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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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Massachusetts March 2022 Revenue Collections Total $3.858 Billion
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The DOR announced March 2022 revenue collections totaled $3.858 billion, which is $802 million (26.2%) more than March 2021 and $427 million (12.5%) above monthly benchmarks.
FY22 year-to-date collections total $27.545 billion, which is $4.961 billion (22%) more than the same period of FY21, and $2.184 billion (8.6%) more than the year-to-date benchmark.
To learn more, click here.
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“HireNow” Hiring and Training Employer Grant Program
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The Baker Administration launched its “HireNow” grant program to help eligible employers hire and train new workers.
Program Details:
- Employer Eligibility: Any Massachusetts employer who is in good standing with the Department of Unemployment Assistance and Department of Revenue (DOR) obligations and is not de-barred by the state is eligible (excluding federal, state and municipal governments). Applications must be submitted by the employer, not an education or training partner
- Application Process: Employers must pre-register online at Mass.Gov/HireNow by providing employer information. Following the employee’s hire and 60-day retention period, employers will submit a final application for funding. The Commonwealth will also approve the planned use of the funds (training costs, signing bonus, etc.) when approving the application
- Eligible Hires: Hires must be made after March 23, 2022, be retained for a minimum of 60 days and be placed in jobs that are at least 30 hours per week. New hires need to be Massachusetts residents employed in Massachusetts. There are also limits on compensation:
- Minimum eligible compensation: $14.25/hour (minimum wage)
- Maximum eligible compensation: $42.50/hour (~$85K annualized)
- Funding: Up to $4,000 for each eligible employee hired, with a limit of $400,000 per employer. Funds will be provided on a first-come, first-served basis
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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 pages 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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IRS Tax Filing Information
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REMINDER: Important security update for your MassCPAs.org password
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The new MassCPAs.org is now live and as part of our enhanced security, you will need to update your password the first time you log into the new site – this is a one-time change to help protect your information. Visit MassCPAs.org/login, click “Forgot Password” and a link will be emailed to you to reset your password.
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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