MA Taxpayer Returns/Payments Deadline

Massachusetts tax returns and payments for the 2019 calendar year otherwise due on April 15, 2020 are now due July 15, 2020. The July 15, 2020 due date applies to personal income tax, estate and tax trust income tax, and income tax due with a partnership composite return with an April 15, 2020 due date.…

SBA Loan Assistance

Paycheck Protection Program The Paycheck Protection Program (PPP) is a Small Business Administration (SBA) loan available to small businesses with fewer than 500 employees (including sole proprietors, independent contractors and self-employed persons). Businesses in the hospitality and food industry with more than one location may also be eligible at the store and location level if…

Relief Bill: Stimulus Checks

As part of the $2 trillion economic relief bill signed into law by President Trump on March 27, 2020, the IRS will be sending payments to millions of Americans. At this time, here’s what we know and we will keep you posted as more guidance is provided by the government: The stimulus payment amounts will…

Massachusetts DOR Update

Sales and Use Tax, Room Occupancy Excise Suspension The MA DOR has adopted emergency regulation that suspends sales and use tax and room occupancy excise tax return filing and payment remittance obligations for certain vendors and operators during the COVID-19 state of emergency. Late-file or late-pay penalties will be waived for vendors or operators who…

Paid Leave for Workers

On March 18, 2020, the Families First Coronavirus Response Act (FFCRA) was signed into law by President Trump. The FFCRA becomes effective April 2, 2020 and expires on December 31, 2020 – it is not retroactive. Among its various provisions, the FFCRA addresses paid sick leave, family paid leave, and related tax credits for eligible…

Taxpayer Relief

Yesterday (3/20/20) the Internal Revenue Service issued Notice 2020-18 which supersedes Notice 2020-17 (regarding a postponement in income tax payments) and which automatically postpones to July 15, 2020 the filing of federal income tax returns and the making of federal income tax payments due April 15, 2020 by Affected Taxpayers.  Affected Taxpayers include individuals, a…

COVID-19 Workforce Decisions

The national state of emergency in response to the COVID-19 pandemic is forcing many employers to carefully weigh their workforce options. Some employers have been able to continue business operations by implementing remote work arrangements or by reducing staff hours. However, for many employers it has meant temporarily closing their business or imposing temporary furloughs…

SECURE Act Update

The Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”) was signed into law on December 20, 2019, and makes some of the most significant changes to the administration and inheritance of retirement accounts since the Pension and Protection Act of 2006. Following are some key provisions: Repeal of Maximum Age for…