News & Updates

IRS reminder: Make sure to understand recent changes when buying a clean vehicle

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On August 29, the Society joined the Greater Boston Chamber of Commerce in issuing a statement urging Massachusetts lawmakers to quickly finalize negotiations around the long-awaited tax reform proposal.

Featuring news on MassCPAs & Greater Boston Chamber of Commerce issuing a statement urging resolution to tax reform plan, MassCPAs' Vice President of Government Affairs and more.

IRS issues guidance on state tax payments

IRS: Those impacted by Idalia qualify for tax relief; Oct. 16 deadline, other dates postponed to Feb. 15

Businesses must electronically file Form 8300, Report of Cash Payments Over $10,000, beginning January 1, 2024

Treasury and IRS issue proposed regulations on prevailing wage and apprenticeship requirements for increased energy credit or deduction amounts

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IRS announces administrative transition period for new Roth catch up requirement; catch-up contributions still permitted after 2023

Interest rates increase for the fourth quarter 2023

Treasury and IRS issue proposed regulations on reporting by brokers for sales or exchanges of digital assets; new steps designed to end confusion, help taxpayers, aid high-income compliance work

Reminder to employers and employees: Educational assistance programs can be used to help pay workers’ student loans; free IRS webinar will offer details

Featuring MassCPAs tax reform survey, MassCPAs recently weighing in on new Beneficial Ownership Information (BOI) requirements and more.

Governor Maura Healey signed the FY 2024 budget in August

IRS, DOR and general advocacy updates

The Department of Revenue (DOR) recently released the June 2024 and FY 2023 collections report

As part of our ongoing advocacy on comprehensive tax reform in Massachusetts, we’re once again seeking your input.

The Massachusetts Society of CPAs (MassCPAs) has requested the Massachusetts Congressional Delegation sign on to legislation delaying the beneficial ownership information (BOI) reporting requirements, scheduled to go into effect on January 1, 2024.  

By David Stone, CPA, MBA, CFE, senior manager at BerryDunn