State Taxation

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Avoiding the SALT cap might spark a larger tax bill

February 17, 2021

Bypasses to the curb in states including Connecticut and New Jersey provide legal ways for business owners to preserve their full deduction, which includes those often-steep property levies. But some shocked taxpayers can wind up owing more tax than they originally would have.

  • state tax
  • federal tax

CT seeks to spare telecommuters from double taxation as it battles neighboring states in court

February 17, 2021

Gov. Ned Lamont and the legislature’s Finance Committee are trying to shield thousands of residents with out-of-state employers from double taxation while Connecticut and its neighbors battle over fiscal policy in court.

  • state tax
  • advocacy - state

Tax policy shifting this year under Biden

February 16, 2021

The Biden administration is likely to dramatically change its approach to tax policy, with the first step in the stimulus package it began pushing through Congress this month.

  • state tax
  • advocacy - federal
  • federal tax

Surprise tax bills await in pandemic-affected IRS filing season

February 11, 2021

The U.S. federal tax-filing season that begins Friday will be among the most consequential in recent history, as households face potential surprises — both negative and positive — sorting through pandemic-related measures at a time of high unemployment and depressed consumer confidence.

  • coronavirus
  • personal financial planning
  • state tax
  • federal tax

Revenue Services: Online individual income tax filing for Connecticut returns available

February 09, 2021

The Department of Revenue Services (DRS) online Taxpayer Service Center (TSC) is currently accepting and processing Connecticut individual income tax returns. As of last Friday, more than 3,800 state individual income tax returns have been filed, with approximately 3,300 state refunds issued, via the TSC, which is an easy, free, and secure filing and payment option.

  • state tax

Lamont to extend COVID emergency until April 20

January 26, 2021

Gov. Ned Lamont informed legislative leaders Monday he will extend from Feb. 9 until April 20 the public health and civil preparedness emergency that gives him sweeping powers to manage the COVID-19 pandemic.

  • state tax
  • advocacy - state

Senate leader pitches new state property tax on high-value homes

January 26, 2021

Connecticut’s tax fairness debate took another leap forward recently when the Senate’s highest-ranking Democrat proposed new taxes on high-value homes and on the capital gains of the state’s highest earners.

  • state tax
  • advocacy - state

The N.H.-Mass. tax fight could have implications that go far beyond our borders

January 26, 2021

At first glance, the border battle between Massachusetts and New Hampshire over income taxes might seem like a mere squabble between two neighbors. But the fallout could be felt nationwide once the dust finally settles because of the rising acceptance of remote work, and the trend’s implications for state tax policies.

  • business and industry
  • coronavirus
  • practice management
  • state tax
  • federal tax

Businesses Could Face Penalties For Failing To Register With Paid Leave Authority

January 25, 2021

Fewer than half of the state’s 100,000 businesses have registered with the state as part of the Paid Family Medical Leave program. Some 40,000 Connecticut businesses have registered with the state to withhold half of a percent from employee wages to pay up to 12 weeks of paid family leave benefits starting in 2022.

  • business and industry
  • practice management
  • state tax
  • advocacy - state

Gov. Ned Lamont tells Connecticut business leaders he’s ruling out ‘broad-based’ tax increases

January 22, 2021

Gov. Ned Lamont on Friday ruled out “broad-based” tax increases, telling business leaders that higher taxes over the past 30 years have failed to solve Connecticut’s problems.

  • state tax
  • advocacy - state

What will happen to estate, gift and generation-skipping transfer tax exemptions in 2021 and beyond?

January 21, 2021

With the inauguration of President Joe Biden and a congress narrowly controlled by the Democratic party, many clients and estate planners have begun to worry about what, if anything, will happen to the federal estate, gift and generation-skipping transfer (“GST”) tax exemptions and rates in 2021 and beyond.

  • personal financial planning
  • state tax
  • federal tax

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

HBJ’s 2021 economic forecast

December 28, 2020

Hartford Business Journal's 2021 Book of Lists includes an economic forecast section containing outlooks for the year ahead from various economists and industry experts. Here’s a look at what they had to say.

  • coronavirus
  • diversity
  • forensic accounting and fraud
  • member news
  • not-for-profit
  • personal financial planning
  • practice management
  • state tax
  • technology and cybersecurity
  • advocacy - state

Surgent's Getting Ready for Busy Season: Review Individual Tax Form Changes

Feb 18th 10:00am - 12:00pm

Online

2.00 Credits

Major 2019 tax form changes as they relate to individual taxpayers Key new tax developments as they relate to 2019 and how they impact the 2019 tax forms  Discussion Leader(s) Mike Tucker, Ph.D., LL.M., J.D., CPA

State Tax Committee Meeting: Meet New DRS Commissioner Mark Boughton

Feb 19th 9:00am - 10:30am

Online

0.00 Credits

Don't miss the opportunity to join new DRS Commissioner Mark Boughton for a virtual meet-and-greet.

