News

Senate passes Biden's $1.9 trillion relief package including $1,400 stimulus checks

March 06, 2021

The Senate passed President Joe Biden's $1.9 trillion stimulus package on Saturday, sending the amended bill back for a vote in the House followed by the president signing the legislation.

  • coronavirus
  • advocacy - federal
  • federal tax

DRS Commissioner Issues Guidance on H.B. No. 6516

March 05, 2021

As Governor Lamont is expected to sign House Bill No. 6516, An Act Mitigating Adverse Tax Consequences from Employees Working Remotely During COVID-19, and Concerning the Removal of Liens on the Property of Public Assistance Beneficiaries and a Three-Tiered Grants in Lieu of Taxes Program, into law, the purpose of this Commissioner's Bulletin is to make taxpayers aware of the impact the legislation will have on tax filing and payment obligations, including individual income tax returns and associated liabilities due on or before April 15th, 2021.

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

Get started with robotic process automation

March 05, 2021

Accounting firms are using up-and-coming technologies with the potential to change the business landscape forever. One technology gaining interest is robotic process automation (RPA), a tool that computerizes mundane, repetitive tasks and completes them far faster than humans could do manually.

  • business and industry
  • practice management
  • technology and cybersecurity

Governor Lamont Announces Plans To Ease Some COVID-19 Restrictions in Connecticut

March 05, 2021

Governor Ned Lamont today announced that in the coming days he plans to revise some requirements that were implemented in Connecticut in the onset of the COVID-19 pandemic, particularly when it comes to those relating to capacity levels and travel restrictions.

  • coronavirus

With billions in federal relief on the way to CT, legislators assert their role in deciding how to spend it

March 05, 2021

After ceding unprecedented authority to Gov. Ned Lamont during the first year of the coronavirus pandemic, the General Assembly is reasserting itself — just as Washington is poised to send more than $4 billion in new aid to Connecticut.

  • coronavirus
  • advocacy - state
  • advocacy - federal

CTCPA: Pay Close Attention to Your 2020 Financial Documents, 1099s

March 02, 2021

2020 was clearly not like any other year — and navigating through the tax season will be no different. The Connecticut Society of CPAs (CTCPA) is warning residents to pay close attention to the accuracy of their 2020 financial documents, especially 1099s recording unemployment funds received.

  • advocacy - federal
  • advocacy - state
  • coronavirus
  • member news

CT hasn’t started collecting new payroll tax from state workers

March 02, 2021

State officials imposed a new payroll tax starting Jan. 1 to launch the Connecticut’s Family and Medical Leave program — but it’s more than two months into the year, and they haven’t begun collecting the levy from qualified state employees.

  • state tax
  • advocacy - state

IRS issues employee retention credit guidance

March 02, 2021

In Notice 2021-20, the IRS issued detailed guidance for employers claiming the employee retention credit for calendar quarters in 2020.

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

Connecticut Wealth Management Ranks #1 on the Hartford Business Journal List of 'Best Places to Work in Connecticut' - Small/Medium Category

March 01, 2021

Connecticut Wealth Management of Farmington ranked #1 on the Hartford Business Journal's "2021 Best Places to Work in Connecticut" list, in the small/medium employers category.

  • member news

CT Senate Passes Bill to Address Commuter Tax Issues

March 01, 2021

House Bill 6513 (HB 6513), An Act Mitigating Adverse Tax Consequences Resulting From Employees Working Remotely During Covid-19, and Concerning The Removal Of Liens On The Property Of Public Assistance Beneficiaries And Three-Tiered Grants In Lieu Of Taxes Program, passed the Senate today.

  • state tax
  • advocacy - state
  • federal tax

Dennis Cole of Beers, Hamerman, Cohen & Burger, P.C. Quoted in WTNH Story on Unemployment Overpayments

March 01, 2021

CTCPA Past President Dennis Cole of Beers, Hamerman, Cohen & Burger, P.C. was interviewed for the WTNH feature "IRS issues guidance for taxpayers caught up in unemployment overpayment debacle."

  • member news

Department of Health Urges Patience, Asks Those Who Can To Wait

March 01, 2021

The online vaccination signup for Connecticut residents 55 years and older will start at 8 a.m. today, but not everyone is going to be able to get the vaccine in the first week or even get one scheduled.

  • coronavirus

IRS issues guidance for taxpayers caught up in unemployment overpayment debacle

March 01, 2021

A number of people who watched our report on unemployment overpayments Friday have reached out looking for answers. Connecticut is not the only state dealing with overpayment issues. The Internal Revenue Service is now issuing guidance.

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

Zoom meetings — without the awkwardness

March 01, 2021

In an office setting, leading a meeting meant reserving a room and ensuring that you spoke loud enough for everyone to hear. Virtual meetings, though, come with a different set of challenges.

  • coronavirus
  • practice management
  • technology and cybersecurity

House passes $1.9 trillion stimulus bill with a variety of small business relief

February 27, 2021

The U.S. House of Representatives passed, by a vote of 219–212, a $1.9 trillion COVID-19 relief package early Saturday morning that includes $1,400 stimulus checks to individuals, an extension of unemployment benefits, and tens of billions in aid for small businesses and not-for-profits.

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

Schumer weighs big-firm tax to enable minimum wage hike

February 26, 2021

Senate Majority Leader Chuck Schumer is weighing adding a provision to the $1.9 trillion COVID-19 relief plan that would put a penalty tax on big companies that don’t pay workers at least $15 an hour, a Democratic aide said on condition of anonymity.

  • coronavirus
  • advocacy - federal
  • federal tax

Barron & Company, LLP and Kosovsky and Company, CPA and Consultants, LLC Have Merged

February 25, 2021

The firm will operate under the name of Barron & Company, LLP and will maintain both its Torrington and West Hartford offices.

  • member news

Cherie Lafazanidis Promoted to Partner at Barron & Company, LLP

February 25, 2021

She specializes in tax and accounting services for closely held businesses.

  • member news

What Employers Should Know About the COVID Vaccine

February 25, 2021

The COVID-19 vaccine is providing many employers with the hope that things may soon return to normal—or as normal as can be considering a year-plus long pandemic. The vaccine certainly provides a glimmer of light at the end of the tunnel, but there are few things employers should consider while planning how to best protect their employees.

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

House Passes Bill to Address Commuter Tax Issues

February 24, 2021

House Bill 6513 (HB 6513), An Act Mitigating Adverse Tax Consequences Resulting From Employees Working Remotely During Covid-19, and Concerning The Removal Of Liens On The Property Of Public Assistance Beneficiaries And Three-Tiered Grants In Lieu Of Taxes Program, passed the House today and is expected to pass the Senate later this week or early next week.

  • business and industry
  • advocacy - state
  • coronavirus
  • state tax