News

On May 28, 2024, Governor Ned Lamont signed legislation expanding Connecticut’s 2011 Sick Leave Law. The new legislation is effective on January 1st, 2025. The law covers more employees, expands the reasons under which employees may use paid sick leave, and reduces the required hours to accrue paid sick leave.

Next Gen Personal Finance, CT Financial Scholars provide professional development to help schools meet new requirements.

FEMA announced today that federal disaster assistance is available to the state of Connecticut to supplement response efforts due to emergency conditions resulting from severe storms, flooding, landslides and mudslides beginning on Aug. 18, 2024, and continuing.

As artificial intelligence quietly transforms the accounting industry, we look at how it has evolved and the changes it has brought to everyday tasks, with this feature forming part of our special editorial report on the subject, in association with Sage.

Marcum's National Matrimonial and Business Valuation Industry Leader Kenneth J. Pia, Jr. coauthored three chapters in "The Third Edition of Shannon Pratt’s The Lawyer’s Business Valuation Handbook: Understanding Financial Statements, Appraisal Reports, and Expert Testimony," which is being released in August 2024. Ken was also a technical reviewer of the handbook and an active member of the publishing committee.

C-suite leaders in a global survey say generative AI has influenced their business models, improved customer relationships, and cut business costs.

An AICPA letter supported by every state CPA society and numerous other accounting stakeholders asks the Department of Homeland Security (DHS) to add accounting to the department's STEM Designated Degree Program List.

Sacred Heart University accounting professors Paul N. Iannone, Benoit Boyer, and Danny A. Pannese released “Tri-State Accounting Student Insights: A 2023 Regional Survey of Accounting Students on the CPA Exam and the Public Accounting Profession.”

“We are thrilled to announce the advancement of Josh and Beth to partnership in our firm,” said Todd Shelansky, CPA, managing partner of HarperWhitfield, P.C. “Their expertise, dedication, and leadership has been instrumental in providing exceptional service to our clients. We are confident that their continued contributions will drive our success and growth even further,” he added.

The Innovative CPA Group (ICG) is proud to announce that the Immaculate High School Alumni Association has recognized Sal Chieffalo, CPA, as the 2024 Golden Tee Award recipient. This prestigious honor celebrates Sal’s unwavering commitment to the Immaculate community. A proud member of the Class of ‘81, Sal has been actively involved in organizing class reunions and has dedicated his time and expertise to the school board, various committees, and the annual golf outing.

On August 6, KPMG LLP celebrated its nationwide Community Impact Day. In Stamford, KPMG hosted a Book Explore event through KPMG Family for Literacy (KFFL), with the Boys and Girls Club of Stamford (Yerwood Center). KPMG employees guided elementary-aged students through an interactive book reading with printed boards of book pages and fun activities to bring book themes to life. Volunteers helped read the story with the students and handed out donated new books.

CTCPA Executive Director and CEO Bonnie Stewart was appointed to the 2024-2025 Board of Directors of the New England Society of Association Executives (NE/SAE).

The purpose of this publication is to provide guidance as to the scope and application of the credit against the income tax that is set forth in Conn. Gen. Stat. § 12-704c(d). More specifically, given the various legislative amendments surrounding this credit, this publication is intended to both clarify that taxpayers are eligible to claim the credit set forth in Conn. Gen. Stat. § 12-704c(d) in taxable year 2023 and to explain how eligible taxpayers are to claim said credit on income tax returns due for said taxable year.

NPAG’s Accounting Talent Strategy Report explores the latest pipeline data, root causes of the profession’s attrition, potential solutions, and next steps.

The Connecticut Department of Revenue Services will be hosting a virtual webinar on Wednesday, Sept 4, 2024, at 10:00 a.m. to provide a Connecticut Real Estate Conveyance Tax Return (myCTREC – Form OP-236) Tax Overview. Representatives from the Department will give a presentation about Connecticut’s myCTREC and answer frequently asked questions. Please submit any myCTREC questions with the registration form by Wednesday August 28, 2024.

Accounting firm Marcum, which has multiple offices in Connecticut, is being acquired by a publicly traded financial services advisory firm in a deal worth $2.3 billion, the company announced.

The Governmental Accounting Standards Board (GASB) will soon benefit from additional stakeholder perspectives in light of a recent decision by the Trustees of the Financial Accounting Foundation (FAF) to expand the size of the Governmental Accounting Standards Advisory Council (GASAC).

Of all problems the tax and accounting profession faces, staffing seems the most persistent. Older and younger accountants alike are bailing, driven by a sometimes hard combination of perception and reality.

Experience, Learn and Earn (ELE), a program designed to ease attainment of the final 30 hours of the education requirement for CPA licensure, has grown since it began offering online courses last semester.

Entities seeking access to beneficial ownership information (BOI) will spend over 8.7 million hours filling out paperwork in the first year and over 3.6 million in the second year, the Financial Crimes Enforcement Network (FinCEN) said in an estimate Monday.