders to view sustainability through a business lens.

Generative artificial intelligence (Gen AI) is a fast-moving train. Perhaps that's why many companies seem unsure about when to hop onboard.

The Financial Accounting Foundation (FAF) today announced the launch of a completely redesigned website for the Financial Accounting Standards Board (FASB). Users can access the new FASB site immediately at www.fasb.org.

Shorter, clearer letters to reduce taxpayer confusion; about 170 million notices sent to individual taxpayers annually

New London county has received a FEMA disaster emergency declaration which allows for the postponement of certain due dates for specific tax filings and tax payments. It also allows for the deduction of casualty losses attributable to emergency declaration within the declared area.

CTCPA Marketing and Communications Director Kirsten Piechota and Sacred Heart University faculty Dr. Danny Pannese and Dr. Benoît Boyer were quoted in an article entitled “Updated CPA Exam Encourages Specialization” in the Fairfield County Business Journal and Westchester County Business Journal.

Gov. Lamont to meet with critical players on proposal to phase out sales of new gas-powered cars by 2035.

MahoneySabol, a regional certified public accounting firm based in Glastonbury, Connecticut, is pleased to announce the successful merger of Giamalis and Company, a prominent Glastonbury accounting firm known for its expertise and client-focused approach. This strategic move is part of MahoneySabol’s ongoing commitment to enhancing its service offerings and expanding its regional presence.

The Innovative CPA Group (ICG) is pleased to announce Ashley Laufer, CPA as the firm’s newest Partner, effective January 1, 2024. Laufer has been an integral part of the firm since its inception in 2017.

It’s just 13 weeks long, but Connecticut’s legislative session will be packed with debate over issues that impact a number of residents from housing and health insurance to voting security.

Gov. Ned Lamont used a Thursday morning address to the Connecticut Business and Industry Association’s annual economic summit to preview a budget package he will propose next month that will recommend adherence to fiscal guardrails and minimal changes.

The Innovative CPA Group (ICG) is delighted to announce its merger with Piasecki & Company in Norwalk, CT, forming a dynamic partnership that unites leading firms to better serve their clients and strengthen their position in the market.

Present and long-term concerns about cybersecurity are top of mind for C-suite executives around the world, a new report from global consulting firm Protiviti found. Cyber threats have climbed the ranks of the annual report's global risks, going from 15th place last year to third in 2024, and up from 13th to the top risk facing organisations 10 years out.

Marcum LLP has announced that Connecticut-based firm Federman, Lally & Remis LLC (FLR) has joined the Firm, effective January 1, 2024. This merger strengthens Marcum’s team in New England’s Automotive and Food & Beverage sectors, adding five partners and twelve associates. Furthermore, FLR brings invaluable experience to Marcum’s tax and assurance divisions.

The Treasury Department and Internal Revenue Service today issued an announcement informing businesses that they do not have to report the receipt of digital assets the same way as they must report the receipt of cash until Treasury and IRS issue regulations.

Whittlesey, a leading assurance, advisory, technology, and tax services provider, is pleased to announce the promotion of Melissa Braun, CPA, to Partner. “Melissa brings a wealth of tax and advisory expertise to our clients. Over the years, Melissa has consistently displayed an exceptional ability to lead staff and provide our clients with outstanding service. In her new role as Partner, she will be instrumental in the Firm’s strategic direction, mentoring team members, and strengthening relationships with our clients,” said Managing Partner and CEO Drew Andrews.