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We're working to keep you informed in a world that changes by the minute. If you have anything you'd like to share, or if we can help you in any way, please email Zach Donah or Larry Liuzzo.
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Department of Revenue (DOR) Tax Season Information
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Below are links to various DOR webpages outlining important tax season information. The DOR has committed to updating these webpages when necessary. If you have questions for the DOR or if there is inaccurate or confusing information listed on their website, please email Larry Liuzzo.
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State and Local Tax (SALT) Information
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DOR update: Eligible pass-through entities (PTE) must register for the 63D-ELT tax type before making a payment, and not make 63D-ELT payments on other pre-existing tax types. The PTE must file its annual return and make the election before filing the 2021 Form 63D-ELT.
SALT Links:
To sign up to receive important updates directly from the DOR, click here.
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Massachusetts February 2022 Revenue Collections at $1.801 Billion
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The DOR announced February 2022 revenue collections totaled $1.801 billion, which is $74 million (3.9%) less than February 2021 and $293 million (19.4%) above monthly benchmarks.
FY22 year-to-date collections total $23.673 billion, which is $4.145 billion (21.2%) more than the same period of FY21, and $1.742 billion (7.9%) more than year-to-date benchmark.
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MassCPAs Advocates for Businesses and Practitioners on Schedules K-2 and K-3
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The AICPA and state CPA societies across the country called on the Treasury Department and the IRS to delay implementation of the Schedules K-2 and K-3 to 2023 (the 2022 tax year filing season) and to suspend any assessment of penalties against Partnerships or S Corporations for failing to file or provide timely Schedules K-2 and K-3 for the 2021 tax year. To learn more, click here.
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IRS Tax Filing Information
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Small Business Administration Information
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Important security update for your MassCPAs.org account
The new MassCPAs.org is now live and as part of our enhanced security, you will be required to update your password the first time you log into the new site. Visit MassCPAs.org/login, click “Forgot Password” and a link will be emailed to you to reset your password. This is a one-time change to help protect your information on our website. Below are instructions for accessing The HUB after you have updated your password:
• From MassCPAs.org: Log into MassCPAs.org, click “The HUB” at the top of the page, and
you will be directed to The HUB. Once there, click "Continue to Login" in the left-hand rail
and then click the "Website Login" button and you will be automatically logged in.
• From hub.masscpas.org: Click the “Continue to Login” button in the left-hand rail and then
click the “Website Login” button. Log into MassCPAs.org and you will be automatically
redirected to The HUB.
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