News

House passes PPP deadline extension in 415-3 vote

March 17, 2021

A bill to move the Paycheck Protection Program application deadline from March 31 to May 31 sailed through the U.S. House of Representatives on Tuesday night, passing in a 415-3 vote that sends the legislation to the Senate for consideration.

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

IRS pushes April 15 U.S. tax deadline to May 15

March 17, 2021

The Internal Revenue Service is planning to push back the deadline for the tax filing season about one month to May 15 from April 15.

KPMG U.S. publishes inaugural DE&I report

March 17, 2021

Big Four firm KPMG U.S. has published its "Diversity, Equity and Inclusion: 2020 KPMG U.S. Transparency Report," an inaugural report examining the firm's own diversity, equity and inclusion statistics, as well as mapping out its diversity initiatives moving forward.

  • diversity
  • member news

Navigating the Mental and Physical Wellness Challenges of COVID-19

March 17, 2021

As the pandemic stretches past the one-year mark, CPA firms are in uncharted employee wellness territory – from having to navigate decisions about the COVID-19 vaccine to finding ways to support employee mental wellness.

  • business and industry
  • coronavirus
  • practice management

Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline

March 17, 2021

The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.

  • advocacy - federal
  • coronavirus
  • federal tax
  • state tax

Hiring Mistakes Come At A Higher Price Amid Pandemic

March 16, 2021

Companies today have more at stake if they make a hiring mistake, new research from global staffing firm Robert Half shows. More than 3 in 4 senior managers surveyed (76%) admit to recruiting the wrong candidate for a role, and nearly two-thirds (64%) said the negative impact is more severe now than it was a year ago.

  • career resources

Post-COVID State Tax Policy Changes

March 16, 2021

Programs and policies designed to soften the economic impact of the pandemic are still being rolled out today, and may continue at the state level.

  • coronavirus
  • state tax

6 tips for mitigating and recovering from burnout

March 15, 2021

Three-quarters of more than 1,500 respondents to an August survey from FlexJobs and Mental Health America reported experiencing burnout at work in 2020, with 40% attributing that burnout directly to the pandemic.

  • business and industry
  • career resources
  • coronavirus
  • practice management

Governor Lamont Announces Accelerated Schedule To Provide COVID-19 Vaccines To Connecticut Residents as Quickly and Equitably as Possible

March 15, 2021

Governor Ned Lamont today announced that he is accelerating Connecticut’s age-based rollout of the COVID-19 vaccine to proceed on a quicker schedule than was originally anticipated when it was announced last month.

  • coronavirus
  • advocacy - state

SBA EIDL Payments Not Due Until 2022

March 15, 2021

mall businesses have even more time to pay off certain emergency loans as the SBA said the first due date for repayment of EIDLs made in 2020 is extended from 12 months to 24 months from the date of the note. For loans made in 2021, including loans under the COVID-19 EIDL program, the first payment due date is extended from 12 months to 18 months from the date of the note.

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

American Rescue Plan's Individual Tax Breaks

March 11, 2021

The signing of the American Rescue Plan comes just a few days before extended unemployment benefits were scheduled to start running out. There are several tax breaks for individuals to take note of.

  • coronavirus
  • federal tax
  • personal financial planning
  • state tax

Biden signs historic $1.9 trillion Covid-19 relief law

March 11, 2021

President Joe Biden signed his sweeping $1.9 trillion Covid-19 economic relief package into law on Thursday afternoon. "This historic legislation is about rebuilding the backbone of this country and giving people in this nation, working people, middle class folks, people who built the country, a fighting chance," Biden said in the Oval Office before signing the legislation. "That's what the essence of it is."

  • coronavirus
  • advocacy - federal

AICPA takes case for PPP deadline delay to Congress

March 09, 2021

The AICPA sent a letter Tuesday encouraging congressional leaders to push back the Paycheck Protection Program’s (PPP’s) March 31 application deadline at least 60 days.

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

How the pandemic has affected public finance

March 09, 2021

The pandemic has caused some special circumstances for state and local governments in juggling their finances. Jeffrey Previdi, the vice-chairman of the Governmental Accounting Standards Board who spent more than 20 years of his career at S&P Global Ratings, talks about what his regulatory organization has done to assist them.

  • accounting and auditing
  • coronavirus

Inside the tax provisions of the stimulus act

March 09, 2021

The Senate has approved the House's $1.9 trillion stimulus bill, designed to provide relief and address other issues related to the COVID pandemic.

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

CDC releases highly anticipated guidance for people fully vaccinated against Covid-19

March 08, 2021

New guidelines from the US Centers for Disease Control and Prevention say people fully vaccinated against Covid-19 can safely visit with other vaccinated people and small groups of unvaccinated people in some circumstances, but there are still important safety precautions needed.

  • coronavirus

CFOs Can Shape the Post-Pandemic Workplace

March 08, 2021

As a return to the office becomes imminent for many, finance chiefs must determine what it will take to make the workspace feel safe for employees.

  • business and industry
  • coronavirus

Ned Lamont’s year in the shadow of COVID

March 08, 2021

Hanging behind Gov. Ned Lamont’s desk is the painting “Right to Know.” Norman Rockwell completed it in 1968, years after the artist best known for folksy Saturday Evening Post illustrations had turned to serious themes, including distrust in government.

  • coronavirus
  • advocacy - state

Will Your Firm Experience High Growth Post-COVID?

March 08, 2021

COVID-19 changed both the economy and the reality for many professions, including accounting. However, if you take the right steps, including automation, your accounting firm can be positioned to experience high growth post-pandemic.

  • practice management
  • technology and cybersecurity

Plan to expand child tax credit offers hope along with direct payments

March 06, 2021

When her car started making a noise more than a year ago, Chinara Johnson parked the vehicle and hasn’t used it since.

  • coronavirus
  • advocacy - state
  • advocacy - federal