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News & Updates from the
Government Affairs Team
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LAST DAY TO RENEW! The June 30 Renewal Deadline for
Even-Year CPA Licensees is Today
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The deadline for even-year
licensees is today! To check your CPE credits, use
our CPE Tracker, a benefit of your membership and free to all
MassCPAs members. For instructions on how to
export the CPE tracking sheet to your license renewal form, click
here.
Renewal links and information:
- Access your ePLACE Portal account and
renew your license here
- Request an authorization code to
access your account here
- Step-by-step guide for creating an
ePLACE Portal account, renewing your license, authorization
codes and more here
CPA Firm Renewal Affidavit
Forms are due by August 1. To access the
2022 Firm Affidavit 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.
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FY23 to Begin without Final Budget
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Last week, Governor Baker filed a $6 billion interim
budget that will fund state government through the end of July or
until the FY23 budget is passed and implemented.
The budget conference committee continues its deliberations
to finalize the details of the compromise budget, which we anticipate
will total roughly $50 billion. Once enacted by the Legislature,
Governor Baker has 10 days to sign and/or veto parts of the bill. We
expect the budget to be released in a matter of days as the
Legislature will have to quickly pivot to several other high-profile
pieces of legislation – including a potential tax relief package,
cannabis industry reform – that are also up against a
fast-approaching close to formal legislative sessions on July 31.
We continue to meet with key legislative staff to discuss
the need for reform to the Massachusetts estate tax – an area of
seemingly growing interest among legislators across the political
spectrum in both branches of the Legislature. We will keep you posted
on all developments as they arise.
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MassCPAs Testifies in Support of Decoupling
Massachusetts from Section 280E of the Internal Revenue Code (IRC)
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The conference committee formed to finalize a cannabis
industry reform bill was announced last week. MassCPAs was pleased to
submit testimony in support of an amendment to the bill that would,
in part, decouple Massachusetts from Section 280E of the IRC and
allow for cannabis businesses to take the same business deductions as
all other businesses. Read
our testimony here.
Special thanks to Charlotte Cathro, CPA, of Cathro LLC and chair of
MassCPAs Cannabis Committee for co-signing our testimony to the
conference committee, and to our Cannabis Committee members for their
work and advocacy. We look forward to working with the Legislature to
advocate for this amendment to remain in the final bill and passed
into law.
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Federal and State Tax News
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Members like you are the backbone of our community and
we want to hear from you. MassCPAs is conducting a brief, one
question survey to help us improve your membership experience.
Please
complete this one question survey
by Friday, July 8 –
it will take less than a minute of your time. TAKE
THE SURVEY
If you've already taken the survey, thank you for your
feedback!
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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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CPAs
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