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News & Updates from the Government Affairs Team
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You are receiving the Legislative Brief newsletter as a benefit of your MassCPAs membership. Renew today to continue receiving this and all your member perks!
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Massachusetts Senate Unveils $49.7 Billion FY23 Budget; Includes Update to Personal Income Tax Date
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Earlier this week, the Massachusetts Senate unveiled its $49.7 billion FY23 budget proposal, which includes an update to the Massachusetts personal income tax rules from the 2005 version of the Internal Revenue Code (IRC) to the 2022 IRC – mirroring the policy update included in both the Governor’s and House budget proposals. To read the Senate budget proposal, click here.
Like the House, the Senate did not include the tax relief policies proposed alongside Governor Baker’s budget proposal filed earlier this year. Last week, Senate President Karen Spilka directed the Senate to take up said tax relief once the budget deliberations have concluded. Shira Schoenberg at CommonWealth Magazine has more on the Senate budget and tax relief here.
We are grateful to Senate President Karen Spilka, Ways and Means Chair Michael Rodrigues, the Massachusetts Senate and staff for including the update to the state's personal income tax conformity date and pleased that both the Administration and Legislature have made this important policy update a priority in their budgets.
The Senate is set to debate the budget the week of May 23. We look forward to ongoing discussions with the Senate and their staff throughout their budget deliberations and will keep you posted on all developments as they arise.
| June 30 Renewal Deadline for Even-Year CPA Licensees
| The deadline for even-year licensees is June 30! To access your ePLACE Portal account and renew your license, click here.
Please ensure that the Board has your correct address on file. If you have not linked your license to your online account, you will need an authorization code, which can be requested here. For a step-by-step guide on how to create an ePLACE Portal account, renew your license, receive an authorization code and more, click here. CPA Firm Renewal Affidavit Forms are due by August 1, 2022. To access the 2022 Firm Affidavit Form, click here. To check your CPE credits, use our CPE Tracker, which is free to all MassCPAs members. For directions on how to export the CPE tracking sheet to your license renewal form, click here. Please note: You may experience technical issues when accessing the page via Internet Explorer or a search on a mobile device. If this occurs, please use a different internet browser to renew your license.
The Board of Public Accountancy is aware that renewals prior to April 12, 2022, were renewed for only one year and expire on June 30, 2023, rather than 2024. If your renewal was impacted, your license will be reissued in the coming weeks with the correct expiration date. If your renewal was impacted but you do not receive a new license by July 30, please email the Board for an update. | Federal and State Tax News
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REMINDER: Important security update for your MassCPAs.org password
| The new MassCPAs.org launched on March 8, 2022, and as part of our enhanced security, you will need to update your password the first time you log into the new site – this is a one-time change to help protect your information. Visit MassCPAs.org/login, click “Forgot Password” and a link will be emailed to you to reset your password.
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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 email Zach Donah or Larry Liuzzo.
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