News

In a letter submitted to the U.S. Department of the Treasury and the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) requested guidance related to the 2025 reporting and substantiation requirements regarding the deductions for qualified tips and qualified overtime compensation.

Transition relief provided by the IRS on Tuesday in Notice 2025-57 makes it easier for certain lenders to report car loan interest for vehicles that meet standards set in the new tax law and also suspends penalties for those lenders for 2025.

As the federal government shutdown grinds on, most Internal Revenue Service operations are closed. With agency-wide furlough in place since Oct. 8 for everyone except already-identified excepted and exempted employees, tax professionals and taxpayers alike can expect a lot less from the agency.

Next month, Connecticut voters will head to the polls to elect candidates for local positions in their city or town. No statewide or national elections — like those for United States Senate and House of Representatives seats or for governor of Connecticut — are held in odd-numbered years. But on Nov. 4, many communities throughout the state will still elect officeholders to positions like mayor, city councilor, alder or board of education member.

A niche technology issue just two years ago, AI is now a core category of enterprise risk.

The AICPA and state societies have pledged strong support for accounting education programs to gain STEM status, and the idea also has backing from the majority of respondents in a new survey.

This second-annual list of America’s Top 200 CPAs includes those from assorted specializations and from across the country. The CPAs selected have all distinguished themselves through success at their firms, the advancement of their profession and by giving back to their communities, and each survived a review process that involved the research, evaluation and rating of this year’s all-star, public practicing CPAs through nominations, direct outreach, recommendations and editorial review. But ultimately, each CPA earned the Forbes’ editorial imprimatur through trust.

Video game developers are benefiting from research and development tax credits and recent changes in the rules for deducting R&D expenses, with tax professionals helping claim valuable tax breaks for gaming companies.

New research from the CFO Alliance and Diligent Institute shows mid-market finance leaders are entering 2026 focused on credibility, transaction discipline and people strategy.

Connecticut is among the top states in the country for research and development, according to a recent report from Smilehub.org. Smilehub is a nonprofit tech company that uses data to create ratings.

The majority of accountants are comfortable with technology taking over jobs previously done by people, according to a new report.

Mashantucket, CT – Finance, technology, and leadership will converge this fall at the first-ever Northeast Finance & Accounting Convention, a groundbreaking two-day event designed to equip professionals for the future of finance. Set for Monday, November 3 through Tuesday, November 4 at Foxwoods Resort Casino, the convention will feature nationally recognized speakers, curated breakout sessions, dynamic networking events, and exclusive VIP opportunities.

CTCPA Executive Director and CEO Bonnie Stewart and others were featured on the cover of the 'Hartford Business Journal' for an article on the new CPA pathways to licensure.

Connecticut eases CPA requirements with three new pathways combining education and experience; first major change in 25 years amid nationwide accountant shortage.

The Connecticut Society of Certified Public Accountants is relocating from Rocky Hill to a smaller office in Glastonbury as it adapts to members’ preferences for virtual learning.

Wire transfer fraud, typically perpetrated via business email compromise, is a known risk to all types of businesses, including CPA firms. When a CPA firm handles client money, additional risk ensues.

Younger employees are moving through careers faster than other generations, and they face a scarcity of entry-level roles.

The Innovative CPA Group (ICG) is pleased to announce its merger with Whittaker & Saucier, CPA’s, PA, of Venice, Florida. Effective September 17, 2025, the combined firm will operate under the name “Innovative CPA Group of Florida, LLC,” creating a unified team to deliver an expanded suite of accounting, tax, audit, advisory, and consulting services.

Jeffrey Solomon, Managing Director and Audit Practice Leader at CBIZ, was selected as one of the first-ever inductees to the Cystic Fibrosis Foundation Connecticut's Finest Hall of Fame. Jeff is a member of organization’s Connecticut's Finest Volunteer Leadership Team, was a New Haven's Finest honoree in 2013, and has been involved with the Cystic Fibrosis Foundation for almost 15 years.

MyCTSavings is a state-sponsored retirement savings program, for employers with 5 or more full- and/or part-time employees that do not offer a retirement plan. When businesses enroll, their employees can save for retirement through payroll contributions into a Roth IRA. The program is free to businesses, and more than 50 payroll companies work with MyCTSavings to provide payroll integration with your existing payroll process.