News & Updates

For California storm victims, IRS postpones tax-filing and tax-payment deadline to Nov. 16

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IRS: Taxpayers impacted by the terrorist attacks in Israel qualify for tax relief; Oct. 16 filing deadline, other dates postponed to Oct. 7, 2024

IRS updates tax gap projections for 2020, 2021; projected annual gap rises to $688 billion

Boston Mayor Michelle Wu testified at the State House yesterday before the Legislature’s Joint Committee on Revenue.

Featuring information on Governor Healey’s Administration announcing that they were taking the first steps to assemble a group of interested leaders from the state’s 357 cities and towns, Boston Mayor Michelle Wu's recent testimony at the State House and more.

Yesterday, MassCPAs spoke with the Springfield Regional Chamber of Commerce’s Budget & Tax Policy Subcommittee. We had a discussion on the rollout of the Fair Share Amendment and the new tax reform package that was signed into law last week. It was a great conversation and a good opportunity for MassCPAs to interact with others interested in the tax policy in the Commonwealth. We hope to have more conversations and discussions with similar groups across the state. If there are any MassCPAs members that sit on a tax subcommittee at a regional or local chamber that would be interested in having us present or speak, please reach out to Molly Sullivan, vice president of government affairs at msullivan@masscpas.org.  

On Tuesday, Governor Healey’s Administration announced that they were taking the first steps to assemble a group of interested leaders from the state’s 357 cities and towns.

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IRS issues guidance for the transfer of clean vehicle credits and updates frequently asked questions

Yesterday, Governor Maura Healey signed the $1 billion tax relief package into law. It will be phased in over multiple years and goes into full effect in fiscal year 2027 (FY27).

Yesterday the House passed a bill that would require many Commonwealth employers to disclose a salary range on job postings.

IRS warns taxpayers of improper art donation deduction promotions; highlights common red flags

Featuring Governor Maura Healey signing the $1 billion tax relief package into law, the House passing a bill that would require many Commonwealth employers to disclose a salary range on job postings and more.

On Wednesday, the Department of Revenue (DOR) announced that the state’s September tax revenues came in below the benchmark leaving the state $170 million short of where it was expected to be at this point in FY24.

DOR Update

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IRS: Taxpayers impacted by seawater intrusion in parts of Louisiana qualify for tax relief; various deadlines postponed to Feb. 15

Oct. 16 tax filing extension deadline nears for millions of taxpayers

IRS delivers new capabilities to Tax Pro Account; latest expansion part of effort to improve technology, tools to help tax professionals serve clients