News

Lawmakers to explore new fees, but not from tolls.

Accountants are in the midst of a series of changes, ranging from the future of the Internal Revenue Service to the kick-off of tax season.

Connecticut’s nonprofit service providers are facing a dire financial shortfall, with leaders warning Tuesday that a proposed budget cut could result in an effective $19 million loss in the first year, jeopardizing essential services for the state’s most vulnerable residents.

The SEC intends to ask courts to delay proceedings related to legal challenges to the commission's climate rule, according to a statement published Tuesday by the SEC's acting chair.

New presidential administrations typically mean a lot of questions and uncertainty. As Trump takes office, people wonder if the policy changes he promised will be realized. What will the tax implications be for CPA clients and practice owners? Where are interest rates headed? What about inflation?

The AICPA & CIMA's new president and CEO, Mark Koziel, told a group of accountants that the association is preparing for the possibility that the Public Company Accounting Oversight Board might be "rolled up" into the Securities and Exchange Commission under the Trump administration.

Has your firm started work on implementing the new quality management standards? If you haven't already started, it may be challenging getting it done by the Dec. 15, 2025, deadline for having a quality management system in place.

As legal challenges to the reporting rules for beneficial ownership information (BOI) wind their way through the courts, inflation adjustments again increased the civil monetary penalties for violating those rules.

All five of Connecticut’s congressional delegates this week signed on as sponsors of the Taxpayer Data Protection Act, which aims to prevent unauthorized access to taxpayer information housed within the US Treasury Department.

FinCEN promises 30-day delay; AICPA urges longer pause.

Gov. Ned Lamont’s biennial budget address on Wednesday sparked mixed reactions, with housing policy advocates like Open Communities Alliance (OCA) offering both recognition and suggestions for moving forward.

Legislative leaders are optimistic about compromise.

Gov. Ned Lamont’s biennial budget address prompted a range of reactions from advocacy groups, nonprofits, and local officials on Wednesday, with some arriving even before the completion of a morning briefing by his budget chief, Office of Policy and Management Secretary Jeff Beckham.

IRS employees who work in "critical filing season positions" are exempt from the voluntary resignation program offered to federal government employees until May 15, according to an email sent Wednesday.

Gov. Ned Lamont released a two-year, $55.2 billion budget proposal for the upcoming 2026-2027 biennium on Wednesday with a focus on expanding access to child care, providing a small tax cut to Connecticut residents, and allowing for some small but significant changes to the state’s hotly debated fiscal guardrails.

$50 income tax cut also included in $55.2 billion, two-year budget Lamont will present to lawmakers Wednesday.

The National Football League’s finance leaders tend to stay in their positions far longer than CFOs in other industries, according to data compiled by CFO.com.

Undergraduate enrollment in college accounting programs increased during the fall semester to its highest level in four years, a 12% increase from the previous fall based on National Student Clearinghouse Research Center data.

$50 income tax cut also included in $55.2 billion, two-year budget Lamont will present to lawmakers Wednesday.

New Hampshire is fighting back. The Granite State's latest move to protect businesses from sales tax legislation, HB 135, was introduced on Jan. 8, 2025. It states that "no New Hampshire business shall be required to collect sales taxes for a foreign jurisdiction [a.k.a., another state] unless mandated by Congress or New Hampshire law."