News

IRS Commissioner Charles Rettig updated members of the Senate Finance Committee Thursday on the Service's performance in the soon-to-be-concluded tax filing season, as well as longer-term assessments of its efforts to modernize its operations, fill staffing gaps, and improve taxpayer service and enforcement.

Harper & Whitfield is fortunate to have Becky join the leadership team and continue as an integral part of its forward-thinking and success for years to come. The firm recognizes the dedication and hard work that Becky has consistently demonstrated, while providing excellent client service, managing the completion of numerous important internal administrative projects, and serving as a go-to resource throughout the firm.

By Jim Norton, CPA, GRF CPAs & Advisors Budgeting. Planning. Budgeting and planning. Financial planning and analysis. FP&A. Projections. Models. Forecasts. Pro formas. These are just a handful of terms that are often used interchangeably when talking about the process of analyzing an organization’s financial position. The buzz phrase that seems to resonate most with people lately is financial planning and analysis, or FP&A.

As part of ongoing efforts to provide additional help for people during this period, the IRS announced today the suspension of more than a dozen additional letters, including the mailing of automated collection notices normally issued when a taxpayer owes additional tax, and the IRS has no record of a taxpayer filing a tax return.

The IRS announced Wednesday in a news release the letters and notices it will not send taxpayers as it works through its backlog of unprocessed prior-year returns.

The Internal Revenue Service has a brutal backlog of unfinished tax returns from last year, which has triggered more tax-time anxiety than one could imagine for many tax filers.

Janet Phillips, a Professor of Accounting at Southern Connecticut State University, wrote the PRJ article “An Examination of the Relationship Between the Funded Status of Defined Benefit Pension Plans and the Financial Condition of Sponsoring Organizations-Public vs. Private Sector.” The article is published in Journal of Accounting Ethics and Public Policy .23(1).

Southington firm Daigle, Smith & Chubet expanded its tax, accounting, and advisory services through its merger with Mugford & DiBella, LLC, of New Britain.

The Connecticut Society of CPAs (CTCPA) recently honored seven outstanding women during the January CTCPA Women Awards virtual celebration recognizing excellence in leadership and management in the accounting profession.

Librizzi, an Assurance Senior Manager in EY’s Financial Services Office in Hartford, was one of seven women honored during the January virtual celebration recognizing excellence in leadership and management in the accounting profession.

Belfi, the Director of Financial Regulation at the Connecticut Insurance Department, was one of seven women honored during the January virtual celebration recognizing excellence in leadership and management in the accounting profession.

Ortuso, a Partner – Tax at KPMG LLP, was one of seven women honored during the January virtual celebration recognizing excellence in leadership and management in the accounting profession.

Wills, a Partner at Whittlesey in Hartford, was one of seven women honored during the January virtual celebration recognizing excellence in leadership and management in the accounting profession.

Lewis joined the Financial Accounting Standards Board (FASB) in Norwalk as a practice fellow in September 2020. She is a senior manager in Deloitte & Touche LLP’s Audit and Assurance practice in Stamford, specializing in the banking and securities industries.

A Partner with CironeFriedberg, LLP in Shelton, Callanan has more than 35 years of accounting, audit, and tax experience.

Jackson, a senior audit partner at KPMG Hartford, was one of seven women honored during the January virtual celebration recognizing excellence in leadership and management in the accounting profession.

Greg LaCasse joined the Firm in 2017 and has more than 25 years of experience in public and private accounting, including Big 4 experience and four years in the private sector, serving as the Chief Financial Officer for an international retail and consumer goods IT consulting firm.

Another year has come to a close, and a new one starts. Trends and countless surveys are showing that forcing a return to 100% in-office work will not bode well for organizations. “The great resignation” is happening in part because talented team members know that they can find employee-first organizations who understand there’s no reason to force them into an office when their work can be performed just fine (in some cases, better) remotely.

Meet Joel Black, Chair of the Governmental Accounting Standards Board and Richard Jones, Chair of the Financial Accounting Standards Board.

She has more than 20 years of both public and private industry experience providing a variety of professional services including audit, annual compliance, internal control system reviews and attest engagements.