News & Updates

Treasury and IRS announce final regulations on how to report and pay the corporate stock repurchase excise tax

IRS: Marijuana remains a Schedule I controlled substance; Internal Revenue Code Section 280E still applies

Treasury, IRS issue final regulations requiring broker reporting of sales and exchanges of digital assets that are subject to tax under current law, additional guidance to provide penalty relief, address information reporting and other technical issues

IRS provides tax relief for taxpayers impacted by severe storms, straight-line winds, tornadoes and flooding in Mississippi; various deadlines postponed to Nov. 1, 2024

Featuring an Advocacy in Action Day recap, the House debating H.4789, An Act relative to strengthening Massachusetts' economic leadership and more.

IRS sending settlement offer letters in July to certain taxpayers who participated in Syndicated Conservation Easement transactions

National Taxpayer Advocate issues mid-year report to Congress; highlights filing season challenges and focuses on strategic priorities

Electronic Tax Administration Advisory Committee 2024 Annual Report includes recommendations to Congress and IRS

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IRS statement as part of the resolution of Kenneth C. Griffin v. IRS, Case No. 22-cv-24023 (S.D. Fla.)

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IRS releases revised draft Form 6765, Credit for Increasing Research Activities, following public comment

MassCPAs' new report urges policymakers to act on its recommendations to curb outmigration by high-income earners and businesses driven by the millionaire's tax.

Retirement plan distributions: IRS provides guidance on certain exceptions from 10% additional tax for emergency personal or family expenses and for survivors of domestic abuse

IRS enters next stage of Employee Retention Credit work; review indicates vast majority show risk of being improper

DOR Update

Featuring MassCPAs' 2024 Public Policy and State Competitiveness Report, the DOR releasing information about an upcoming change to the Meals Tax account type in MassTaxConnect and more.

Treasury, IRS release guidance on the prevailing wage and apprenticeship requirements for increased credit and deduction amounts under the Inflation Reduction Act

IRS announces new steps to combat abusive use of partnerships; agency’s focus intensifies as new guidance closes loopholes worth tens of billions

Treasury, IRS issue frequently asked questions regarding educational assistance programs