News

Connecticut Democrats gathered Wednesday to celebrate Gov. Ned Lamont’s landslide reelection and Republicans’ stunning General Assembly losses as an affirmation of them and a repudiation of President Donald Trump that comes with opportunity and challenges.

Democrats are riding their sweep of Congress into a new era, eager to meet voter demands for change with plans to tackle high costs of living and confront President Donald Trump’s final years in the White House.

Gov. Ned Lamont, a Democrat buoyed by Connecticut’s extraordinary string of budget surpluses after a lost decade of chronic fiscal crisis, won a third term Tuesday over Republican Ryan Fazio in a midterm rout dominated by the policies and unpopularity of President Donald Trump.

The Internal Revenue Service today reminded paid tax return preparers to renew their preparer tax identification number for 2027.

The AICPA’s Professional Ethics Executive Committee (PEEC) voted Tuesday to publish an exposure draft of proposed changes to the AICPA Code of Professional Conduct related to alternative practice structures, including those involving private-equity investment.

The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) intended to simplify the application of the indexation guidance used in determining whether equity-linked contracts, such as warrants, are considered indexed to an entity's own stock and potentially classified as equity, and to improve the decision usefulness of information provided to investors. Comments are due by January 4, 2027.

Delivering on a deal’s thesis requires knowing what the combined company must change, a new report advises.

A CPA and business performance coach shares four questions to help accounting and finance professionals find purpose and joy in their work.

The AICPA is seeking feedback on proposed updates to the framework used by CPAs to evaluate controls over an organization’s information systems.

The Financial Accounting Standards Board (FASB) today issued a proposed Accounting Standards Update (ASU) that would improve the operability of the accounting for equity method investments. Stakeholders are encouraged to review and provide comments on the proposed ASU by January 11, 2027.

The plan would also shift all special education costs onto the state.

Employers are unlikely to be ready to implement Trump account contribution programs this year because the proposed regulations are too burdensome to administer, the AICPA said in a letter that asked Treasury and the IRS to extend the implementation timeline.

Thousands of tax returns seeking nearly $180 million in refunds over two years were prepared by ghost preparers tied to a fraudulent withholding scheme, according to a report from the Treasury Inspector General for Tax Administration (TIGTA).

The Internal Revenue Service today encouraged taxpayers to take simple steps now to make filing easier and avoid tax-time surprises next year.

The PCAOB’s latest analysis of its inspections of public company audits showed significant improvement in nearly all firm segments.

The citizens group hoping to reform Connecticut’s oppressive property tax system will release its recommendations Monday, hoping to force candidates for state offices to take positions during the final push toward Election Day.

Crowe, a leading public accounting and consulting firm, announced that it has launched a new shared ownership program, CroweONE ("Crowe: Our Next Era"), designed to give all eligible employees a stake in the firm's continued growth and value creation. The broad-based employee ownership program was developed in collaboration with KKR, a leading global investment firm, following the August 2026 close of KKR's equity investment in Crowe. CroweONE marks an early milestone in the strategic partnership between the two firms and their joint focus on investing in Crowe's people.

At first glance, Richie Sater, CPA, had no business solving a problem that had stumped mathematicians for four decades.

The Internal Revenue Service today announced Tax Professional Awareness Week, taking place the week of October 19th, which will feature webinars and practical tools to help tax professionals prepare for the upcoming filing season, support accurate tax return preparations and protect taxpayer information.

The Internal Revenue Service has already begun issuing refunds to more than 50,000 taxpayers who benefited from the adoption tax credit carryforward and expects the refund process for most eligible taxpayers to be complete by the end of the year.