Topic
DOR Update: 2022 Sales & Use Tax Returns Changes
AAFCPAs would like to make clients aware of some recent changes instituted by the Massachusetts Department of Revenue (DOR) related to 2022 Sales and Use Tax Returns, including forms related to sales tax on services and meals, room occupancy excise tax, and marijuana retail tax. New lines will be added to the Sales Tax on […]
Child Tax Credit Advance Payments: IRS Letter 6419
AAFCPAs would like to make clients aware that the IRS has started mailing copies of its Letter 6419, which outlines Advance Child Tax Credit payments that may have been received by taxpayers between July 2021 and December 2021. Taxpayers will need this letter when filing 2021 taxes and to claim the remaining credit. Reporting the […]
MA Form 3ABC due by 3/1 to avoid local property taxes
The Massachusetts “Return of Property Held for Charitable Purposes” (Form 3ABC) provides for an exemption from local taxation on personal and real property for eligible charitable organizations. As a reminder, in order to be exempt, you must file an annual Form 3ABC, due at the Assessor’s Office no later than March 1, in each city or town […]
Boston Business Journal: In play: local colleges are navigating a whole new world of athletic endorsement deals
Boston Business Journal (2.2.22) – AAFCPAs Tax Consulting Attorney, and former Lehigh University D1 Soccer and LAX athlete, Brittany Besler, MBA, CPA, Esq., weighs in on tax implications athletes and businesses may consider…
Massachusetts Emergency Paid Leave Act Updates
AAFCPAs would like to remind clients that in September of 2021, the state of Massachusetts extended their Emergency Paid Sick Leave Act, requiring employers to make paid leave time available to employees. These COVID-19 paid leave obligations will now continue until April 1st, 2022. The act is effective Friday, May 28th, 2021, through April 1st, […]
AAFCPAs’ update on the Employee Retention Credit (ERC) for 2020 and 2021
AAFCPAs would like to remind clients of the availability of the Employee Retention Credit (ERC). The ERC can provide significant refundable payroll tax credits to eligible employers for both the 2020 and 2021 tax years. It is not too late to submit a claim for the ERC! What Is the Employee Retention Credit? The ERC […]
Bella Amigud, CPA, MST Promoted to Tax Partner
Boston, MA (01/31/22) – AAFCPAs, a best-in-class CPA and consulting firm known for assurance, tax, accounting, wealth management, business process, and IT advisory solutions, today announced the promotion of Bella Amigud, CPA, MST to Tax Partner. Bella specializes in business tax compliance, planning, and consulting. She coordinates tax services, brings timely, value-added tax strategies, and […]
Shawn Huxley Joins AAFCPAs’ Employee Benefit Plan Audit Practice
Boston, MA (01/24/22) – AAFCPAs, a best-in-class CPA and consulting firm known for assurance, tax, accounting, wealth management, business process, and IT advisory solutions, today announced the addition of Shawn P. Huxley, CPA, MSA, as a Partner in the firm’s Employee Benefit Plans practice. Shawn joins AAFCPAs with 15 years of public accounting experience leading […]
Low Income Housing Tax Credit Program Extensions
AAFCPAs would like to make clients aware that on January 11, 2022 the IRS issued Notice 2022-05 which further extends the temporary relief from certain requirements for low-income housing tax credit (LIHTC) projects, originally extended earlier in 2020 & 2021 due to the COVID-19 pandemic. For your convenience we have outlined some of the key […]