News

The two-year, $55.8 billion budget that passed out of the Connecticut House of Representatives on a mostly party-line vote late Monday night remains within the state budget cap despite increasing spending by $2.63 billion over the next two fiscal years.

New estimated data from the National Student Clearinghouse Research Center shows a 12% increase in spring 2025 undergraduate accounting enrollment compared to the prior year. The increase amounted to an additional 29,312 students.

Lawmakers expected to adopt new biennial plan before the 2025 legislative session closes Wednesday.

Find out what the next leap in the evolution of artificial intelligence is and how it may affect the way accountants do their job.

Following its continued opposition to the severe limitations on the deductibility of state and local tax (SALT) for specified service trades or businesses (SSTBs) included in recent tax legislation passed by the House of Representatives, the American Institute of CPAs (AICPA) sent a second letter to leadership of the Senate Finance and House Ways & Means Committees urging modifications to troubling tax proposals in the One Big Beautiful Bill Act passed by the House and being considered by the Senate.

The Connecticut House of Representatives on Friday debated and approved Senate Bill 8, An Act Concerning Protections For Workers and Enhancements to Workers’ Rights, a labor bill that would allow workers engaged in labor disputes to access unemployment benefits.

The decision to make non-audit CPAs stop using the credential may be less of a private equity strategy and more of a compliance response to regulatory structures.

The bill passed in the Connecticut House of Representatives with no opposition on April 28 and the Senate on May 29 and will now move to be signed by Governor Lamont.

The Internal Revenue Service today issued its annual Data Book detailing the agency's activities during fiscal year 2024 (Oct. 1, 2023 – Sept. 30, 2024). This year’s edition marks the publication’s 30-year anniversary; the first Data Book covered fiscal years 1993 and 1994 and was available in 1995. Prior to 1993, the IRS published annual reports, which date back to 1863. The Data Book provides a fiscal year statistical overview of the agency’s operations including returns received, revenue collected, taxpayer services provided, tax returns examined (audits), efforts to collect unpaid taxes and other details about the work of the IRS.

Lamont challenges lawmakers to tap $1.1 billion that universities stashed away.

The Financial Accounting Foundation (FAF) Board of Trustees today announced the search for a new member of the Governmental Accounting Standards Board (GASB). The seven-member, part-time Board will have an open seat beginning on July 1, 2026, when Jeff Previdi completes his second term on June 30, 2026.

Governor Ned Lamont today announced that he is releasing $30 million in state grants to 46 small towns in Connecticut that will be used to complete a wide variety of infrastructure improvements, such as road safety reconstruction projects, emergency management upgrades, sidewalk and pedestrian safety enhancements, educational and recreational facility upgrades, and other kinds of capital improvement projects.

The state legislature is eyeing a fiscal tactic not seen in half a century to deal with state budget uncertainty. House Speaker Matt Ritter, D-Hartford, said Wednesday morning that a one-year budget was “very much in play” and looking “more and more likely.”

A higher percentage of AICPA members got questions answered quickly by the IRS Practitioner Priority Service (PPS) line during the 2025 tax filing season, according to an annual survey, but they have concerns about the future of the IRS.

AI’s impact on finance will continue to deepen, but large staffing cuts are an unlikely result, according to a new Vena Solutions report.

Costs displace talent management as the top benefits decision driver, according to new Lockton research.

One GOP lawmaker got a rare unanimous vote against his amendment after trying a unique political tactic.

Leaders hope to offer $150 per child, up to $450 per household.

If you possess the skill, smarts, and persistence to become a licensed CPA, that should be something to celebrate and declare in your business dealings.

An American Institute of CPAs (AICPA) survey found that women indicated more concerned about their financial situation over the past 12 months than men. The survey was conducted April 1-3 among over 2,000 U.S. adults as a kickoff to National Financial Literacy Month.