News

The U.S. Justice Department (DOJ) appealed a federal court decision that held the Corporate Transparency Act (CTA), P.L. 116-283, which requires the reporting of beneficial ownership information (BOI) by businesses, is unconstitutional.

The Internal Revenue Service announced today the full-scale launch of the innovative Direct File pilot and encouraged eligible taxpayers in 12 states to try the new service to file their tax returns online for free directly with the IRS.

Employees who feel trusted by their employers feel empowered to do their best work. Improved employee output can, in turn, fuel consumer trust.

The burden of choice is very real for accounting firms these days. From the constant stream of new technologies and the proliferation of new firm models, to the emerging demand for services in CAS, ESG, cannabis and beyond, one of the most critical choices firm leaders can make is which to pursue, and which to ignore.

Globally, CFOs have been given increasing responsibility most often in ESG, M&A, and corporate strategy, according to a new survey.

The American Institute of CPAs' Crystal Cooke talks about why the perception that companies are scaling back their diversity efforts is wrong, and how accounting can move forward in its pursuit of diversity, equity and inclusion.

Leaders say start small, phase in full credit over several years.

The renewable energy finance landscape has undergone a transformative shift with the passage of the Inflation Reduction Act of 2022. Building on this legislation, IRS proposed guidance in June 2023 helped to establish the tax credit transfer market, thereby allowing corporate taxpayers to play a pivotal role in the clean energy revolution. In this article, we explore the historical context of Investment Tax Credits (ITC) and Production Tax Credits (PTC), traditional tax equity financing structures, and the new opportunity presented by tax credit transferability for small- and medium-sized corporations.

More than two-thirds of this batch will go toward infrastructure and transportation projects.

Governor Ned Lamont issued the following statement in response to today’s release of a report containing finalized year-end data from the U.S. Bureau of Labor Statistics on jobs and employment levels in Connecticut for 2023.

Dubbed “The Green Monster” by opponents, the Environment Committee began collecting public input Friday on an omnibus bill that includes 22 multi-faceted initiatives aimed at tackling the root causes and ramifications of climate change across various sectors.

As winter fades into the spring, optimism is on the rise — 43% of finance executives share a sunnier outlook on the U.S. economy, according to the latest quarterly survey released by AICPA & CIMA.

The Department of Labor has announced a six-factor test for determining whether a worker is an independent contractor or an employee under the Fair Labor Standards Act. This new rule takes effect on March 11, 2024.

The SEC on Wednesday adopted a long-awaited rule for climate-related disclosures.

On March 1, 2024, Judge Liles Burke of the U.S. District Court in Huntsville, Alabama, held that the Corporate Transparency Act — and the beneficial ownership information reporting mandate it includes — is unconstitutional, because it exceeds the powers granted to Congress by the Constitution.

The Financial Crimes Enforcement Network (FinCEN) should pause all enforcement of the Corporate Transparency Act (CTA), P.L. 116-283, and its required beneficial ownership information (BOI) reporting until a legal challenge works its way through the courts, plaintiffs who won the first round of the case said Tuesday.

Mistakes continued to pile up this earnings season in the wake of Lyft Inc.'s market-roiling typo: Planet Fitness Inc., Mister Car Wash Inc. and Rivian Automotive Inc. all had to correct their quarterly earnings statements. These types of errors shake investor confidence and in extreme cases can result in heavy fines from the Securities and Exchange Commission.

The Connecticut General Assembly’s General Law Committee held a wide ranging public hearing on Thursday to explore the potential impacts, both good and bad, of artificial intelligence on a host of issues of interest to the state.

Over 125,000 high-income people who have not filed federal tax returns since 2017 will be mailed letters advising that they must file returns or explain why they don't need to file a return, the IRS said Thursday.

Connecticut needs a more equitable tax code and to depend less on property taxes, state lawmakers said at a news conference Wednesday morning at the Legislative Office Building.