News

How To Lose A Candidate In 10 (Business) Days

February 11, 2021

Competing for a job in today's market is challenging enough, and new research from global staffing firm Robert Half shows there's another hurdle for candidates to overcome: being breadcrumbed — or strung along — by employers.

  • business and industry
  • career resources
  • practice management

Single audits: Deliver high quality in a challenging time

February 11, 2021

The release of the Office of Management and Budget’s (OMB’s) Compliance Supplement addendum for single audits right before Christmas gave practitioners long-awaited guidance for these specialized audits that are especially complicated because of the surge in government funding related to the coronavirus pandemic.

  • accounting and auditing
  • coronavirus

Surprise tax bills await in pandemic-affected IRS filing season

February 11, 2021

The U.S. federal tax-filing season that begins Friday will be among the most consequential in recent history, as households face potential surprises — both negative and positive — sorting through pandemic-related measures at a time of high unemployment and depressed consumer confidence.

  • coronavirus
  • federal tax
  • personal financial planning
  • state tax

Watch and Read Gov. Ned Lamont's Budget Address

February 10, 2021

This budget address is for the 2022-2023 fiscal year.

  • advocacy - state

Whittlesey Announces New Hires

February 10, 2021

Stacey Curran, CPA, and Zachary DeFeo, CPA, are the latest managers to join the firm’s leadership team.

  • member news

AICPA Applauds Taxpayer Relief in Mobile Workforce Amendment

February 09, 2021

Throughout the pandemic, the American Institute of CPAs (AICPA) has actively advocated for legislation to (a) provide taxpayers relief from inconsistent state and local income tax and withholding rules impacting employees and employers, and (b) create a uniform national standard to simplify and enhance compliance with various state and local tax laws, thereby reducing these burdens.

  • advocacy - federal
  • advocacy - state
  • federal tax
  • practice management

Revenue Services: Online individual income tax filing for Connecticut returns available

February 09, 2021

The Department of Revenue Services (DRS) online Taxpayer Service Center (TSC) is currently accepting and processing Connecticut individual income tax returns. As of last Friday, more than 3,800 state individual income tax returns have been filed, with approximately 3,300 state refunds issued, via the TSC, which is an easy, free, and secure filing and payment option.

  • state tax

Connecticut residents aged 65 to 74 can now schedule COVID-19 vaccine appointments. Here’s how

February 08, 2021

Connecticut is now booking COVID-19 vaccination appointments for residents aged 65 to 74.

  • coronavirus
  • advocacy - state

COVID-19 Regulations Rank as Top Risk for Executives

February 03, 2021

Coronavirus-related government policies and regulations that could affect business performance ranked as the top risk cited by board members and C-suite executives, according to a new survey.

  • business and industry
  • coronavirus

Leveraging Advisory Services to Find D&I Solutions

February 03, 2021

How can D&I be effectively implemented? Jina Etienne suggests a radical new approach: Utilize the same skills you use to make your advisory services successful.

  • diversity
  • practice management

When will everything get back to normal? It won't

February 03, 2021

The changes the pandemic has wrought won’t all simply reverse once Covid is behind us. This phenomenon explains why.

  • business and industry
  • coronavirus
  • practice management

IRS requires corrected information returns for certain SBA loans

February 02, 2021

The IRS instructed lenders that have erroneously filed or furnished Forms 1099-MISC, Miscellaneous Income, reporting certain payments on U.S. Small Business Administration (SBA) subsidized loans as income of the borrower, to file and furnish corrected Forms 1099-MISC that exclude these subsidized loan payments (Announcement 2021-2).

  • coronavirus
  • federal tax

Your Career in the Time of COVID

February 02, 2021

Professional growth looks different now, but with self-reflection, intentionality, and perseverance, you can make progress in these tough times.

  • business and industry
  • career resources
  • coronavirus
  • practice management

Accounting Profession Commemorates Centennial of First Black CPA

February 01, 2021

This year-long effort aims to honor, celebrate, and build upon the progress Black CPAs have made in shaping the accounting profession.

  • diversity

Moving Beyond ‘Survive-at-All-Costs’ Mode

February 01, 2021

Expensive quick fixes are helping companies endure COVID-19 but they are not sustainable over a prolonged period of heightened volatility.

  • business and industry
  • coronavirus

The latest tool in Connecticut to get vaccines to people, or people to vaccines: Uber

February 01, 2021

In what is believed to be a first in the country, Vernon officials have a made a deal with Uber to bring people to vaccine clinics.

  • coronavirus
  • advocacy - state

IRS updates FAQs on paid sick leave credit and family leave credit

January 29, 2021

The Internal Revenue Service today posted updated FAQs about recent legislation that extended and amended tax relief to certain small- and mid-sized employers under the Families First Coronavirus Response Act (FFCRA).

  • coronavirus
  • federal tax

New law increases deduction limit for corporate cash contributions for disaster relief; IRS provides recordkeeping relief

January 29, 2021

The Internal Revenue Service today explained how corporations may qualify for the new 100% limit for disaster relief contributions and offered a temporary waiver of the recordkeeping requirement for corporations otherwise qualifying for the increased limit.

  • business and industry
  • federal tax

SBA aims to expedite PPP loans despite fraud risks

January 27, 2021

The U.S. Small Business Administration is pledging to improve the loan review process for Paycheck Protection Program loans, even as it pursues a record number of fraud complaints.

  • business and industry
  • coronavirus
  • practice management

Lamont to extend COVID emergency until April 20

January 26, 2021

Gov. Ned Lamont informed legislative leaders Monday he will extend from Feb. 9 until April 20 the public health and civil preparedness emergency that gives him sweeping powers to manage the COVID-19 pandemic.

  • state tax
  • advocacy - state