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An IRS notice said employers and other payers will not face penalties for tax year 2025 if they do not provide a separate accounting of amounts reasonably designated as cash tips or the total amount of qualified overtime compensation as required by information-reporting provisions in the sweeping new tax law.

Gen Z wants a seat at the table, but they're evaluating their employers just as much as their employers are evaluating them.

The Department of the Treasury and the Internal Revenue Service today issued guidance providing penalty relief to employers and other payors for tax year 2025 regarding new information reporting requirements for cash tips and qualified overtime compensation under the One, Big, Beautiful Bill.

Democrats racked up wins in municipal elections across the state Tuesday, flipping chief executive seats in Ansonia, Stratford, Milford, and New Britain, and others. All results are unofficial until certified by the Secretary of the State’s office.

Democrats made broad gains Tuesday in Connecticut’s first general election since Donald Trump’s return to the White House, flipping open top-of-ballot seats that had been controlled by Republicans in the Democratic cities of New Britain and Norwich and suburbs of Branford and Westport.

Lawmakers want state funds to shield program

Firms that distinguish themselves as employers of choice offer employees a healthy workplace culture, which helps recruit and retain talent.

Accounting Opportunities Experience (AOE), a month-long nationwide initiative designed to introduce high school students to the dynamic opportunities available within the accounting profession, kicked off for the fourth consecutive year on November 3.

When it comes to using AI tools, generationally diverse teams are more productive, a new report found. But training for Gen Z employees outpaces opportunities for older generations to upskill.

The rise of artificial intelligence (AI) to power businesses is real — and so are the associated risks.

Strong technical prowess remains the bedrock of financial leadership, but CFOs say their jobs now require broader skill sets.

The Internal Revenue Service issued slightly fewer, but slightly larger, refunds last tax season, but saw a more than 1% jump in the total number of returns received and processed.

Decades before Oscar Vives became a successful CPA whose specialty is advising clients on retirement income, he went to a store in Florida, excited to buy a video game priced at $49.99.

Governor Ned Lamont today announced that his administration is providing $3 million in emergency state funding to the nonprofit organization Connecticut Foodshare to help Connecticut residents who are expected to lose access to food stamp benefits from the Supplemental Nutrition Assistance Program (SNAP) during the shutdown of the federal government.

Accounting firms have a strong hiring outlook this year, with three-in-four of those that recruited new staffers in 2024 indicating plans to hire the same amount or more in 2025, according to a biennial American Institute of CPAs (AICPA) report on trends related to accounting graduation rates, the CPA Exam and hiring demand by accounting firms.

The number of students who graduated with either a bachelor's or master's degree in accounting dropped again last year, but not as much as in recent years, according to the latest Trends report released Monday by the American Institute of CPAs.

The American Institute of CPAs has created an artificial intelligence-enabled tool, Josi, that provides secure, direct access to the AICPA’s professional standards, authoritative guidance and related information.

The Internal Revenue Service today reminds the more than 800,000 paid tax preparers that preparer tax identification numbers must be renewed annually, and the 2026 renewal period is now open.

The desire to hire new accounting graduates remains strong among public accounting firms, and signs point to a possible turning of the tide when it comes to supply meeting demand, according to data from the AICPA’s biennial Trends report.

The U.S. Senate on Monday passed the Internal Revenue Service Math and Taxpayer Help Act, H.R. 998, which, among other changes, requires the IRS to provide taxpayers with details on notices related to a math or clerical error.