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Under the bill, employees would accrue one hour of paid time off for every 30 hours worked up to 40 hours of paid time off in a year

Every tax season brings its own craziness — in no small part because of clients' notions about taxes.

The U.S. Department of Labor (DOL) on Tuesday released final regulations (RIN 1210-AC02) that will subject the financial services industry to new requirements designed to protect retirement investors from receiving bad or self-interested investment advice.

Existing noncompetes with senior executives — those who earn more than $151,164 annually and who are in a “policy-making position” — may remain in force.

Because of expected legal challenges, proponents of the ban are pushing for state and federal laws to place limits on non-competes

The Senate Democratic majority defied Gov. Ned Lamont Wednesday night by passing a complex bill intended to put Connecticut at the forefront of evolving national efforts to set standards for the development and use of artificial intelligence.

CFOs need to free up the time needed to ably execute on both strategic and tactical levels, according to McKinsey.

The IRS, in its release of the draft of the Form 1099-DA for brokers to report digital asset transactions, includes the broad definition of "broker" used in proposed regulations that drew industry ire when issued in 2023.

Senate Democrats on Monday urged the passage of an amended bill that starts to regulate artificial intelligence as the Judiciary Committee approved the bill and sent it back to the Senate floor.

Senate Democrats said Monday they are narrowing a groundbreaking proposal to set standards for the development and use of artificial intelligence in Connecticut, an effort to address Gov. Ned Lamont’s skepticism over a small state playing an outsized role in shaping technology.

Many states offered big relief in early 2020s as ARPA funds cushioned budgets.

The IRS's first attempts to rein in abuse by "ghost employers" — those who pay their workers but do not pay employment tax and federal payroll income tax withholding — had some success, and the Service should ramp up its pursuit, the Treasury Inspector General for Tax Administration (TIGTA) said in a recent report. TIGTA says the IRS has difficulty spotting ghost employers because it will have no record of them if they never file returns.

Financial advisors and tax professionals with small business owner clients should ensure they have considered every possible break that could help the bottom line, according to one expert.

The Internal Revenue Service's criminal investigators have been on the lookout for tax evasion by so-called "ghost employers" who don't pay employment taxes, and over 30 cases have been prosecuted in recent years, but the problem is far larger, according to a new report.

Democratic legislators seek borrowing to avoid cuts in core programs.

Updated FAQs on beneficial ownership information (BOI) from Treasury's Financial Crimes Enforcement Network (FinCEN) include details on the timing of the phase in of access to BOI under Section 6403 of the Corporate Transparency Act (CTA), P.L. 116-283.

Democrats say they can find additional money; Republicans say it doesn’t exist.

Slow or non-existent digital transformations, especially around AI integration, is common for accounting firms, according to new data from Rightworks.

The Connecticut Society of Certified Public Accountants (CTCPA) will honor Avon resident Drew G. Andrews, CPA of Whittlesey with the 2024 Jack Brooks Leadership Award at the CTCPA Annual Meeting on May 16. The Jack Brooks Leadership Award is presented annually to a CTCPA member whose personal efforts have advanced the accounting profession and strengthened the organization. It is named in memory of former CTCPA Executive Director Jack Brooks, a loyal champion of Connecticut CPAs.

Headlines can leave the impression that large companies are behind the times when it comes to offering corporate employees work location flexibility, but recent research paints a different picture.