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CEO Corner
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Dear Hannah,
Thank you for taking the time to voice your concerns to your state legislators. Without your advocacy, this would not have happened. Thank you also to those of you who have reached out and thanked your legislators. That really helps!
This also would not have happened without the tireless work of the MSCPA team. I want to thank Zach Donah, senior director of advocacy, Larry Liuzzo, government affairs manager and Elizabeth Emanuelson, senior director of communications. We are so fortunate to have an amazing team here at the Society, and I am grateful for them every day!
As many of you have noticed, the announcement only covered individual income tax filings. We are working with the Department of Revenue (DOR) to get additional guidance about extensions, corporate returns, etc. Please visit our Coronavirus Resource Center and The HUB, our online community, for updates.
These last few weeks have been chaotic in many ways for everyone, but it is in such times that communities come together, help each other and come out stronger for it. On behalf of the MSCPA, thank you for the work that you do. I hope this extension improves your weekend.
Enjoy the sunshine and stay healthy!
Amy Pitter
MSCPA President/CEO
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COVID-19 Response: How to Help
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Safely Support Those in Need During the COVID-19 Outbreak
Organizations across Massachusetts are collecting extra supplies and fundraising to help those affected by the coronavirus. Please consider donating what you can and share with your clients to help the Commonwealth replenish what is being lost during the pandemic. Below is a list of Massachusetts organizations that need your help, including:
- Resiliency funds;
- Medical supply organizations;
- Food banks; and
- Restaurant and food service worker groups.
| Legislative News
| Massachusetts COVID-19 Updates
The Massachusetts Department of Public Health provides official information regarding the outbreak of the coronavirus updated daily. Information you will find includes the number of confirmed cases in the Commonwealth, guidelines to follow to keep yourself safe and how to best prepare for future developments. As of early Friday, 23,621 people have been tested with 2,417 confirmed 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 hardships facing everyone in the Commonwealth.
Legislation and programs initiated to date:
- Congress Passes $2 Trillion stimulus package – Included in the bill:
- 1,200 checks to American adults/$500 for children;
- $500 billion for businesses, cities and states;
- $367 billion fund for small businesses;
- Four months of expanded unemployment insurance; and
- $130 billion dedicated to hospitals.
- Waiving the one-week waiting period to apply for unemployment benefits
- Congress passes coronavirus bill wiith $1billion in relief for Mass. Medicaid program
COVID-19 and the American Workplace – U.S. Department of Labor Update
The U.S. Department of Labor released additional information on the Families First Coronavirus Response Act, which provides job-protected leave and expanded paid sick leave. To learn more, click here.
Massachusetts Department of Unemployment Assistance Virtual Town Halls
Massachusetts DUA is providing virtual town halls for folks seeking help to apply for unemployment assistance. These town halls are offered online and over the phone and folks must register to attend. To learn more, click here.
Small Business Relief and Assistance
Some municipalities may be providing other relief, if not for small business, for residents having issues paying rent or mortgage. Call your city/town hall and ask if any programs exist. Call your local bank to see if they have small business relief programs for any assistance. Click here to view a list of available programs.
| CPE Webinars
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Emotional Intelligence: The Critical Factor in Success (3/30)
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Examine the 12 keys to Emotional Intelligence (EI) and proven tactics to help every aspiring leader "work smarter," learn how to utilize appropriate social skills and the value of a timely pause, discuss how to understand your emotions as well as the emotions of others and more. REGISTER
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How Technology is Impacting the Accounting Profession (3/31)
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| Discuss the leading technologies and economic forces reshaping the accounting profession and how accountants are using new digital business models to thrive in the face of rapid and seismic change, discover how accountants are elevating their role using cyber tools and becoming pilots of global business and more. REGISTER
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Build Your Personal Net Worth (4/2)
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| Review common misconceptions of the "wealthy" and early and mid-career strategies for accumulating wealth, learn where and how to invest, discuss why fees and commissions should be top of mind, examine strategies for buying stocks, mutual funds and exchange-traded funds (ETFs) and more. REGISTER
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To view all of our webinars and virtual learning opportunities, click here.
| MSCPA Fitness Challenge
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Top Teams This Week
Individual Category:
CPYAY - 1,168,520 average steps
2-10 Participants Category: KLR Fit Fam - 679,996 average steps
11-20 Participants Category:
Deloitte - 443,287 average steps
21-30 Participants Category:
Powers & Sullivan, LLC - 397,223 average steps
31-50 Participants Category: O'Connor & Drew, P.C. - 418,511 average steps
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." To view photos, click here. If you have questions, click here or email Hannah Naranjo. Thanks to Integrated Partners for sponsoring!
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Member Spotlight
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Mike Castro, CPA
Partner,
Castro Thresher & Oliveira PC
Meet Mike Castro, CPA, partner at Castro Thresher & Oliveira PC! Read our interview with Mike
from our March issue of
SumNews
to learn his proudest career achievement, how his MSCPA membership has helped his career development and more. MEET MIKE
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COVID-19 Impact on Peer Review
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The MSCPA Peer Review Team recognizes the potential impact of travel restrictions and health concerns due to the coronavirus (COVID-19) pandemic on upcoming peer review due dates. Our top priority during this time is the health, safety and welfare of firm personnel and peer reviewers. As such, we are operating with an abundance of caution and will consider all factors in advising firms and peer reviewers of the options available to them with regard to upcoming peer review deadlines. The AICPA sent
this notice to firms that had due dates prior to July 1, 2020. You can request an extension for your firm's peer review due date by following these instructions or if you have corrective actions or implementation plan due and need an extension please follow these instructions. Please contact Aury Sanchez or Beth Lyons if you have questions.
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Does IR-2020-57 Contain an Egregious Error?
Massachusetts Extended Filing
Federal Bailout
Update on IRS Service Lines
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See news coverage featuring the MSCPA and its members on the latest tax extensions and how COVID-19 is impacting CPAs and businesses across Massachusetts.
LEARN MORE
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AICPA PRACTICE ANALYSIS REPORT: FEEDBACK NEEDED BY 4/30
The AICPA values the views of all CPA Exam stakeholders and is seeking responses to changes that are proposed for implementation in the next version of the CPA Exam. Please submit your responses by April 30.
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Member of Concord Consortium's Finance Committee - Concord Consortium
Board
Member - Brockton Area
Multi-Services, Incorporated (BAMSI)
Treasurer or Bookkeeper - Boston Chapter of Massachusetts AEYC
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Bookkeeper - Edelstein & Company LLP
SEC Analyst - American Outdoor Brands Corporation
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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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