News

The purpose of this publication is to provide guidance as to the scope and application of the credit against the income tax that is set forth in Conn. Gen. Stat. § 12-704c(d). More specifically, given the various legislative amendments surrounding this credit, this publication is intended to both clarify that taxpayers are eligible to claim the credit set forth in Conn. Gen. Stat. § 12-704c(d) in taxable year 2023 and to explain how eligible taxpayers are to claim said credit on income tax returns due for said taxable year.

Two recent Supreme Court decisions involving the power of government agencies are a "big deal" for the accounting profession because they introduce a level of uncertainty that makes some tax practitioners uncomfortable, AICPA & CIMA's CEO said recently.

NPAG’s Accounting Talent Strategy Report explores the latest pipeline data, root causes of the profession’s attrition, potential solutions, and next steps.

The Connecticut Department of Revenue Services will be hosting a virtual webinar on Wednesday, Sept 4, 2024, at 10:00 a.m. to provide a Connecticut Real Estate Conveyance Tax Return (myCTREC – Form OP-236) Tax Overview. Representatives from the Department will give a presentation about Connecticut’s myCTREC and answer frequently asked questions. Please submit any myCTREC questions with the registration form by Wednesday August 28, 2024.

Accounting firm Marcum, which has multiple offices in Connecticut, is being acquired by a publicly traded financial services advisory firm in a deal worth $2.3 billion, the company announced.

The Governmental Accounting Standards Board (GASB) will soon benefit from additional stakeholder perspectives in light of a recent decision by the Trustees of the Financial Accounting Foundation (FAF) to expand the size of the Governmental Accounting Standards Advisory Council (GASAC).

Of all problems the tax and accounting profession faces, staffing seems the most persistent. Older and younger accountants alike are bailing, driven by a sometimes hard combination of perception and reality.

The National Pipeline Advisory Group (NPAG) published a report Wednesday a year in the making, calling for a professionwide effort aimed at bolstering the supply of accounting talent.

Compensation is always a hot topic in accounting, but it's gotten even hotter these days thanks to the difficulty the profession has in attracting and retaining talent.

Advocates say CT can afford $600-per-child income tax credit and still save to pay down debt

Experience, Learn and Earn (ELE), a program designed to ease attainment of the final 30 hours of the education requirement for CPA licensure, has grown since it began offering online courses last semester.

As the Internal Revenue Service intensifies work on the Employee Retention Credit, the agency today shared five new warning signs being seen on incorrect claims by businesses.

The Internal Revenue Service and the Treasury Department reported further progress Thursday on offering more online tools and expanded taxpayer service, including six new features for the Individual Online Account, a new Spanish version of the Business Tax Account, and additional business forms that can be filed electronically.

A clinical psychologist and leadership coach introduces tactics and mindsets to help leaders and professionals avoid burning out at work.

Although lots of resources and hype have gone towards digital transformations, few have used the technology to overhaul finance yet, according to McKinsey.

Last budget surplus surged $300 million in final weeks of fiscal year.

The new presumptive presidential nominee for the Democratic Party carries a long paper trail in tax policy. That history may alter the debate in a pivotal election ahead of a looming deadline next year.

Entities seeking access to beneficial ownership information (BOI) will spend over 8.7 million hours filling out paperwork in the first year and over 3.6 million in the second year, the Financial Crimes Enforcement Network (FinCEN) said in an estimate Monday.

Few American elections have had as much at stake as this year's, and clients have a lot on their minds concerning November.

As the adage goes, the grass isn't always greener. This rings true for American workers who have started shunning the idea of the Great Resignation, AKA leaving their jobs in droves, in favor of remaining in their current roles.