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CEO Corner
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Dear Hannah,
Earlier today, U.S. Treasury Secretary Steven Mnuchin announced that the tax filing deadline will be extended to July 15, 2020. This provides much needed relief to both taxpayers and practitioners across the country who are facing an unprecedented set of challenges brought on by the COVID-19 pandemic. Thank you to all of you who answered our call to action yesterday and contacted the U.S. Treasury Department with your rightful concerns. We are also grateful that Congressman Richard Neal, Chairman of the House Committee on Ways and Means, heard our calls and contacted Secretary Mnuchin to formally request an extension.
We have since been in contact with Governor Charlie Baker, Lieutenant Governor Karyn Polito, Senate President Karen Spilka, House Speaker Robert DeLeo, Administration and Finance Secretary Michael Heffernan and DOR Acting Commissioner Kevin Brown to voice our concerns and request that Massachusetts follow federal guidance to extend the filing deadline to July 15, 2020. To view all developments from the DOR, click here.
Also thank you to members
John Geraci, Shanikwa Davis and Jeff Levine
who were interviewed along with me for an article on this issue in yesterday's
Boston Globe.
You can read the article here. We appreciate you adding your voice to this important matter!
In other COVID-19 related news:
- We are working with the Board of Public Accountancy to extend the dates for license renewal and CPE requirements. We feel optimistic and will keep you updated on any developments.
- We are offering free webinars on topics to help you through the COVID-19 pandemic. On Monday, Laurie LaBrie will talk about HR issues (register here), and on Tuesday, we will host another webinar on IT issues (register here). These webinars offer 1 CPE credit for all MSCPA members.
- Your health and safety continue to be of paramount importance to us. We are currently exploring how we can continue to offer you the CPE and other events that you rely on while maintaining social distancing. Watch your inbox for information on specific events.
We understand this is a challenging time for everyone and there will likely be long term ramifications to the situation happening now. We are keeping this in mind and will make adjustments to accommodate you in the months ahead. Please know that we are here to help you in any way we can, and we will come out of this stronger together.
I hope all of you stay healthy and sane during these unprecedented times. Please reach out to me if we can assist you in any way.
Amy Pitter
MSCPA President/CEO
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2016 Unfiled Return
Extension of the June
30 Deadline for Relicensing as a CPA
April 15th Deadline
IRS Extension -
Call to Action
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Virtual Small Firm Roundtables
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Virtual Small Firm Roundtables NEXT Week!
Join us next week at one of our six virtual roundtables:
- Attleboro | Monday, March 23 | 8:00 a.m. | REGISTER
- Westborough | Monday, March 23 | 12:00 p.m. | REGISTER
- Woburn | Tuesday, March 24 | 8:00 a.m. | REGISTER
- Braintree | Tuesday, March 24 | 12:00 p.m. | REGISTER
- New Bedford/Cape Cod | Wednesday, March 25 | 8:00 a.m. | REGISTER
- Pittsfield/Sturbridge | Wednesday, March 25 | 12:00 p.m. | REGISTER
Please contact Jill Foley if you have any questions.
| MSCPA Fitness Challenge
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How close is your team to the IRS's office in Washington, D.C.? Our very own Chauncy just made it to the Pennsylvania Society of CPAs last week!
See how close your team is to reaching the finish line by selecting the three dots on the Leaderboard and selecting "Map," or in the ChallengeRunner app by clicking on the Leaderboard and selecting "Map."
Top Teams This Week
Individual Category:
CPYAY - 1,012,975 average steps
2-10 Participants Category: KLR Fit Fam - 612,879 average steps
11-20 Participants Category:
Deloitte - 384,939 average steps
21-30 Participants Category:
Powers & Sullivan, LLC - 355,849 average steps
31-50 Participants Category: O'Connor & Drew, P.C. - 373,710 average steps
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Legislative News
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Massachusetts COVID-19 Updates
The Massachusetts Department of Public Health provides updated official information regarding the outbreak of the coronavirus daily. Information includes the number of confirmed cases in the Commonwealth, safety guidelines and how to best prepare for future developments. As of today, 3,132 people have been tested with 328 confirmed positive cases in Massachusetts.
The State House News Service has made its free "Coronavirus Tracker" available for everyone. It provides daily updates on what's happening in Massachusetts as it relates to COVID-19 developments and state government.
Legislation Relative to COVID-19
Governor Baker and Massachusetts state and federal lawmakers have been busy with legislation to alleviate the burdens and hardships facing everyone throughout the Commonwealth.
Legislation and programs initiated to date:
- Waiving the one-week waiting period to apply for unemployment benefits;
- $10 million recovery loan fund for small businesses;
- Governor Baker adds $5 million to the $15 million Coronavirus Fund; and
- Congress passes coronavirus bill with $1 billion in relief for the Massachusetts Medicaid program.