The Best Federal Tax Update Course by Surgent

Feb 19th 9:00am - 5:00pm

Online

8.00 Credits

• The SECURE Act, including RMD changes, the elimination of the stretch IRA, modification of the kiddie tax rules, and expansion of §529 plans and 401(k) retirement plans for part-time workers • The CARES Act and FFCRA, including employer tax credits, SBA loans, and EFMLEA and EPSLA expanded leave programs • The CARES Act changes to §163(j), §461(I), and NOL rules • Bonus depreciation rules and expansion of §179 • Expansion of number of taxpayers able to use the cash method of accounting • Is the "Employee vs Independent Contractor" conundrum about to explode? • Comprehensive coverage of §199A and its alteration of pass-through taxation and planning • Crypto currency • Practice aids, including all the numbers applicable for the current year -- inflation-adjusted amounts, mileage rates, retirement contributions, and more • Advanced practice, reporting, and other issues intertwined with advanced planning and discussion ideas • The latest issues related to any other late-breaking tax law changes Discussion Leader(s) Bob Lickwar, CPA

NEW 2020 Stimulus Bill: Tax Provisions You Need to Know NOW

Feb 23rd 10:00am - 12:00pm

Online

2.00 Credits

• PPP2 - The next round of the Paycheck Protection Program and how it integrates with PPP1 • PPP1 and PPP2 related deductions • Stimulus payments for individuals, including dependents • Expanded and refundable child care credit • Credits for child care providers • Employer credit for child care payments • Employee retention credit for domestic workers • Child and family care for essential workers • Extended unemployment period and additional payment • Extensions of prior legislation: mortgage loan forgiveness, interest deduction, energy provisions, depreciation of special assets • And much more!

Annual Tax Update: Individuals and Sole Proprietors

Feb 24th 9:00am - 5:00pm

Online

8.00 Credits

Latest tax legislation, court rulings and IRS pronouncements related to individuals and sole proprietors - Practical return preparation tips -Latest developments for pass-through entities that affect Schedule C and Schedule E, including Qualified Business Income -Tax-saving ideas -Unique insights into new planning strategies -Latest IRS rulings impacting individuals -Latest developments on estates, gifts and trusts -Depreciation and amortizationDiscussion Leader(s) William Harden

Individual Tax Update 2020

Feb 24th 1:30pm - 3:30pm

Online

2.00 Credits

The major topics that will be covered in this course include:2020-21 tax legislation and developments related to individual taxpayers2020 tax rates and inflation-adjusted figuresReview and update of Section 199A deductionChanges in Form 1040 and its related forms and schedulesRental real estate and other passive activities lossesCapital gains and lossesKey rulings, regulations and cases affecting individual taxpayersDiscussion Leader(s) Steven C. Dilley, CPA, JD, PhD

NEW 2020 Stimulus Bill: Tax Provisions You Need to Know NOW

Mar 8th 12:30pm - 2:30pm

Online

2.00 Credits

• PPP2 - The next round of the Paycheck Protection Program and how it integrates with PPP1 • PPP1 and PPP2 related deductions • Stimulus payments for individuals, including dependents • Expanded and refundable child care credit • Credits for child care providers • Employer credit for child care payments • Employee retention credit for domestic workers • Child and family care for essential workers • Extended unemployment period and additional payment • Extensions of prior legislation: mortgage loan forgiveness, interest deduction, energy provisions, depreciation of special assets • And much more!

Tax Season Update with Steve Dilley

Mar 18th 9:00am - 1:00pm

Online

4.00 Credits

The major topics that will be covered in this course include:2020-21 legislative, judicial and IRS developments impacting practitioners during the upcoming filing season2020 tax rates and inflation-adjusted figuresReview and update of the Section 199A deductionDepreciation and capitalization regulationsReview of any significant changes in tax formsAnalyze significant regulations, IRS rulings, and court cases affecting individuals, corporations, S corporations and partnershipsDiscussion Leader(s) Steven C. Dilley, CPA, JD, PhD

NEW 2020 Stimulus Bill: Tax Provisions You Need to Know NOW

Mar 23rd 1:00pm - 3:00pm

Online

2.00 Credits

• PPP2 - The next round of the Paycheck Protection Program and how it integrates with PPP1 • PPP1 and PPP2 related deductions • Stimulus payments for individuals, including dependents • Expanded and refundable child care credit • Credits for child care providers • Employer credit for child care payments • Employee retention credit for domestic workers • Child and family care for essential workers • Extended unemployment period and additional payment • Extensions of prior legislation: mortgage loan forgiveness, interest deduction, energy provisions, depreciation of special assets • And much more!

Individual Tax Update 2020

Mar 24th 9:30am - 11:30am

Online

2.00 Credits

The major topics that will be covered in this course include:2020-21 tax legislation and developments related to individual taxpayers2020 tax rates and inflation-adjusted figuresReview and update of Section 199A deductionChanges in Form 1040 and its related forms and schedulesRental real estate and other passive activities lossesCapital gains and lossesKey rulings, regulations and cases affecting individual taxpayersDiscussion Leader(s) Steven C. Dilley, CPA, JD, PhD