In Announcement 2020(7) the Department of Revenue Services (“DRS”) announced that it was extending the time that a taxpayer has to file certain administrative protests with the DRS’s Appellate Division in response to a notice of assessment or a proposed disallowance of a claim for refund.  In addition, the DRS has extended the time that

Under the new CARES Act, Congress has authorized the Paycheck Protection Program (“PPP”), pursuant to which forgivable loans can be made to certain qualified businesses in order to provide economic support during the COVID-19 pandemic.  A detailed discussion of the PPP program can be found here. One of the benefits of the PPP loan

Prompted by the COVID-19 pandemic, the Treasury Department and the Internal Revenue Service (“IRS”) announced on March 21, 2020 that the federal income tax filing due date has been automatically extended from April 15, 2020 to July 15, 2020. The IRS further announced that taxpayers can also defer federal income tax payments due on April

Prompted by COVID-19, the Connecticut Department of Revenue Services (DRS) is granting an automatic extension of Connecticut filing deadlines for some Connecticut tax returns due on or after March 15, 2020, and before June 1, 2020.

The returns subject to automatic extension and the new extended filing dates and payment deadlines are as follows:

On Wednesday, March 11, the Internal Revenue Service (IRS) in Notice 2020-15 published its first formal guidance addressing the developing public health emergency wrought by the novel coronavirus, COVID-19.  The Notice provides that a high deductible health plan (HDHP) that covers testing for and treatment of COVID-19 before satisfaction of the plan’s minimum deductible will

On June 26, 2019, Governor Ned Lamont signed a $43.4 billion budget for the 2020 and 2021 fiscal years. The biennial budget addresses the projected $3.7 billion budget deficit for the period, but still increases spending by 1.7% in the 2020 fiscal year, and by 3.4% in the 2021 fiscal year. Although a letter dated

With less than three weeks left in the regular session of the Connecticut legislature, two bills that are pending and awaiting further action by the legislature, if signed into law, would represent tax relief for Connecticut taxpayers who are paying for the care of their relatives in need of long-term/home health care, or who have

On Friday, March 8, Bloomberg News published an article claiming that the IRS is likely to issue additional regulations regarding states’ efforts to circumvent the state and local tax deduction limitation put in place pursuant to the Tax Cuts and Jobs Act. Bloomberg News quotes Scott Dinwiddie, of the IRS’s Income Tax and Accounting Division