News

COVID & Stress: Addressing Mental Health at Work

January 22, 2021

Not only has the pandemic caused a tremendous amount of stress, but it has also exacerbated many people's mental health disorders. How can you make the work environment a safe and comfortable place for them, and ensure everyone is coping well with current events?

  • business and industry
  • coronavirus
  • practice management

SBA releases streamlined PPP forgiveness forms

January 22, 2021

The U.S. Small Business Administration released a one-page form aimed at simplifying the process of applying for forgiveness of Paycheck Protection Program loans, along with newly revised and updated forms to meet the requirements of the latest stimulus legislation.

  • coronavirus
  • practice management

6 tips for CPAs on newest round of PPP funding

January 21, 2021

Business leaders and the CPAs who serve them will need to use a variety of strategies all at once as they pursue economic support in the newest round of Paycheck Protection Program (PPP) funding.

  • advocacy - federal
  • coronavirus
  • federal tax
  • practice management

CT budget leaders want to use massive savings to expand COVID-19 relief

January 21, 2021

While the rosy revenue projections have drawn a lot of attention recently, another factor — savings — is pumping hundreds of millions of dollars into Connecticut’s coffers.

  • coronavirus
  • advocacy - state

Lamont to lead NGA task force on pandemic response

January 21, 2021

Gov. Ned Lamont will co-chair a National Governors Association task force on pandemic and disaster response, an appointment made by New York Gov. Andrew Cuomo, the NGA chair and a close collaborator in crafting a regional response to COVID-19.

  • coronavirus
  • advocacy - state

Overcoming Tax Policy Issues for Remote Workers

January 21, 2021

Working from home has been the reality for millions of Americans for months due to the COVID-19 pandemic, but it also creates new tax challenges for employers. Many staff members reside in one state but work for a company in another. Nahla Davies addresses how business owners can work around these kinds of tax issues.

  • coronavirus
  • federal tax

Pandemic lessons learned in supply chain management

January 21, 2021

Natural disasters and international trade disputes have disrupted supply chains in the past, but most experts agree the coronavirus pandemic has dealt an unprecedented blow.

  • business and industry
  • coronavirus

Employee Retention Credit Under COVID-19 Relief

January 20, 2021

Here is a recap of the Employee Retention Credit under the CARES Act and the higher-impact modifications under the latest COVID-19 Relief Package.

  • business and industry
  • advocacy - federal
  • coronavirus
  • federal tax
  • practice management

Evaluating Technology to Drive Firm Efficiency

January 20, 2021

I have long embraced the latest and greatest technology tools and viewed them as the way to make our lives easier and give us more freedom. So, having this belief from the onset of my firm’s existence clarified that my firm would be tech forward from the start. I know that I was fortunate enough to have a head start on this ideal when the pandemic hit.

  • coronavirus
  • practice management
  • technology and cybersecurity

Partner capital account reporting gets transition penalty relief

January 20, 2021

The IRS provided transition penalty relief Tuesday to partnerships in complying with new rules for reporting partners’ capital account balances.

  • coronavirus
  • federal tax

5 ways the future of work can make our lives better

January 19, 2021

This year has taught us all valuable lessons that will shape the future of work in profound ways – from finding new ways to connect virtually, to leading with empathy. The employee experience is about more than ping-pong tables and snacks: It’s about creating and maintaining a meaningful culture for employees, no matter where they sit.

  • business and industry
  • coronavirus
  • practice management
  • technology and cybersecurity

Employers can withhold, make payments of deferred Social Security taxes from 2020

January 19, 2021

The Internal Revenue Service today released Notice 2021-11 PDF addressing how employers who elected to defer certain employees' taxes can withhold and pay the deferred taxes throughout 2021 instead of just the first four months of the year.

  • business and industry
  • advocacy - federal
  • coronavirus
  • federal tax
  • practice management

Connecticut Joins NH Remote Work Income Tax Case

January 17, 2021

New Hampshire is challenging a Massachusetts measure that continues to tax nonresidents that formerly commuted to work in the Bay State, but now work from home because of the pandemic.

  • business and industry
  • advocacy - federal
  • advocacy - state
  • coronavirus
  • practice management

2021 tax filing season begins Feb. 12; IRS outlines steps to speed refunds during pandemic

January 15, 2021

The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.

  • coronavirus
  • federal tax

AI, applied: Lessons from 2020

January 15, 2021

The year of coronavirus will go down in history not just as a time of plague, but also of crisis-driven tech adoption. Mass migration online drove the adoption of cloud-enabled technologies, and AI was one of them.

  • business and industry
  • coronavirus
  • practice management
  • technology and cybersecurity

Connecticut officials forecast budget surplus of $70 million this year after earlier predictions of $2B deficit; Wall Street records boost tax revenue

January 15, 2021

In a stunning turnaround, state budget officials predicted Friday that Connecticut will end the fiscal year with a small surplus of $70 million — despite financial problems related to the ongoing COVID-19 pandemic.

  • coronavirus
  • advocacy - state

AICPA encourages firms to aggressively advance PPP applications

January 13, 2021

The AICPA expects the federal government to open up the application process for all lenders participating in the latest round of the Paycheck Protection Program by Friday, and encourages CPA firms to advance the application process for small business clients seeking relief.

  • coronavirus
  • practice management

Refund delays, stimulus check errors foreshadow rough tax season

January 13, 2021

Tax-refund delays and stimulus-payment hiccups could spill into the upcoming tax season as the Internal Revenue Service continues to face challenges related to the coronavirus pandemic and as Congress considers yet another round of direct payments.

  • coronavirus
  • state tax
  • federal tax

Stimulus payments and tax returns: What tax pros need to know

January 13, 2021

2020 introduced a number of unprecedented situations that have required some massive adjustments. And now, with the tax filing season upon us, a raft of brand new challenges await ahead of the April 15 deadline. Chief among them: uncertainty around the economic stimulus given to American taxpayers as part of the Coronavirus Aid, Relief and Economic Security, or CARES Act.

  • coronavirus
  • federal tax

Rocky Hill deli receives financial support from Barstool Fund

January 12, 2021

Another Connecticut restaurant is getting some much-needed help from a social media giant. The New York Pickle Deli, in Rocky Hill, is the next CT establishment to be selected to receive financial support from The Barstool Fund, created by Barstool Sports. The Barstool Fund has raised more than $22 million in an effort to help restaurants all across the country.

  • coronavirus
  • member news