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New Law Gives Property Tax Exemptions to CT Veterans With Disabilities
Just in time for Memorial Day, Governor Ned Lamont signed into law a property tax exemption specifically for veterans with permanent and total disabilities related to their service. This new […]
IRS Opens New Office to Encourage Alternative Dispute Resolution
In a significant move to revitalize and enhance the efficiency of tax dispute resolutions, the IRS has recently established a new Alternative Dispute Resolution (ADR) Program Management Office. This strategic […]
TCJA Expires in 2025. What Happens Next?
The short answer is no one really knows. During a recent hearing with the House Ways and Means Committee, Treasury Secretary Janet Yellen provided only limited details on how the […]
Navigating the New Overtime Rules for Connecticut Small Business Owners
The U.S. Department of Labor has introduced significant changes to the Fair Labor Standards Act (FLSA), adjusting the salary thresholds for overtime exemptions. These changes will come into effect in […]
IRS Increases HSA Limits for 2025
The IRS recently announced the 2025 inflation adjustments for health savings accounts (HSAs) and health reimbursement arrangements (HRAs), reflecting the ongoing economic conditions. The adjustments show an increase in allowable […]
IRS Grants Penalty Relief for CAMT Underpayment of Estimated Corporate Taxes
The IRS recently issued a critical update for corporations regarding the Corporate Alternative Minimum Tax (CAMT), a change introduced in the Inflation Reduction Act. This new legislation introduced a CAMT […]
How Did the 2023 Tax Season Go for the IRS?
The IRS reported a significant return to taxpayers, disbursing around $659 million in refunds, marking a 2.7 percent increase in 2023 over 2022. This uptick in refunds comes against a […]
What Business Owners Need to Know About the FTC’s New Rule on Non-competes
An estimated 30 million Americans currently under a non-compete agreement may soon be free to leave their job and immediately go to work for a competing business because the Federal […]
RMD Relief Extended for 2024
The IRS has recently extended the tax relief on required minimum distributions (RMDs) for inherited individual retirement accounts (IRAs) and annuities through 2024. This extension is part of a series […]
Lower Interest Rates on Delinquent Property Taxes Heads to CT House
A significant legislative change is on the horizon for Connecticut residents that owe back property taxes. House Bill 5144, currently advancing to the House floor, proposes to reduce the interest […]
CT – Once Again – Discusses Phasing Out Motor Vehicle Tax
Connecticut’s ongoing debate on the phase-out of the state car tax reveals deep concerns and varying opinions among stakeholders. The proposed legislation, which suggests eliminating the motor vehicle tax within […]
IRS Targeting High-Income Taxpayers with Unfiled Returns
After its success targeting millionaires with unpaid taxes, the IRS has launched a new initiative to improve tax compliance among high-income taxpayers who have not filed federal income tax returns since 2017. This effort, funded by the Inflation […]