News

Treasury and the IRS issued proposed regulations addressing certain SECURE 2.0 Act provisions, including a provision that would require most newly established 401(k) and 403(b) plans to automatically enroll eligible employees beginning with the 2025 plan year.

The Department of the Treasury and the Internal Revenue Service today issued proposed regulations for corporate separations and reorganizations, including reporting requirements for multi-year corporate separations.

Gallup research recently found that half of U.S. employees report that they're thriving in their lives at work and at home, but the findings shouldn't be construed as a case of the glass being half full.

The Connecticut General Assembly kicked off its 2025 legislative session Wednesday, and lawmakers got to work quickly. Within the first 24 hours a flurry of proposed legislation was filed, ranging from authorizing a limited black bear hunting season to establishing a cybersecurity task force.

The Internal Revenue Service today announced that the nation’s 2025 tax season will start on Monday, Jan. 27, 2025, and will feature expanded and enhanced tools to help taxpayers as a result of the agency’s historic modernization efforts.

Finance leaders have a multifaceted role in building and funding cyber defences, including creating and testing an incident response plan.

The Department of the Treasury and the Internal Revenue Service issued proposed regulations today addressing several SECURE 2.0 Act provisions relating to catch-up contributions, which are additional contributions under a 401(k) or similar workplace retirement plan that generally are allowed with respect to employees who are age 50 or older.

The move puts the Buckeye state at the forefront of the recent drive to address the talent shortage by widening on-ramps into the accounting profession.

In speech to kick off General Assembly session, Lamont will offer suggestions to open discussion with lawmakers.

Top 20 firm Citrin Cooperman announced Tuesday its second recent ownership shift orchestrated by private equity.

The last time plans were at least 100% funded was before the 2008 financial crisis.

The Innovative CPA Group (ICG) is pleased to announce its merger with T.M. Byxbee Company, P.C. of Hamden, CT. Effective January 1, 2025, the combined firm will operate under the name “The Innovative CPA Group, LLC,” creating a unified team to deliver an expanded suite of accounting, tax, audit, advisory, and consulting services.

The Internal Revenue Service announced today that the IRS Free File Guided Tax Software will be available Friday for taxpayers ahead of the official start of tax season later this month.

The Treasury Department and the Internal Revenue Service have proposed amendments to Circular 230, which governs practice before the IRS. The amendments are the most extensive since 2014 and cover significant developments that have affected practice before the service since that time.

Treasurer wants ongoing plan to retire debt early.

Forward-thinking CFOs should focus on these essential skills to build a future-proof, high-performing finance team.

On Wednesday, the Connecticut General Assembly will convene for its 2025 legislative session, which will run through June 4 at midnight.

The Financial Accounting Standards Board (FASB) today published an Accounting Standards Update that clarifies for non-calendar year-end entities the interim effective date of Accounting Standards Update No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. Public business entities are required to adopt the guidance in Update 2024-03 in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027.

Jay Civitollo and Christopher Nardone were both elected partner at CohnReznick LLP, effected February 1, 2025. Both Jay and Christopher work in the Assurance division.

The Justice Department (DOJ) filed an emergency application with the Supreme Court asking it to stay the district court injunction that is preventing the government from enforcing the Corporate Transparency Act and its requirements to report beneficial ownership information (BOI).