by Jim Keefe | Jul 10, 2025 | Uncategorized
On July 4, 2025, President Trump signed into law legislation that has been dubbed, “One Big Beautiful Bill (OBBBA)”. The bill extends a number of provisions from the Tax Cuts and Jobs Act of 2017 and attempts to fulfill many of his campaign promises. The following is...
by Jim Keefe | Jan 22, 2025 | Uncategorized
The IRS recently issued Revenue Ruling 2025-4 to provide guidance on the federal income and employment tax treatment of contributions and benefits paid under state-mandated Paid Family and Medical Leave (PFML) programs, as well as the related reporting requirements....
by Jim Keefe | Jan 11, 2025 | Uncategorized
The Massachusetts Department of Revenue (DOR) has amended 830 CMR 62.5A.1(6) to clarify that, for taxable years beginning on or after January 1, 2025, pass-through entities must apportion their taxable net income using the single sales factor apportionment rules under...
by Jim Keefe | Dec 28, 2024 | Uncategorized
On November 14th, 2024, the Internal Revenue Service (IRS) issued IR-2024-289 which increased the maximum tax-free charitable donations that can be made through a qualified charitable distribution (QCD). In years prior to 2024, the IRS limit for tax-free QCD’s was...
by Jim Keefe | Oct 25, 2024 | Uncategorized
On October 8, 2024, the Massachusetts DOR issued working draft regulation 830 CMR 62B.2.4 that explains the proposed withholding requirements on the sale of real estate in the Commonwealth by non-residents. The effective date of the regulation has still yet to be...
