This week's legislative news
mscpa_logo_87075.jpg

COVID-19 MSCPA Legislative Brief
fridayatfive_summer_86951.jpg

The MSCPA Legislative Brief offers you information and resources available through federal and state governments regarding business loan programs, Department of Labor (DOL) and Department of Health (DOH) updates, and news as it relates to the impacts of COVID-19 on our profession, the economy and our Society. For more information, visit the MSCPA’s Coronavirus Resource Center.

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.

July 15 Tax Filing Deadline – One Week Away

The IRS announced last week that the July 15 tax filing deadline will not be extended for a second time. Individual taxpayers who are unable to file by July 15 may request an automatic extension to file until October 15.

A long time coming, this year’s busy season is almost over.

Paycheck Protection Program Extended to August 8

Last week, both houses of the U.S. Congress passed legislation extending the application window for the Paycheck Protection Program (PPP) until August 8 and was signed into law by the President on July 4.

With about $130 billion in funding remaining, the extension gives struggling small businesses a few more weeks to apply for assistance.

Guidance for Paycheck Protection Program (PPP)
DOR & IRS Updates
New England Advocacy Coalition

Earlier this year, MSCPA President and CEO Amy Pitter formed the New England Advocacy Coalition, which is comprised of the presidents and CEOs of their respective state CPA societies. Each month, the Coalition produces a newsletter that captures what's been happening around New England as it relates to the accounting profession.

To read the July newsletter, click here.

UAA Model Rule Change to Support CPA Evolution

The AICPA and NASBA leadership recently proposed changes to the UAA to ensure the CPA credential reflects the rapidly changing landscape of the accounting profession and the necessary skills CPAs need today and will need in the future. Read the exposure draft here.

The public comment period is open until August 31, 2020 and can be emailed to
uaacomments@nasba.org

Massachusetts Resources

Massachusetts Health Connector: The Health Connector extended its enrollment period through July 23 due to the COVID-19 outbreak. If you've lost your health insurance due to a job loss and want to see if you qualify for health coverage, click here.

Reopening Massachusetts: We are in Phase 3 of our Reopening Plan. For more information, click here.  

DUA Unemployment Scam: 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.

Additional information on this will be posted here as it becomes available. 

Department of Public Health (DPH):
Click here to read updates from the DPH regarding COVID-19. 

Division of Local Services (DLS): For those who work with cities and towns across the Commonwealth, the DLS has a dedicated webpage that provides finance guidance to city and town officials related to the state of emergency. For more information, click here

For urgently needed guidance, please
email the DLS

Resources for CPAs

For a full list of Massachusetts relief programs and professional resources, please visit the MSCPA’s Coronavirus Resource Center for CPAs.


MSCPA-footer_1_86979.gif
Facebook
Instagram
LinkedIn
Twitter
Click here  to unsubscribe from General - Membership News & Updates messages.
Click here to manage your email preferences.
©2020 mscpaonline.org  |  Massachusetts Society of CPAs
105 Chauncy Street, 10th Floor, Boston, MA 02111
Click here to unsubscribe.
poweredByDark.png