News

The state legislature is eyeing a fiscal tactic not seen in half a century to deal with state budget uncertainty. House Speaker Matt Ritter, D-Hartford, said Wednesday morning that a one-year budget was “very much in play” and looking “more and more likely.”

AI’s impact on finance will continue to deepen, but large staffing cuts are an unlikely result, according to a new Vena Solutions report.

A higher percentage of AICPA members got questions answered quickly by the IRS Practitioner Priority Service (PPS) line during the 2025 tax filing season, according to an annual survey, but they have concerns about the future of the IRS.

Costs displace talent management as the top benefits decision driver, according to new Lockton research.

Leaders hope to offer $150 per child, up to $450 per household.

One GOP lawmaker got a rare unanimous vote against his amendment after trying a unique political tactic.

If you possess the skill, smarts, and persistence to become a licensed CPA, that should be something to celebrate and declare in your business dealings.

An American Institute of CPAs (AICPA) survey found that women indicated more concerned about their financial situation over the past 12 months than men. The survey was conducted April 1-3 among over 2,000 U.S. adults as a kickoff to National Financial Literacy Month.

Medicaid, social services, special ed increases will be modest.

Five years from now, Generation Z and Millennial employees are expected to comprise more than 70% of the global workforce.

The U.S. House of Representatives passed changes for the federal deduction for state and local taxes (SALT) on Thursday, May 22 as part of President Trump’s tax package. Originally enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA), there is currently a $10,000 limit on the SALT deduction. Under the House provision that would take effect in 2025, the SALT cap would rise to $40,000 and phase out for individuals with income over $250,000 and couples over $500,000. Both the SALT cap and the income phaseout would increase by 1% annually from 2026 through 2033.

Danny Pannese, Associate Professor (Accounting and Information Systems) at Sacred Heart University, will be honored with the Connecticut Society of CPA’s Educator of Excellence Award (the “Eddy”) at the CTCPA Recognition Reception on June 10.

The House of Representatives approved an amended version of the budget reconciliation bill Thursday morning, sending it to the Senate for consideration. The bill, H.R. 1, known as the One Big Beautiful Bill Act, passed by a vote of 215 in favor, 214 opposed, with one member voting present.

The AICPA outlined its concerns to Congress about provisions in the tax bill that could hurt the accounting profession, including a section that allows long-debated contingent fees that it described as “an open invitation to unscrupulous tax preparers.”

A new PCAOB publication – “Audit Focus: Auditing Accounting Estimates” – provides auditors with reminders and good practices about accounting estimates, an especially challenging aspect of financial statements.

After 34 years of service, Michael Solakian, CPA, President of Solakian & Company, LLC, is stepping down from the CTCPA Peer Review Committee. Mike also served on the AICPA Peer Review Board for two three-year terms and continues to practice with specialties in non-profit audits as well as performing peer reviews.

The Southern Connecticut State University (SCSU) School of Business recently recognized CTCPA Honorary Member Mark Zampino with its Exceptional Staff Service Award and the Dean’s Outstanding Leadership Team Award. The School presented the awards at its Annual Awards Ceremony on May 8, 2025.

The Connecticut Society of Certified Public Accountants (CTCPA) has elected and installed its Board of Directors for the 2025-2026 activity year at its Annual Meeting held at the Sheraton Hartford South Hotel in Rocky Hill on May 14.

The Connecticut Society of Certified Public Accountants (CTCPA) honored Mike Maksymiw, Jr., CPA of Aprio Firm Alliance with the 2025 Jack Brooks Leadership Award at the CTCPA Annual Meeting held at the Sheraton Hartford South Hotel in Rocky Hill on May 14.

The Connecticut Society of Certified Public Accountants (CTCPA) honored the recipients of its first-ever CTCPA Impact Award at the CTCPA 2025 Annual Meeting held at the Sheraton Hartford South Hotel in Rocky Hill on May 14.