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Major Changes to Connecticut Paid Sick Leave Begin January 1, 2025

October 10, 2024

The new Connecticut Paid Sick Leave Act is shaking things up significantly. If you’re an employer in Connecticut, here’s what you need to know – including a few potential pitfalls to avoid.

  • business and industry
  • practice management
  • advocacy - state

AI promises more efficiency but won’t replace auditors

October 09, 2024

More than half of finance leaders believe technology will improve audit quality, but the human element is irreplaceable.

  • accounting and auditing
  • practice management
  • technology and cybersecurity

KPMG US chief calls for urgent reform to halt slide in accounting ranks

October 09, 2024

Fewer US students are taking up accountancy, and 75% of CPAs are near retirement.

  • business and industry
  • practice management
  • advocacy - federal
  • pipeline

TIGTA says IRS should review $42 billion in ERC claims

October 09, 2024

In its attempt to speed processing of employee retention credit (ERC) claims, the IRS changed its policy for pre-refund examinations and should consider reviewing nearly 185,000 claims totaling almost $42 billion, the Treasury Inspector General for Tax Administration (TIGTA) said in a recent report (TIGTA Rep't No. 2024-400-068 (Sept. 30, 2024)).

  • business and industry
  • practice management
  • federal tax

How CFOs can monetize AI for financial growth

October 08, 2024

By leveraging artificial intelligence’s ability to deliver actionable insights on market trends, CFOs can unlock new growth avenues for their companies.

  • business and industry
  • technology and cybersecurity

How will AI shape the practice of tomorrow?

October 07, 2024

AI tools will help to transform practices over the next few years, but what exactly will the impact be and how can you get started?

  • practice management
  • technology and cybersecurity

Proposals Released on Additional Pathway to CPA Licensure, Changes to Uniform Accountancy Act (UAA) Model Rules

October 07, 2024

The American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have issued two important exposure drafts related to the CPA pipeline and licensure: Exposure Draft: Competency-Based Experience Pathway Comments due by December 6 Exposure Draft: Proposed Amendments to the UAA Model Act and Rules Comments due by December 30

  • career resources
  • practice management
  • advocacy - federal

Video Recording: Learn about the CPA Exam and Discipline Exam Sections

October 07, 2024

Thousands of candidates attended the latest AICPA/NASBA webinar on Navigating the CPA Exam. In case you missed it, you can view the webinar in its entirety.

  • career resources
  • pipeline

‘Majority moves’ in tech: Finance leaders reveal popular practices

October 07, 2024

A large majority of finance leaders have been tasked with new responsibilities in 2024. Not surprisingly, many of those responsibilities revolve around technology.

  • business and industry
  • technology and cybersecurity

IRS Direct File set to expand availability in a dozen new states, cover wider range of tax situations for 2025 filing season

October 03, 2024

The Internal Revenue Service announced today that Direct File will be available in double the number of states than last year's pilot.

  • federal tax

IRS provides Helene relief; AICPA seeks BOI, FBAR filing extensions

October 03, 2024

The IRS announced relief for taxpayers in all or part of seven states that Hurricane Helene damaged (IR-2024-253). The AICPA, which requested IRS relief in a comment letter, on Thursday also requested filing extensions from the Financial Crimes Enforcement Network (FinCEN) related to the filing of beneficial ownership information (BOI) and reports of foreign bank and financial accounts (FBAR) for major disaster victims.

  • business and industry
  • practice management
  • advocacy - federal
  • federal tax
  • boi

Treasury and IRS issue guidance on long-term, part-time employees in 403(b) retirement plans and announce delayed applicability date for related final 401(k) regulation

October 03, 2024

The Department of the Treasury and the Internal Revenue Service today issued guidance addressing long-term, part-time employees in 403(b) retirement plans under the SECURE 2.0 Act, which applies to 403(b) plans beginning in 2025. These plans are similar to 401(k) plans but are generally for employees of charities and public schools.

  • personal financial planning
  • federal tax

Decline in audit firm numbers continues

October 02, 2024

The number of firms registered to carry out statutory audit work in the UK and Ireland has dropped again and is close to dipping below the 4,000 mark.

  • accounting and auditing

Just 46% of employees rate their mental health at work as “very good” or better

October 02, 2024

Managers and workers have differing views of mental health in the workplace.

  • business and industry
  • career resources
  • practice management

Policy groups urge CT to intensify saving to end pension debt

October 02, 2024

Conservative think-tanks say CT’s children could be spared billions in legacy debt.

  • advocacy - state

CFO succession planning: Tips for exiting your company the right way

October 01, 2024

Three C-suite executives offer advice on how to seamlessly transition chief financial officer duties to a successor.

  • business and industry
  • emergency assistance and practice continuation

Key skills for CPAs in business and industry

October 01, 2024

Leaders from corporate finance and the profession share their advice for upskilling and reskilling for the next era of management accounting.

  • business and industry

New Data Privacy Protections Lead List Of New Laws Taking Effect Today

October 01, 2024

A raft of changes to how Connecticut law protects sensitive medical information, minors from online threats, and misuse of social media lead a group of dozens of new laws that take effect today.

  • advocacy - state

PCAOB inspectors offer advice in areas of risk

October 01, 2024

PCAOB inspectors repeatedly noted the value of using experts in a report focused on emerging areas of risks in public company audits.

  • accounting and auditing

Tax planning for the SALT cap

October 01, 2024

Taxpayers can employ several strategies in the face of limited deductibility of state and local taxes through 2025 and perhaps beyond.

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