News

The board published an exposure draft to update the IFRS for SMEs Accounting Standard — with a six-month comment period.

The Internal Revenue Service's continuing backlog is having an impact in many areas, including the processing of noncorporate applications for refund claims on net operating losses by pass-through businesses, leading to millions of dollars in interest payments.

In March, CT officials said initial results would be released within weeks.

Whittlesey is pleased to be recognized again as a Top 200 Accounting Firm in the country by INSIDE Public Accounting (IPA) for 2022. Whittlesey is the only Connecticut-based firm to make the Top 200 List.

For anyone who doubted, the data is in. The Great Resignation is real and it’s happening. The U.S. Department of Labor reports that during the months of April, May, and June 2021 a total of 11.5 million workers quit their jobs. And it’s not over. According to Gallup research, 48 percent of employees are actively looking to make a change, and according to Personio research, nearly 1:4 will do so in the next six months.

While the AICPA said it welcomes the IRS's recent grant of automatic penalty relief for failure to file a broad range of tax and information returns for 2019 and 2020, it requested that the IRS expand, modify, and clarify the scope of that relief, as well as extend the relief deadline from Sept. 30 to Dec. 31.

After a little bit of a rocky start, the Connecticut Paid Leave Authority released data Friday that shows claims decisions are being made on average within eight days. That’s two days better than at the start of the program.

A $150,000 loan from the U.S. Small Business Administration helped New Britain’s Crystal Ballroom survive months of a government-mandated shutdown during the COVID-19 quarantines.

Knight Rolleri Sheppard CPAS, LLP has changed to Rolleri & Sheppard CPAS, LLP. The firm remains located at 2150 Post Road 5th Floor in Fairfield.

SEC chair Gary Gensler is calling on cryptoasset entities to register with the agency under current securities laws while referencing the possibility of new legislation.

Any way you slice it, recently announced student loan relief measures will positively impact the lives — and the wallets — of Americans struggling to pay for their education long after graduation.

The Internal Revenue Service has been slow in processing employer tax credits and tax refunds that businesses were supposed to receive to cope with the pandemic, according to a new report.

Women are steadily chipping away at the glass ceiling with a little help from male allies.

Interest in the new $1,000 pandemic bonuses that state officials dangled before essential, private-sector workers this spring is more than eight times the program’s maximum capacity to issue full grants.

CohnReznick recently announced several Connecticut promotions, including the following CTCPA members:

The Internal Revenue Service mistakenly posted information from approximately 120,000 individuals on its website before discovering the error on Aug. 26 and taking it down.

The FRC has issued a report to address how boards and executives can enhance the ways ESG data is collected and used.

Finance executives are playing a dicey game of shoring up their companies’ workforces in an era of high employment and runaway inflation.

Every employee, every workday, makes a decision: Are they only willing to do the minimum work necessary to keep their job? Or are they willing to put more of their energy and effort into their work?

The recently passed Inflation Reduction Act of 2022 did not include an extension of the expanded child tax credit provision, which was enacted under the Biden Administration’s American Rescue Plan for 2021 federal tax returns. However, all is not lost… the federal child tax credit is still available to families for tax year 2022 and thereafter, albeit, under the “old” tax law rules that existed prior to the enactment of the American Rescue Plan.