News

IRS offers flexibility on Work Opportunity Tax Credit

August 16, 2021

The Internal Revenue Service is giving employers more leeway in claiming the Work Opportunity Tax Credit to hire people in areas who face significant obstacles to employment for jobs in summer youth and community programs.

  • business and industry
  • coronavirus
  • federal tax
  • practice management

How CFOs can incorporate resilience in their plans: Workforce

August 12, 2021

The COVID-19 pandemic has underscored to finance leaders the need to have structures that can withstand shocks to help their teams and their business thrive.

  • business and industry
  • coronavirus

The Hartford indefinitely delays a return to offices as COVID-19 variant surges

August 11, 2021

The Hartford Financial Services Group Inc. said Wednesday it’s delaying a planned Oct. 4 return-to-office, citing the spread of the COVID-19 delta variant.

  • business and industry
  • coronavirus
  • member news
  • practice management

Amid vastly changing work environment, Stanley Black & Decker to shift one-third of office employees to remote work

August 09, 2021

Post-pandemic operations at Stanley Black & Decker will look a lot different from pre-COVID times, both figuratively and literally.

  • business and industry
  • coronavirus

CPA Exam Preliminary Draft Content Survey – Review and Respond by Sept. 7

August 05, 2021

Under the new CPA Evolution licensure model, the CPA Exam will feature a Core and Discipline structure. Over the last several months, the AICPA’s Examinations Team engaged CPA subject matter experts in discussions about potential CPA Exam content that reflects the changing role of newly licensed CPAs. Their insights helped the development of preliminary content for inclusion in each of the Core and Discipline sections. Now it’s time to hear from you. The AICPA invites you to review the draft Core and Discipline section content and share your feedback by September 7 via this survey. The survey will take about 20-25 minutes to complete and will provide the AICPA with vital feedback to developing the new CPA Exam.

  • business and industry
  • career resources
  • practice management

IRS offers further guidance on employee retention credit, even as Congress may end it soon

August 05, 2021

The IRS and the Treasury guidance in Notice 2021-49 deals with how various issues apply to the employee retention credit in both 2020 and 2021, amplifying earlier guidance offered earlier this year in Notice 2021-20 and Notice 2021-23. The new notice explains changes made by the American Rescue Plan Act of 2021 to the employee retention credit that are applicable to the third and fourth quarters of 2021.

  • business and industry
  • advocacy - federal
  • coronavirus
  • federal tax
  • practice management

Newly Issued Employee Retention Credit Guidance Punishes Owner Employees If They Have Living Family Members

August 05, 2021

The IRS issued Notice 2021-49 on August 4th which states that the Employee Retention Credit (ERC), made available for businesses suffering from the COVID-19 crisis, will not be available with respect to wages paid to a majority owner, or such owner’s spouse, if the majority owner has a brother or sister (whether by whole or half-blood), ancestor, or lineal descendant.

  • business and industry
  • advocacy - federal
  • coronavirus
  • federal tax
  • practice management

Governor Lamont Announces Aflac Selected as Claims Administrator for Paid Leave Program, Company Will Bring 150 Jobs to New Offices in Windsor

July 30, 2021

As claims administrator, Aflac will accept applications, determine eligibility, and administer benefits for paid leave. Individuals will have flexible options to submit applications for paid leave, either online, by email, or by calling directly into a customer care advocate.

  • business and industry
  • practice management
  • advocacy - state

SBA Streamlines Forgiveness Process for PPP Loans

July 30, 2021

The Small Business Administration (SBA) issued new guidance yesterday designed to accelerate the end of the Paycheck Protection Program (PPP) by streamlining the process for millions of small businesses and nonprofit employers to have their emergency payroll loans forgiven.

  • accounting and auditing
  • business and industry
  • advocacy - federal
  • coronavirus

Risk-taking is critical for women in accounting: Engage

July 29, 2021

Drawn in by an ad for SAP consultants that read, “Astronauts wanted,” Melanie Kanaka left her comfortable job in accounting at a major conglomerate in Sri Lanka — and almost immediately began questioning the decision.

  • accounting and auditing
  • business and industry
  • career resources
  • diversity
  • practice management

CT Bond Commission considers $20M for Manufacturing Innovation Fund

July 22, 2021

Connecticut's state Bonding Commission could vote tomorrow on whether to direct $20 million in bond funding to the Manufacturing Innovation Fund, which underwrites key manufacturing industry programs.

  • business and industry
  • advocacy - state

Wyden introduces bill to overhaul pass-through deduction and expand to accountants

July 21, 2021

Senate Finance Committee chairman Ron Wyden, D-Oregon, introduced legislation Tuesday to streamline the section 199A deduction for qualified business income for pass-through entities, allowing accountants, lawyers, doctors and others to qualify, but phasing out above $400,000.

  • business and industry
  • advocacy - federal
  • federal tax
  • practice management

At 2021’s midpoint, what’s on the minds of CFOs?

July 15, 2021

CFOs have reasons to be positive, but they also have several reasons to be concerned. Ways of working are changing, with employees seeking to continue the flexible arrangements that became the norm during the COVID-19 pandemic. Steve Gallucci, national managing partner for Deloitte’s U.S. CFO Program, shares insights into the minds of CFOs in the latest episode of the Journal of Accountancy podcast.

  • business and industry

New law gives preference to seniority in worker recall process

July 14, 2021

Connecticut employers who have laid off staff will have to give preference to those same workers when jobs become available again and recall them in order of seniority, according to legislation signed into law by Gov. Ned Lamont this week.

  • business and industry
  • advocacy - state
  • coronavirus
  • practice management

More Than Half Of U.S. Companies Plan To Add New Positions In Second Half Of 2021

July 13, 2021

Job seekers will have plenty of options in the coming months, research from talent solutions firm Robert Half shows. According to the "State of U.S. Hiring" survey of more than 2,800 senior managers, 51% of respondents anticipate adding new permanent positions in the second half of 2021, and another 48% plan to fill vacated positions or bring back furloughed employees.

  • business and industry
  • career resources
  • practice management

Your Business Survived the Pandemic – Now What?

July 13, 2021

No one was prepared for the devastating impacts of the COVID-19 pandemic. Thankfully, the U.S. government acted to provide businesses and individual workers with a much-needed lifeline. Economic stimulus programs such as the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Heroes Act, the American Rescue Plan Act, along with other actions and programs, kept many businesses afloat and provided household income to furloughed and terminated employees.

  • business and industry
  • coronavirus

Connecticut CPA Magazine Excerpt - The FASB and the GASB: Meet the New Staff Leaders

July 12, 2021

Meet Alan Skelton, Director of Research and Technical Activities for the Governmental Accounting Standards Board and Hillary Salo, Director of Technical Activities and Chair of the Emerging Issues Task Force for the Financial Accounting Standards Board.

  • accounting and auditing
  • business and industry
  • practice management

Building on the gains made from remote work

July 08, 2021

As vaccination rates creep up across the country, businesses are working to figure out a new normal. One of the biggest questions many leaders are facing is how much flexibility they’ll give employees to continue working from home.

  • business and industry
  • career resources
  • practice management

Evaluating Employer Health Plan Costs Post-Pandemic

July 07, 2021

When it comes to health plan cost calculations for firms over the next year, consider these four major coronavirus-related factors.

  • business and industry
  • coronavirus
  • practice management

3 ways to fall in love with your job again

July 02, 2021

If the stresses of the pandemic have you looking for a new job, consider these fixes before turning in your notice.

  • business and industry
  • career resources
  • practice management