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Gov. Ned Lamont defeated liberal challenger Josh Elliott in a primary Tuesday that tested Democrats’ allegiance to a more moderate incumbent, who guided Connecticut through a pandemic and presided over an unprecedented string of budget surpluses and a major tax cut.

Sen. Doug McCrory, a veteran Democratic lawmaker of more than two decades, lost a bid to hold onto his state Senate seat representing Hartford, Bloomfield and Windsor in one of the state’s most closely watched legislative primaries on Tuesday night.

Luke Bronin, the former mayor of Hartford who campaigned on the need for new voices in Congress, soundly defeated long-time incumbent U.S. Rep. John Larson in the Democratic primary on Tuesday, all but guaranteeing Bronin the seat.

The Department of the Treasury and the Internal Revenue Service today issued proposed regulations providing guidance to employers that choose to make contributions to Trump Accounts for employees or their dependents. The proposed regulations also clarify nondiscrimination requirements for employers offering Trump Account contribution programs and dependent care assistance programs.

Last week, the AICPA’s Professional Ethics Executive Committee (PEEC) discussed revised changes to guidance in the AICPA Code of Professional Conduct related to firm independence and alternative practice structures, such as those funded by private-equity investments. PEEC also discussed revising the definition of “network firm” and adding a new interpretation prohibiting attest client investment in firms.

A global survey shows that regular AI use makes employees feel more self-sufficient, but AI is also replacing informal interactions that foster learning.

The IRS, which recently made business tax accounts accessible to millions of new entities, said Thursday that it’s adding new features to the accounts and expanding others.

The Internal Revenue Service today updated frequently asked questions about the deductions for qualified overtime compensation.

Connecticut’s minimum wage is set to increase by more than 50 cents next year as state residents contend with rising costs for life’s necessities.

With early voting underway in the 2026 Democratic gubernatorial primary, Connecticut voters say affordability is the single most important issue to them, according to a Sacred Heart University/WFSB/CT Insider Poll. The poll also showed two-term incumbent Gov. Ned Lamont leading state Rep. Josh Elliott of Hamden, his primary challenger.

The Department of the Treasury and the Internal Revenue Service (IRS) issued Notice 2026-28 PDF, providing guidance on the employer credit for paid family and medical leave (PFML) under the Working Families Tax Cuts (WFTC). The WFTC makes permanent and expands eligibility and coverage for employers offering PFML benefits to employees.

An uptick in confidence in the second quarter can’t disguise the overall dark mood.

The Senate Finance Committee on Thursday approved the Taxpayer Assistance and Service (TAS) Act, which the AICPA said will improve tax administration and reduce burdens on both taxpayers and preparers.

A new exclusive Intuit survey provided to CFO.com found most finance leaders lack a single source of truth, even as the concept remains debated among experts.

Top 10 accounting firm Grant Thornton is acquiring fellow top 10 firm CBIZ to form a firm that’s outsized only by the Big Four in terms of U.S. revenue.

The Financial Crimes Enforcement Network (FinCEN) should soon finalize its interim rule restricting beneficial ownership information (BOI) reporting requirements to foreign companies, the head of the agency told Congress.

The gap between deployment of artificial intelligence (AI) tools in cybersecurity and confidence in those tools is widening as organizations struggle to establish governance for effective implementation, a global survey shows.

Finance leaders focused only on cost savings risk missing AI’s most promising opportunities: revenue growth, strategic advantage and long-term enterprise value.

With technological change influencing where employees work, companies are signing fewer long-term leases.

On the gubernatorial debate stage in New Haven on Wednesday night, Hamden State Rep. Josh Elliott accused two-term incumbent Gov. Ned Lamont of being “too afraid of the federal government” and of not doing enough to keep immigration enforcement agents out of Connecticut.