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FTC to ban noncompetes

April 24, 2024

Existing noncompetes with senior executives — those who earn more than $151,164 annually and who are in a “policy-making position” — may remain in force.

  • business and industry
  • practice management
  • advocacy - federal

Feds ban non-compete clauses as CT reconsiders bill to limit them

April 24, 2024

Because of expected legal challenges, proponents of the ban are pushing for state and federal laws to place limits on non-competes

  • business and industry
  • practice management
  • advocacy - state

Senate Democrats pass AI bill over Lamont’s objections

April 24, 2024

The Senate Democratic majority defied Gov. Ned Lamont Wednesday night by passing a complex bill intended to put Connecticut at the forefront of evolving national efforts to set standards for the development and use of artificial intelligence.

  • technology and cybersecurity
  • advocacy - state

5 Time-saving strategies for CFOs to unlock greater potential

April 23, 2024

CFOs need to free up the time needed to ably execute on both strategic and tactical levels, according to McKinsey.

  • business and industry

Draft of Form 1099-DA for reporting digital asset transactions released

April 23, 2024

The IRS, in its release of the draft of the Form 1099-DA for brokers to report digital asset transactions, includes the broad definition of "broker" used in proposed regulations that drew industry ire when issued in 2023.

  • federal tax

Amended AI Bill Moves Forward Amid Industry Opposition

April 22, 2024

Senate Democrats on Monday urged the passage of an amended bill that starts to regulate artificial intelligence as the Judiciary Committee approved the bill and sent it back to the Senate floor.

  • technology and cybersecurity
  • advocacy - state

CT AI bill would set standards, but Lamont remains wary

April 22, 2024

Senate Democrats said Monday they are narrowing a groundbreaking proposal to set standards for the development and use of artificial intelligence in Connecticut, an effort to address Gov. Ned Lamont’s skepticism over a small state playing an outsized role in shaping technology.

  • technology and cybersecurity
  • advocacy - state

CT officials insist tax cuts will remain as pandemic relief expires

April 22, 2024

Many states offered big relief in early 2020s as ARPA funds cushioned budgets.

  • advocacy - state

IRS has mixed results from ‘ghost employer’ enforcement efforts

April 22, 2024

The IRS's first attempts to rein in abuse by "ghost employers" — those who pay their workers but do not pay employment tax and federal payroll income tax withholding — had some success, and the Service should ramp up its pursuit, the Treasury Inspector General for Tax Administration (TIGTA) said in a recent report. TIGTA says the IRS has difficulty spotting ghost employers because it will have no record of them if they never file returns.

  • federal tax

Tap overlooked tax breaks to help small business owners

April 22, 2024

Financial advisors and tax professionals with small business owner clients should ensure they have considered every possible break that could help the bottom line, according to one expert.

  • practice management
  • federal tax

IRS targets 'ghost employers'

April 19, 2024

The Internal Revenue Service's criminal investigators have been on the lookout for tax evasion by so-called "ghost employers" who don't pay employment taxes, and over 30 cases have been prosecuted in recent years, but the problem is far larger, according to a new report.

  • federal tax

Lamont won’t say if he’ll ease ‘debt diet’ to make CT budget fix work

April 19, 2024

Democratic legislators seek borrowing to avoid cuts in core programs.

  • advocacy - state

Updated FAQs provide details on phase-in timing of BOI access

April 19, 2024

Updated FAQs on beneficial ownership information (BOI) from Treasury's Financial Crimes Enforcement Network (FinCEN) include details on the timing of the phase in of access to BOI under Section 6403 of the Corporate Transparency Act (CTA), P.L. 116-283.

  • business and industry
  • practice management
  • advocacy - federal
  • boi

State Budget Tussle Focused On $300 Million In Additional Spending

April 18, 2024

Democrats say they can find additional money; Republicans say it doesn’t exist.

  • advocacy - state

73% of accounting firms not using AI: Report

April 17, 2024

Slow or non-existent digital transformations, especially around AI integration, is common for accounting firms, according to new data from Rightworks.

  • practice management
  • technology and cybersecurity

More than 4 in 5 large companies still offer flexible work model

April 17, 2024

Headlines can leave the impression that large companies are behind the times when it comes to offering corporate employees work location flexibility, but recent research paints a different picture.

  • business and industry
  • career resources
  • practice management

68% of Gen Z workers would take an unwanted job for good pay: Report

April 15, 2024

Gen Z employees are looking for higher salaries and more work-life balance, according to new research from dcdx.

  • business and industry
  • practice management

Accountants share the top lessons they have learnt

April 15, 2024

It’s always good to look back and see how far you have come and the lessons you’ve learnt. Seasoned accountants on Any Answers have done just that as they share the experience they have gained over the years.

  • career resources

Are CT non-competes enforceable? What to know about state law

April 15, 2024

Non-compete clauses, which can bar an employee from working for a competitor of their employer after leaving their job, have existed in many industries for decades.

  • advocacy - state

IRS delivers strong 2024 tax filing season; expands services for millions of people on phones, in-person and online with expanded funding

April 15, 2024

With the April tax filing deadline here, the Internal Revenue Service highlighted a variety of improvements that dramatically expanded service for millions of taxpayers during the 2024 filing season.

  • federal tax