Connecticut news

A&A

Bramwell’s Lunch Beat: AgFeed Was Living High Off the Hog

Here are “Bramwell’s Lunch Beat” menu items for March 12.
Tax

Bramwell's Lunch Beat: Could Wyden Replace Baucus as Top Tax Writer?

Here are "Bramwell's Lunch Beat" menu items for December 23.
Practice

CPA Firms FMRTL and O'Connor Davies to Merge January 1

Cranford, New Jersey-based CPA firm Fazio, Mannuzza, Roche, Tankel, LaPilusa, LLC (FMRTL) will merge with New York-based full-service CPA firm O'Connor Davies, LLP effective January 1, 2014.
A&A

FASB to Host Roundtable Meetings on Insurance Proposal

The Financial Accounting Standards Board will host public roundtable meetings in December on its proposed accounting standards update "Insurance Contracts (Topic 834)."
Tax

How State Income Taxes May Be Redrawing the Population Map

Not many political potatoes are as hot as taxes. Whatever your opinion about state and local taxes, it's prudent now and then to gauge how the prevailing rates affect a state's fiscal health overall.
Tax

Employers in Seventeen States May Face Higher FUTA Tax Rates

Because seventeen states and the Virgin Islands have had an outstanding federal unemployment insurance loan for at least two years, employers in those jurisdictions may not be able to claim the maximum amount of state unemployment tax credits on their 2013 FUTA tax return.
Tax

Many States Offer Back-to-School Sales Tax Holidays in 2013

Did you know there are seventeen states where state sales tax charges are temporarily dropped on back-to-school items, such as clothing, footwear, classroom supplies, computers, and certain other products?
Tax

Tax Evasion: Jail Time Begins for Lauryn Hill

Lauryn Hill is officially behind bars. Her first meal, according to TMZ.com, was "tasty BBQ pulled pork with a side of carrots, peas, and sweet potatoes." Doesn't sound too punitive.
A&A

Joint Roundtable Meetings Set on Lease Accounting Proposal

The FASB and the IASB will host five joint public roundtable meetings in September and October on their revised proposals on lease accounting that were published in May.
Education & Careers

Miss USA: Accountants Can Be Beautiful

In one fell swoop, a beautiful bombshell knocked some wind out of two long-held stereotypes. The new Miss USA is an accountant. That's right, Erin Brady works as a financial accountant at Prudential Retirement in Hartford. Or at least she did.
Tax

Internet Sales Tax Clears Senate Hurdle

New legislation authorizing the states to collect sales tax from companies peddling their wares online breezed through the Senate on May 6 by a wide 69-27 margin. But the Marketplace Fairness Act is expected to face much tougher opposition in the Republican-controlled House of Representatives.
Tax

Tax Freedom Day Finally Arrives for 2013

Tax Freedom Day® arrives today, the 108th day of 2013, according to the Tax Foundation's annual calculation. Americans will work well over three months of the year before they have earned enough money to pay this year's tax obligations.
Practice

Mix of Old and New Comprise 2014 Vault Accounting 50

Vault.com released its 2014 Vault Accounting 50, a ranking of the fifty best accounting firms in the nation to work for. The survey asked more than 7,900 accountants to assess their peer accounting firms on a scale of one to ten based on prestige and quality of life factors.
Tax

IRS Opens Window Longer for Sandy Victims

The IRS is throwing yet another life preserver to taxpayers who were victimized by Hurricane Sandy. Under a new Notice, these taxpayers now have until October 15, 2013, to deduct their disaster-area losses on a 2011 or 2012 return.
Practice

KPS & Co. Merges with Alan M. Gould & Co.; Now Serves Florida

KPS & Company, LLC of West Hartford, Connecticut, jump-started 2013 by announcing a merger with the accounting and tax practice of Alan M. Gould & Co. of West Palm Beach, Florida, KPS’s first venture outside its home state of Connecticut.
Tax

Crime Watch: January 16, 2013

Masood Chotani, a CPA and tax return preparer, was indicted by a federal grand jury on charges of engaging in a scheme to file false tax returns with the IRS using the names and Social Security numbers of deceased individuals.
Practice

ParenteBeard Combines with Presscott Associates

ParenteBeard LLC, a top twenty-five, US accounting firm, and Presscott Associates, Ltd., a prominent health care management consulting firm, announced they have combined practices as of December 31, 2012.
Community News

Accountant Questioned in Newtown Killings

December 14 probably started like any other workday in the life of a young accountant. Ryan Lanza was at his desk when the horrifying news came that a man had burst into Sandy Hook Elementary School and opened fire on children and adults.
Tax

Crime Watch: December 12, 2012

A New Jersey CPA was sentenced to fifty-four months in prison for a $500 billion fraud scheme. In addition to his prison term, he was sentenced to three years of supervised release and ordered to pay $43,582,699 in forfeiture.
Tax

IRS Provides Additional Relief to Hurricane Sandy Victims

Following recent disaster declarations for individual assistance issued by the FEMA, the IRS announced November 2, 2012, that affected taxpayers in Connecticut, New Jersey, and New York will receive tax relief.

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