News

Employees are struggling to develop at work, and some fear being left behind by innovation.

The AICPA on Thursday sent a letter to the IRS with recommendations to two areas of new instructions to Form 8971, Information Regarding Beneficiaries Acquiring Property From a Decedent. The AICPA understands that Treasury and the IRS are considering updating the form instructions for the final regulations.

Republicans in the Connecticut House of Representatives presented an alternate two-year state budget Thursday that caucus members called a “Reality Check” and said would reduce the size of state government by about $600 million.

The maximum contribution amounts for a health savings account (HSA) and certain related benchmarks will be slightly higher next year.

Will GOP offer real solutions to big problems? Will Democrats listen if they do?

It’s not common to have legislation proposed that no one speaks against. That’s the case, however, for House Bill 7020, which would offer more flexibility for state residents to become certified public accountants.

Gian-Carl Casa, president and CEO of the CT Community Nonprofit Alliance, and Rep. Jillian Gilchrest, D-West Hartford, were joined at the Legislative Office Building by representatives from some of Connecticut’s largest nonprofit organizations. They said the state must protect essential services that support residents struggling with mental illness, addiction, disability, homelessness, and reentry from incarceration.

But it’s unclear whether officials will tap $2.3 billion windfall to mitigate cuts in federal aid.

The House Financial Services Committee passed a budget bill Wednesday that eliminates the Public Company Accounting Oversight Board and caps the Consumer Financial Protection Bureau's budget at roughly $249 million, a drastic reduction from its recent budgets.

The perceptions held by high school and early college students about accounting are trending in a positive direction, positioning the profession for an opportunity to continue strengthening the talent pipeline.

AICPA leadership is monitoring a legislative proposal that would defund the PCAOB, saying in a statement Monday that it “is committed to supporting the drivers of audit quality.”

The Trump administration’s tariffs have directly impacted several Connecticut businesses relying on motors, batteries, magnets, and rubber goods imported from China, according to data submitted through the state’s Federal Impact Reporting portal launched earlier this month.

As the class of 2025 prepares to enter the workforce, new research from talent solutions and business consulting firm Robert Half highlights the challenges faced by early-career professionals and the strategies to overcome them.

Many private schools across Connecticut object to a bill to eliminate tax exemptions for faculty and staff housing for private secondary schools, saying they already contribute to the towns where they're located and this could affect their operations.

Bringing someone new onto the team is more than just handling forms and saying hello. It's your first real opportunity to show them what it means to be part of your organization — and to lay the groundwork for their long-term success and sense of belonging.

A merger of top-15 accounting firms Baker Tilly and Moss Adams will create the nation’s sixth-largest advisory CPA firm.

Forbes recently released the inaugural America’s Best-In-State CPAs list. Created exclusively by Forbes editorial staff, it is a compilation of the finest CPAs active in public practice, culled from a collection of candidates sourced through independent nominations and recognitions from numerous associations of CPAs. Those nominated were rated on a range of weighted criteria, including expertise, innovation, thought leadership, experience, and service to the community and to their profession.

Faced with a slumping economy and likely big cuts in federal aid, state legislators are once again weighing whether to turn delinquent taxpayers over to collection agencies — and block renewal of their driver’s licenses or vehicle registrations.

Gitlin & Company has promoted Evan Vold, CPA, MSAT, EA to Partner/Member. He brings more than 15 years of experience in tax representation, preparation, and planning, serving both individuals and business with exceptional professionalism and care. He is dedicated to professional growth and community involvement. He serves as the volunteer Treasurer of his Church and is an active member of his Rotary Club.

Governor Ned Lamont announced that he is encouraging businesses, nonprofits, and municipalities in Connecticut that have been impacted by recent actions from the federal government to report that information to the state so that it can be compiled into a central database and provide state policymakers with a better understanding of how these directives are affecting various groups, geographical regions, and sectors of the economy.