Governor Baker Extends Sales and Use Tax Collections for Certain Small Businesses
Earlier this week, Governor Baker directed the DOR to waive any late-file or late-payment penalties for "returns and payments due during the period March 20, 2020 through May 31, 2020" for businesses impacted by the state of emergency declaration due to the COVID-19 outbreak. Companies that earned under $150,000 in sales and meals taxes and that paid less than $150,000 in room occupancy taxes in the 12-month period ending February 29, 2020 are eligible for relief under TIR 20-2.
To read the emergency regulation regarding sales tax filing and payment schedules for certain vendors during COVID-19 state of emergency, click here. To read the emergency regulation regarding returns and payments during COVID-19 state of emergency, click here.
| CPE Webinars
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Managing Your Team through COVID-19 (3/23)
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Examine wage payments, benefits continuation and federal paid leave, learn how to handle employee stress and employee file documentation, discuss employer relief from regulation, how to lead your team through this unprecedented time and more. REGISTER
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Empowering an Agile Workforce (3/24)
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| Learn a number of ways that you can leverage technology for your firm and your clients to improve communication and collaboration in a world where an agile workforce has quickly become a necessity, look at technologies you likely already have in place and how they can be utilized to help keep your people safe and productive and more. REGISTER
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Entertainment & Parking Expenses: Coping with the New Rules (3/26)
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| Review the statutory and regulatory guidance as they relate to fringe benefits, discuss entertainment and business transportation expenses, including qualified employer-provided parking with a focus on planning opportunities, analyze recent federal tax legislation, cases and rulings and more. REGISTER
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To view all of our webinars and virtual learning opportunities, click here.
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Member News
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Last Call for Buzz and Classified Announcements
Do you have news to share? Submissions to the MSCPA's Buzz section and Classified advertisements for the May issue of our
SumNews magazine are due next Wednesday, March 25.
For more information about the Buzz, email Hannah Naranjo. For information and pricing for our Classified ads, email Kristin Wells. To view all submission deadlines and guidelines, click here.
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Cecilly Deorocki
Tax Associate,
tonneson + co
Meet Cecilly Deorocki, tax associate at tonneson + co! Read our interview with Cecilly from our March issue of
SumNews
to learn what drew her to the accounting profession, how receiving a scholarship through the MSCPA Educational Foundation impacted her career, how she's preparing to take the CPA Exam and more. MEET CECILLY
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| DGC (DICICCO, GULMAN & COMPANY LLP), Woburn, announced that RICHELLE MAGUIRE, CPA, MST, AEP® was named treasurer by The Boston Estate Planning Council for the 2020 and 2021 fiscal year. The firm also launched a coronavirus webpage: dgccpa.com/coronavirus. The page is continuously updated with new articles and checklists to help clients deal with the impact of COVID-19.
CHAD DAGRACA, CPA, MST, ELISABETH DA SILVA, CPA, CFF NICK DELENA, CISSP, CISA, CRISC, STEPHEN MINSON, CPA, MST
and
JACKIE REINHARD, CPA
have all written pieces contributing to the webpage.
JOHNSON O'CONNOR,
Wakefield, announced that
BRADLEY DUMAIS, CPA, senior, obtained his CPA license. The firm also announced that:
- JOSEPH GISO, CPA, MST, partner, presented a webinar titled, "Executive Compensation Issues for Nonprofit Organizations" hosted by the Financial Executives Alliance this month; and
- Employees attended the MSCPA annual trivia night in January.
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If your firm has system reviews due between now and July 1, the AICPA is allowing you to have your review done off-site without having to go through the process of requesting permission from the MSCPA. If your firm needs an extension for your review, corrective action or implementation plan because of COVID-19, it must be requested 60 days prior to the due date and done in the PRIMA system under Firm Self Service. As long as it's requested prior to the 60 days, we will be more lenient. However, this
does not mean we will approve extension requests for six months or more. If you need to request and extension for your peer review due date, please follow these instructions.
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The MSCPA's Vendor Directory lists service providers and vendors who tailor their products and services to the changing needs of CPAs and accounting professionals. It also includes MSCPA Corporate Partners which are companies that have supported the Society and worked closely with its members over the past several years. Submit an application to join the MSCPA's Vendor Directory and reach over 11,000 CPAs and accounting professionals. To view the Directory, click here.
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Member of Concord Consortium's Finance Committee - Concord Consortium
Volunteer Board
Member - Brockton Area
Multi-Services, Incorporated (BAMSI)
Treasurer or Bookkeeper - Boston Chapter of Massachusetts AEYC
Venture Fund Volunteer - United Way of Massachusetts Bay and Merrimack Valley
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Bookkeeper - Edelstein & Company LLP
SEC Analyst - American Outdoor Brands Corporation
Director of Tax Practice - Howland Capital
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Experienced Tax Preparer/Reviewer - Vaillette & Sipowicz LLC
Audit/Tax - Sandler
& Company PC
Senior Tax Manager - Nune Khachatrian, CPA, P.C.
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