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The Internal Revenue Service is expected to soon restart mailing out the automated collection notices that it paused last year while it tried to catch up on its backlog of unprocessed tax returns.

A pair of lawmakers proposed bipartisan legislation to streamline the tax filing extension process.

The U.S. Supreme Court has handed a victory to the Internal Revenue Service regarding its authority to issue summonses, deciding unanimously to split in circuit court decisions on when the agency must give notice to third-party recordkeepers.

Half of Gen Z and Millennial workforces say they live paycheque to paycheque, and many had to take on a second job due to financial concerns.

Data from CFO surveys identifies four trends that finance leaders need to address before the second half of the year.

President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement Monday on how to raise the U.S. government's $31.4 trillion debt ceiling with just 10 days before a possible default that could sink the U.S. economy, but vowed to keep talking.

The American Institute of CPAs (AICPA) joined a coalition of organizations who have come together to make taxpayers and practitioners aware of the new Beneficial Ownership Information (BOI) reporting requirement. BOI is an anti-money laundering initiative enacted through the Corporate Transparency Act (CTA) in 2021, which mandates that BOI information is reported to the Financial Crimes Enforcement Network (FinCEN).

Massachusetts is facing similar cost and demographic challenges as Connecticut is; this report presents a number of charts delineating some of these issues.

On May 10, exactly three years and two months after Gov. Ned Lamont declared a public health emergency in response to the COVID-19 pandemic, he declared it over.

Inmates serving time for cannabis possession could soon be able to get their sentences reduced thanks to a bill that passed the House of Representatives Thursday.

Those unsatisfied with the next state budget should remember it features a built-in cushion topping $300 million, which could be tapped if approved spending proves to be too lean, House Speaker Matt Ritter, D-Hartford, said Thursday.

The SEC proposed rule amendments and a new rule Wednesday that would require clearinghouses to enhance their risk management and recovery planning.

The Senate voted Thursday to expand Connecticut’s 2011 paid sick day law to employees of smaller businesses by eliminating a provision of the current law which exempted employers with fewer than 50 workers.

The AICPA released an expanded plan Thursday focused on boosting the profession's talent pipeline. The detailed plan features input from a significant set of stakeholders and calls for those stakeholders to work together to increase the number of accounting graduates and the number of graduates who obtain CPA licensure.

Inflation-adjusted amounts for health savings accounts are headed up — and up — again.

A midnight rummage through your refrigerator won't result in the discovery of something manufactured by Southwire alongside your favorite brand of cheese, but that cheese might not smell so appetizing without Southwire.

The IRS will review its processes to make sure it does not audit Black taxpayers at higher rates than others and will make any changes before the next filing season, the IRS commissioner said Monday in response to a university study that showed racial differences in audit rates.

The Internal Revenue Service submitted a report today to Congress evaluating a Direct File option for taxpayers and is taking steps to begin a pilot project for the 2024 filing season following a directive from the Treasury Department.

The Internal Revenue Service is reportedly planning to try out its own direct-file tax software with a limited group of taxpayers by next tax season.

CTCPA Announced its Accounting Scholarship Foundation's (ASF) scholarship winners and will hold a Recognition Reception for those individuals on Thursday, June 1.