News

GASB on Monday issued Implementation Guidance Update — 2025, a guide updated for the first time in nearly two years that features questions and answers addressing how to apply GAAP to a variety of GASB standards.

The Governmental Accounting Standards Board is juggling a variety of projects to improve accounting for state and local governments as they come under pressure from the threat of reduced funding from the federal government.

A controversial housing bill intended to address the shortage and high cost of housing in the state will not become law, Gov. Ned Lamont announced Monday.

Billy Long was sworn in as the 51st Commissioner of the Internal Revenue Service on June 16. Long was confirmed by the Senate on June 12.

This spring, several Connecticut residents graduated from the 2025 class of the Connecticut Professionals' Leadership Academy, a program designed to strengthen leadership skills, develop and build relationships, and create a collaborative professional services community. This landmark program brings together professionals from various industries and backgrounds, including accounting and finance, law, insurance and architecture.

President Donald Trump's tax-and-spending agenda is nearing a climactic vote in the Senate this week in the wake of air strikes on Iran, which risk embroiling the U.S. in a prolonged Middle East conflict.

The Senate rules-keeper has decided that Republicans can't use President Donald Trump's multitrillion-dollar tax bill to strip all funding from the Consumer Financial Protection Bureau and to cut salaries for many Federal Reserve employees.

The Senate parliamentarian’s office ruled that a provision in the One Big Beautiful Bill Act to defund the PCAOB and transfer its activities to the SEC isn’t permissible.

For several weeks, the American Institute of CPAs (AICPA), along with various other stakeholders, have raised concerns over proposals to eliminate the pass-through entity tax (PTET) state and local tax (SALT) deduction for specified service trades or businesses (SSTBs). Following the release of the reconciliation bill by the Senate, the AICPA has identified several provisions it supports.

As companies strive to stay nimble and deliver on critical business initiatives, new research from talent solutions and business consulting firm Robert Half shows that hiring is becoming increasingly time-consuming—and costly. In a survey of more than 2,200 U.S. hiring managers, nearly all (93%) said the hiring process takes longer now than it did just two years ago.

A click on a link in an email that could have brought down Catharine Drake Madeley’s CPA firm instead caused 40 clients whose tax information was exposed in a data breach to think of her and her staff even more as trusted advisers.

President Donald Trump expressed optimism that lawmakers could reach a compromise on the state and local tax deduction — a sticking point in his "One Big Beautiful Bill" — even as a key SALT advocate insisted a deal had already been reached.

The world is evolving at an unprecedented pace. New technologies are emerging, innovative business models are reshaping our landscape, and expectations for finance professionals are soaring. In this dynamic environment, it’s crucial to think bigger and lead with confidence. That’s precisely why we’ve created the Northeast Finance and Accounting Convention – and you and your team should be there!

Mark was recognized for his outstanding leadership in shaping the future of business leaders through his inspirational seminars and workforce development.

The Senate Finance Committee on Monday released its version of proposed tax provisions to be included in the budget reconciliation bill being considered by Congress. The House of Representatives passed its version of the bill, H.R. 1, known as the One Big Beautiful Bill Act, in May. The Senate is considering its own version of the bill, which has to meet certain criteria to be exempt from the Senate’s filibuster rules and therefore eligible to be passed on a majority vote.

The AICPA recommended 183 changes to the IRS’s 2025–2026 Priority Guidance Plan and also encouraged the agency to continue to pursue tax simplification.

Leaders say saving rules likely to evolve as federal aid shrinks.

Over six dozen Connecticut laws, including the state’s next budget and bond package, will wholly or partially take effect on July 1.

The One Big Beautiful Bill Act, as passed by the House and whose revised text was released Monday by Republicans on the Senate Finance Committee, includes a number of significant tax provisions for both corporate taxpayers and nonprofits.

New York’s accounting policy advisors secured two legislative wins this week, with CPA licensing reform and e-signature expansion both passing in the same session.