News

2021 child tax credit, EITC, and premium tax credit limits updated

April 26, 2021

The IRS on Monday issued adjusted amounts for the child tax credit, the earned income tax credit (EITC), and the premium tax credit (PTC) for 2021, to reflect changes enacted in the American Rescue Plan Act of 2021, P.L. 117-2 (Rev. Proc. 2021-23).

  • coronavirus
  • federal tax

Even after a COVID-19 vaccination, pandemic anxiety may persist. Here’s how you can cope as Connecticut reopens.

April 26, 2021

Fully vaccinated and an expert in infectious diseases, Dr. Jaimie Meyer still can’t let go of some pandemic precautions that she knows, logically, she doesn’t need anymore.

  • coronavirus

Governor Lamont Announces Certain COVID-19 Vaccination Clinics Will No Longer Require Appointments Beginning April 27

April 26, 2021

Governor Ned Lamont today announced that beginning Tuesday, April 27, 2021, more than 50 providers of COVID-19 vaccines in Connecticut will no longer require an appointment prior to providing individuals with vaccinations. Connecticut residents will be able walk-up to the clinic and receive a vaccination on-the-spot.

  • coronavirus
  • advocacy - state

IRS Office of Chief Counsel's first National Virtual Settlement Month successful in resolving almost 150 Tax Court cases

April 26, 2021

Building on the success of Settlement Days and Virtual Settlement Days, the Internal Revenue Service Office of Chief Counsel hosted its first National Virtual Settlement Month in March 2021. The results are impressive.

  • federal tax

Lamont says his plan for $6B in federal pandemic relief will transform CT

April 26, 2021

The largest child care expansion in state history, summer learning camps for nearly 100,000 students, huge investments in worker training and business growth, and a continued focus on COVID-19 vaccinations topped the list of initiatives Gov. Ned Lamont outlined Friday for the latest round of federal pandemic relief.

  • advocacy - state

Restaurants to Toast End of Restrictions, Vaccinated Patrons

April 26, 2021

Beginning on May 19, hundreds of Connecticut restaurants will offer a free drink to customers who order food and can prove they have been vaccinated against the COVID-19 virus, Gov. Ned Lamont said Monday.

  • coronavirus
  • advocacy - state

Senators draft energy innovation tax credit proposal

April 26, 2021

Two members of the Senate Finance Committee released a discussion draft of a bipartisan energy tax credit bill Monday that could represent a path forward for Republicans and Democrats.

  • advocacy - federal
  • federal tax

The pandemic pushed us forward. Let’s keep evolving

April 26, 2021

A close friend of mine had a slight stroke, and it changed his life for the better. He immediately made changes to his lifestyle, eating, and exercise habits. Today, he is healthier, happier, and more productive. All of these changes were things he kept making promises to do "someday," but that turned out to be a very risky idea.

  • career resources
  • coronavirus

Bills to repeal motor vehicle tax and cap property taxes are in political limbo

April 23, 2021

As the legislature’s Finance Committee wrapped its work Thursday, two bills to significantly reshape the municipal property tax were in political limbo.

  • state tax
  • advocacy - state

CT finance panel approves restaurant bailout, new taxes on wealthy and digital ads

April 23, 2021

The legislature’s Finance, Revenue and Bonding Committee approved state income tax cuts Thursday for the poor and middle class and a one-time bailout for restaurants, largely funding them with two tax surcharges on the wealthy and a new levy on digital media ads.

  • business and industry
  • state tax
  • advocacy - state

Lawmakers Advance Public Option

April 23, 2021

The Finance, Revenue, and Bonding Committee overwhelmingly voted Thursday to send a bill that creates a state-run public option health insurance plan to the Senate.

  • business and industry
  • advocacy - state

SBA to reopen Shuttered Venue Operators Grant portal Saturday

April 23, 2021

In a brief statement issued late Thursday night, the SBA said that it had completed rigorous testing on the portal, which was forced to shut down due to technical issues only hours after it opened on April 8. The SBA also provided updated documents and guidance Friday. The agency said that interested applicants should register for an account in advance through the portal.

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

American Rescue Plan tax credits available to small employers to provide paid leave to employees receiving COVID-19 vaccines; new fact sheet outlines details

April 21, 2021

The Internal Revenue Service and the Treasury Department announced today further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations.

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

Democratic Spending Plan Modifies 20% of Lamont’s Budget

April 21, 2021

The legislature’s Democrat-controlled Appropriations Committee proposed a budget Wednesday that doesn’t touch the $3.5 billion Rainy Day Fund, but spends about $46 billion over the next two years.

  • advocacy - state

Democrats want CT to spend $180 million more on municipal aid. What does that mean for your town?

April 21, 2021

The legislature’s budget-writing committee is recommending that the state spend $180 million more on municipal aid in the fiscal year that begins July 1, a 7.4% increase.

  • advocacy - state

Supply Pain

April 21, 2021

The onset of the pandemic reduced the global flow of goods. But when demand suddenly snapped back, supply chains proved less resilient.

  • business and industry
  • coronavirus

DRS Commissioner Column: Tax Season Continues...

April 20, 2021

For the second consecutive year, we enter the third week of April with an extended personal income tax filing and payment deadline still ahead of us.

  • state tax

Governor Lamont Announces Bipartisan Agreement To Restore the Unemployment Insurance Trust Fund

April 20, 2021

Governor Ned Lamont, State Representative Sean Scanlon (D-Branford, Guilford), State Representative Holly Cheeseman (R-East Lyme, Salem), legislative leaders, the Connecticut AFL-CIO, and the Connecticut Business & Industry Association (CBIA) today announced details of a bipartisan proposal to restore the Unemployment Insurance Trust Fund and reduce taxes on the majority of Connecticut businesses.

  • business and industry
  • practice management
  • advocacy - state

Business Restrictions Ease May 1, End May 19

April 19, 2021

Gov. Ned Lamont announced Monday that all public health restrictions due to the pandemic will be lifted May 19 leaving businesses to chart their own course as how to keep consumer confidence while broadening services.

  • coronavirus
  • advocacy - state

Cannabis Legalization Hits Impasse Over Social Equity

April 19, 2021

Connecticut’s cannabis legalization effort appeared in danger of a stalemate last week as Gov. Ned Lamont and a crucial group of Democrats in the legislature seemed at odds over the bill’s social equity provisions.

  • advocacy - state