Hartford Business Journal

www.HartfordBusiness.com April 17, 2017 • Hartford Business Journal 7 WHAT'S AHEAD: ■ 4/24 Focus: Education ■ The List: Largest Colleges and Universities ■ Nonprofit Profile: CT Council For Philanthropy Inc. CALENDAR SATURDAY, MAY 20 Big Mo' Welcomes UConn Back to Downtown Hartford Riverfront Recapture will hold its major Big Mo' fundraiser at UConn's under-construction Hartford campus May 20, to welcome the state's flagship university back to the Capital City. The Big Mo' celebrates new and positive changes happening in Hartford and East Hartford. It chose to commemorate the UConn Hartford campus this year, given the university's investment to revitalize the long-vacant historic Hartford Times building on Prospect Street. The Big Mo' at UConn Hartford will feature food from downtown Hartford restaurants, music and tours of the UConn Hartford campus. The event will begin with a 5:30 p.m. reception for benefactor ticket holders, followed by the main event starting at 6:30 p.m. For more information or to purchase tickets go to: riverfront.org/bigmo, or call Debbie Baker, at 860.713.3131, ext. 326. F O R A C O M P L E T E L I S T O F G R E A T E R H A R T F O R D B U S I N E S S E V E N T S , G O T O W W W . H A R T F O R D B U S I N E S S . C O M A N D C L I C K O N ' C A L E N D A R . ' A L L C A L E N D A R I T E M S M U S T B E S U B M I T T E D E L E C T R O N I C A L L Y V I A O U R W E B S I T E , H A R T F O R D B U S I N E S S . C O M . GOVERNMENT CT taxman seeks more preparers' oversight Connecticut's top tax collector wants to extend state oversight to commercial tax preparers not yet covered by state law. State Commissioner of Revenue Services Kevin Sullivan has asked the Finance, Revenue and Bonding Committee to back leg- islation that would set basic standards for paid commercial tax preparers' credentials. Tax preparers who are already regulated — including accoun- tants, attorneys, individual enrolled agents, and IRS qualified vol- unteers — would be exempt. The legislation is warranted, Sullivan said Tuesday, before he was slated to testify at noon about it because his office is see- ing increased evidence of preparers' errors, unfair practices "and even fraud." That includes tax preparation by companies that ma- terialize to do work in time for the tax season but then vanish from the marketplace after the season is over. "We have become increasingly aware within the commercial taxpayer community that no one knows who these preparers are and what standards they live by,'' Sullivan said. "The state gets a lot of complaints about bad practices and lack of actual prepara- tion. We think [the bill] is a modest approach." Under SB 1047, commercial tax preparers would qualify for a re- newable two-year permit based on evidence of a high school diplo- ma, IRS-issued preparer tax identification number and experience, education or training in income tax preparation. Starting in 2020, completing available basic IRS training would also be required. The legislation would also prohibit predatory practices. "This doesn't call for regulatory overkill," Sullivan added. "But taxpayers should be able to count on some measure of quality assurance and protection from predatory practices." Tax Commissioner Kevin Sullivan wants to crack down on fly-by-night tax preparers. P H O T O | S T E V E L A S C H E V E R INSURANCE The Hartford training new apprentices for jobs The Hartford has launched an apprenticeship program to pre- pare students for careers in the property and casualty insurance industry, and aims to hire 200 of those apprentices by 2020. The program will offer an insurance-specific curriculum, paid on-the-job training and mentoring to equip students for key cus- tomer-facing roles in The Hartford's claims operation. The Hartford is launching the program in partnership with Capi- tal Community College in Hartford and Rio Salado College in metro Phoenix, with classes beginning in June. Students completing the two-year program will be eligible for full-time employment with The Hartford, in addition to earning their associate's degree from their respective college. INDUCTEES: George R. Aylward '88, Virtus Investment Partners, Inc. • Shari G. Cantor '81, Town of West Hartford, UConn Board of Trustees • John R. Fodor '85, Investor and Entrepreneur • John P. Malfettone '77, Clayton, Dubilier & Rice, LLC The UConn School of Business wants to thank our generous sponsors! Hinckley Allen • Nerac • Quantum Biopower • Trans-Tek • UConn Office of the Vice President for Research Craig & Marilyn Douglas '77 • John Fodor '85 • Charles '90 MBA & Rosemary Schoenherr • Arnold Zackin '57

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