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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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Debate Continues on Governor Baker’s $700 Million in Tax Relief
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Debate on the roughly $700 million worth of tax breaks offered in the Governor’s FY23 budget and companion bills has taken center stage on Beacon Hill.
After a meeting with House Speaker Mariano and Senate President Spilka earlier this week, Governor Baker renewed his calls to provide financial relief to Massachusetts residents. The measures include efforts to overhaul the estate tax code, which the Society has long-supported and recently provided testimony to do so.
Over the last month, we met with staff members on both the Senate and House Committees on Ways and Means to express our support for the various tax relief proposals, as well as the Governor’s plan to update the income tax conformity date from 2005 to 2022. We look forward to continuing our work with the Legislators and their staff members on your behalf to see such proposals passed into law.
In case you missed it, read our whitepaper supporting the Governor’s proposal to update the income conformity date here. We will keep you posted on any new developments.
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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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Small Business Administration 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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