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 December 20, 2019, President Trump signed into law H.R. 1865, the Further Consolidated Appropriations Act, 2020 (now Pub. L. 116-94) (the “Appropriations Act”), which, among other things, contains the Setting Every Community Up for Retirement Enhancement (SECURE) Act (the “Act”). The Act is a significant piece of retirement legislation which seeks to expand access

Background.  As part of the Tax Cuts and Jobs Act of 2017, the cost of providing certain transportation fringe benefits, including employer-provided parking, to employees of tax-exempt organizations became subject to federal income tax as unrelated business taxable income (“UBTI”).  This controversial federal tax, commonly referred to as the “parking tax”, become effective

On December 20, 2019, the President signed legislation repealing the excise tax, otherwise known as the “Cadillac tax,” on high cost health insurance plans.  Both houses of Congress had adopted the legislation the day before, as part of a federal spending package.

The excise tax was a component of the Affordable Care Act (ACA).  Without

Effective October 1, 2019, a new Connecticut law, P.A. 19-177, changed the existing requirements in Connecticut General Statutes Section 20-298b that apply to the ownership of architectural firms doing business as professional corporations incorporated in Connecticut. The new law now permits these architectural firms to have more than 33-1/3% of their voting stock owned by

In May we wrote about a Connecticut Senate Bill 435 (S.B. 435) and certain proposed federal legislation which would have created incentives for Connecticut employers to help their student loan-burdened employees pay down their debt.

The 2019 legislative session adjourned in June, and at that time, S.B. 435 had been referred to the Committee on

One hotly debated aspect of the Affordable Care Act (“ACA”) has been the so-called “Cadillac Tax” on high-cost health benefits, currently slated to take effect in 2022.  The Cadillac Tax is a 40% excise tax on the amount of employer-sponsored health care coverage which exceeds $10,200 for individuals and $27,500 for families.  (Higher thresholds apply