News

With more than half of UK taxpayers planning to use artificial intelligence tools such as ChatGPT to help with their self assessment tax return, accountants are preparing for a new kind of tax season.

The Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful Bill Act for no tax on tips, overtime, car loan interest and the enhanced deduction for senior citizens.

PEEC welcomes comments on all aspects of these proposed revisions to the code. In addition, PEEC is asking for feedback on the following specific aspects of the revisions...

The 2025 Accounting Talent Index shows a profession under pressure, with the talent shortage continuing to threaten the future of firms.

The Department of the Treasury and the Internal Revenue Service today issued final regulations addressing several SECURE 2.0 Act provisions relating to catch-up contributions. (Catch-up contributions are additional contributions under a 401(k) or similar workplace retirement plan for employees who are age 50 or older.) The final regulations include final rules related to a SECURE 2.0 Act provision requiring that catch-up contributions made by certain higher-income participants be designated as after-tax Roth contributions.

Regarding the skills needed to succeed in accounting and finance roles, less-experienced employees and their managers aren’t on the same spreadsheet.

The National Association of State Boards of Accountancy (NASBA) today announced the launch of its new NASBA CPA Mobile App (App), designed to give CPA Exam candidates a convenient, mobile-friendly way to prepare for, apply to, and stay informed about the Uniform CPA Examination—anytime, anywhere.

On October 1, 2025, major updates to modernize our state’s CPA licensure and mobility laws will take effect. These changes reflect our ongoing efforts to strengthen the CPA pipeline by aligning state laws with the evolving professional landscape and introducing three distinct pathways to licensure.

The Public Company Accounting Oversight Board (PCAOB) announced that it is postponing for one year, to December 15, 2026, the effective date for QC 1000, A Firm’s System of Quality Control, and other new and amended PCAOB standards, rules, and forms adopted by the Board on May 13, 2024. The Board’s action also postpones the related rescission date of certain rules and standards that are currently in force.

HarperWhitfield P.C., with offices in Farmington and Weatogue (Simsbury), announced that Norbert Jurkiewicz of Farmington has joined the firm as a supervisor. Norbert brings more than 12 years of diverse public accounting experience spanning tax, audit, fiduciary services, and client advisory support. Prior to joining HarperWhitfield, he worked as a Senior Associate and Supervisor in Glastonbury, where he led engagements for a wide variety of clients including software companies, engineering firms, medical practices, and government contractors.

Kask & Company LLC, Certified Public Accountants and Business Advisors, announces its new office location at 12 National Drive in Glastonbury, Connecticut. Kask & Company CPAs, previously known as Borgida & Company CPAs, is led by managing partner and industry veteran James Kask, CPA, CGMA. Kask’s previous leadership roles include Senior Partner at CPA firms Haggett Longobardi and CohnReznick.

Accounting — the language of business — is facing a talent crisis. Across the country, fewer students are choosing to major in accounting, and CPA exam participation has dropped sharply. This shrinking pipeline comes at a time when the profession faces a wave of retirements and an increasingly complex business environment. If this trend is not reversed, firms will face critical staffing shortages, investors and creditors will struggle to access timely and reliable information, and regulators will find it more difficult to detect fraud.

SRC Certified Public Accountants, PC, located in Glastonbury , CT, a trusted provider of accounting, tax, and advisory services, is proud to announce its 50th anniversary, marking half a century of dedication to helping clients achieve their financial goals.

There’s a new IRS Senior Stakeholder Liaison in town! (Well, new to CTCPA members, anyway.) Yolanda Durant has actually been with the Internal Revenue Service since 2012, with a resume that runs the gamut of responsibilities: Senior Individual Taxpayer Advisory Specialist, Tax Compliance Officer, Intake Advocate for the Taxpayer Advocate Department, Customer Service, and Collection Representative.

Paul N. Iannone, JD, CPA, MST and Danny A. Pannese, MST, CPA/ABV/CFF, CVA, CSEP, both Associate Professors in the Jack Welch College of Business & Technology at Sacred Heart University, published “When the Audit Goes Beyond the Audit: An Interview with James Mastracchio, Esq.” for the March/April 2025 issue of the Journal of Taxation.

KPMG LLP recently celebrated its Community Impact Day, a nationwide day of service that provides employees of all levels flexible and meaningful ways to come together both in-person and virtually to serve our communities. In Greenwich, KPMG volunteers spent the morning at the Boys & Girls Club of Greenwich (Camp Simmons) leading activities like field games, a paint war, book readings, and more with campers ages 5-12.

Weinstein Spira provides time for study, food for study groups, and a $10,000 bonus for staff who successfully complete the CPA Exam process.

MahoneySabol, a regional certified public accounting firm based in Glastonbury, announced the promotion of Casey O’Brien, CPA to Partner. O’Brien brings nearly two decades of public accounting experience to his new leadership role.

MahoneySabol, a regional certified public accounting firm based in Glastonbury, announced the appointment of Crystal Germanese as a Partner in the firm's Tax Department. With over 20 years of experience working closely with privately held businesses and their owners, Germanese combines deep technical knowledge with a personalized approach to navigating complex tax matters. She brings a wealth of experience and a strong commitment to client care to her new role.

The partners of Glastonbury accounting firm Nicola Yester & Company, P.C. are pleased to announce their newest partner, Angelina Mancarella. Angelina merged with the firm in 2025 as part of a merger with Paquette Mancarella & Company LLC, and focuses her practice on providing tax and accounting services to businesses in a wide variety of industries, including construction, manufacturing, and other professional services.