The IRS has imposed a moratorium on new Employee Retention Credit (ERC) filings due to a surge of fraudulent and questionable claims. The moratorium on new filings for the Covid-19-era relief program for businesses was announced on Thursday, Sept. 14, 2023, and is...
It’s been a volatile year for investments, and many taxpayers may deal with the tax impact of significant gains or losses. But nothing is decided tax-wise until year end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to...
James J. DeLuca, CPA, MST Senior Tax Manager The Massachusetts “millionaire tax” takes effect for the current tax year, and taxpayers who expect to be impacted have several strategies available to avoid or minimize it. But careful tax planning – starting now – is...
Charles R. Kennedy, CPA, MBA Vice President & Director of Tax Services Starting January 1, 2024, corporations, limited liability companies and similar entities will be required to report certain “beneficial owner information” (BOI) to FinCEN — the Financial...
The Massachusetts Attorney General’s (AG) office recently amended filing requirements for small charities, relieving them of the requirement to submit a federal Form 990 as part of their annual filings and disclosures. The change takes effect starting September 1,...
