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We're working to keep you informed in a world that changes by the minute. If you have anything you'd like to share, or if we can help you in any way, please reach out to Zach Donah at zdonah@mscpaonline.org or 617.303.2411, or Larry Liuzzo at lliuzzo@mscpaonline.org or 617.303.2405.
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Tips for Employers to Slow the Spread of COVID-19 in the Workplace
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Secretary Mike Kennealy of the Executive Office of Housing and Economic Development recently released a letter for employers outlining the guidelines in place if an employee tests positive for, or is exposed to, the COVID-19 virus.
As you’ll read in the letter, here’s how employers can help prevent and slow the spread of COVID-19: - Review the Department of Public Health (DPH)’s information and guidance for persons in quarantine or isolation, and share it with your employees.
- Remind all employees to report instances of possible exposure and to immediately quarantine until either they receive a negative test or they self-isolate for 14 days, in accordance with the DPH guidance.
- Ensure employees who have faced possible exposure do not feel pressured to report to the workplace, whether or not they are exhibiting symptoms. Reassuring employees of their job security will help prevent virus transmission between coworkers.
- Monitor use of break rooms and warn employees of risks associated with carpooling. These settings have both been identified as hot spots for COVID-19 infections.
To read the Secretary’s letter to the business community, click here. |
Massachusetts FY21 Budget Remains in Committee
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The FY21 budget remains in conference committee, which is comprised of six legislators, three from both branches of the legislature and of both parties, who are tasked with finalizing the details for a final budget. The three budgets proposed by the Governor, Senate and House largely mirror each other totaling roughly $46 billion and do not call for new revenues or tax increases.
All of the budgets included the language relative to partnership audits, which would enable the Department of Revenue (DOR) to collect tax from partnerships or from individual partners in cases where the partnership accounts for the federal tax as a result of changes in federal partnership auditing rules in order to avoid significant revenue loss. The budgets also included language that will accelerate sales tax collections from businesses that collect and remit more than $150,000 from sales taxes in a year and reportedly would collect $267 million for the state. These
sections are likely to pass with the final budget, barring any unforeseen, last-minute changes.
We will provide new information to you once we have it.
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MSCPA Virtual Federal Tax Camp (12/9, 12/10 & 12/11)
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LAST CHANCE TO REGISTER! SUE SMITH, CPA, RETURNS NEXT WEEK! We have brought back one of our most well-known speakers to discuss with you some of the top tax issues you need to know! This conference will provide updates on the most important legislative and regulatory developments as well as major trends and changes in the case law. Register for the date that works best for you!
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Massachusetts Unemployment Insurance Fraud Resources
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Unemployment Insurance Fraud is on the rise again.
If you believe you may have had a false unemployment claim filed using your identity, contact the DUA here or at 877.626.6800. Please stay vigilant.
For more information and resources, click here.
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IRS Webinar: Uploading Forms 2848/8821 with Electronic Signatures (12/10)
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The IRS is hosting a webinar for tax professionals on how to successfully upload Forms 2848/8821 with electronic signatures
next Thursday, December 10 at 2:00 p.m. EST.
During this webinar, you'll:
- Understand new options for submitting third-party authorization forms/signatures electronically;
- Review step-by-step processes for successfully uploading third-party authorization forms;
- Learn which “electronic” signatures are acceptable;
- Understand ways to authenticate taxpayers’ identities when conducting remote transactions; and
- Have the time to ask questions during a live Q&A.
Attendees will earn 1 CPE credit for federal tax.
For more information, click here.
To register, click here.
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Guidance for Paycheck Protection Program (PPP)
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DOR & IRS Updates
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