The SECURE 2.0 law, which was enacted last year, contains wide-ranging changes to retirement plans. One provision in the law is that eligible employers will soon be able to provide more help to staff members facing emergencies. This will be done through what the law calls “pension-linked emergency savings accounts.”
Last week, Massachusetts lawmakers Dylan Fernandes and Josh Cutler filed legislation to create a pilot program studying the concept of a 4-day work week.
The Federal Reserve recently announced the launch of FedNow, a new real-time payments service that will enable faster and more secure financial payments for consumers and businesses. This system has the potential to revolutionize how people make payments in the US by providing instantaneous transfer of funds between banks in a matter of seconds, available 24 hours a day, 365 days a year.
The IRS announced on March 21, 2023 that they are soliciting feedback in advance of new guidance on the tax treatment of NFTs as collectibles.
This week, Massachusetts Governor Maura Healey unveiled a $742 million tax relief package designed to provide relief to the Commonwealth’s most vulnerable populations and make the state's tax structure more competitive.
If your small business has a retirement plan—and even if it doesn’t—you may see changes and benefits from a new law. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was recently signed into law. Provisions in the law will kick in over several years.
The Employee Retention Credit (ERC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic. While the credit is no longer available, eligible employers that haven’t yet claimed it might still be able to do so by filing amended payroll returns for tax years 2020 and 2021.
During this week’s midterm election, Massachusetts voters approved Question 1 – an amendment to the state’s constitution that will increase taxes for the commonwealth’s wealthiest residents.
In August, President Joe Biden signed the Inflation Reduction Act of 2022 into law. While the legislation is focused primarily on fighting climate change and making health care and prescription drugs more affordable, it also has some significant tax impacts.
This November, millions of Massachusetts taxpayers could receive an automatic state refund, under a little-known law called Chapter 62F.
