News & Updates

IRS, Treasury update Notice 2023-29 related to energy community bonus credit amounts under the Inflation Reduction Act

Featuring information on the MA Senate $590 million tax relief plan, CPA license renewal information and more.

Featuring information on May 2023 DOR Revenue collections, Senate President Karen Spilka stating the Senate is “proceeding with a tax relief package” soon and more.

IRS releases guidance on elective payments and transfers of certain credits under the Inflation Reduction Act

Treasury, IRS issue guidance for the advanced manufacturing investment credit

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Special options available to help taxpayers who missed the April deadline; people encouraged to file, pay by June 14 to avoid larger penalties and interest

Time is running out: Taxpayers missing $1.5 billion in refunds for 2019 must file by July 17

IRS statement on California mailing of balance due notices

Mid-June estimated tax payment deadline in sight for many taxpayers

IRS grants penalty relief for corporations that did not pay estimated tax related to the new corporate alternative minimum tax

DOR Update

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Featuring MassCPAs leadership and staff recently attending the American Institute of Certified Public Accountants (AICPA) Spring Council and Annual Members’ meeting in Washington, D.C. , President Biden and U.S. House Speaker McCarthy reaching an agreement to raise the debt ceiling days before the U.S. was set to run out of money to pay bills and more.

Tax professionals: Choose from 45 timely seminars at the 2023 Nationwide Tax Forums, earn up to 18 continuing education credits during historic period for the tax community

Treasury and IRS provide proposed rules on energy projects for low-income communities

IRS provides additional guidance for advanced energy projects

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IRS alerts businesses, tax-exempt groups of warning signs for misleading Employee Retention scams; simple steps can avoid improperly filing claims

Featuring MassCPAs leadership and staff attending the AICPA Spring Council and Annual Members’ meeting in Washington, D.C. , the MA Senate beginning debate on its $55.8 billion FY24 budget and more.