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  • 14 Apr 2020 3:13 PM | MaSEA Staff (Administrator)

    Several of us have heard from clients who are not seeing the IRS withdrawing from their account as planned. Some have not had any money withdrawn and in one case, it took 10 days. As Milton Cooley (an NAEA colleague) pointed out, "People will spend the money if they see it in their account," so even the 10 day delay can be a problem. 

    I am currently working with the IRS and NAEA to resolve the issue. It is not our professional tax software (it's affected users of at least 3 different softwares). The earliest date I know about is March 27.  I will keep everyone informed of what I learn. 

    If you have this situation, please email me immediately. Send your name, email, software, form filed, date filed, date accepted, date of withdrawal, whether the state also had a withdrawal, and if the state withdrawal was successful. Please email them to KozLogTax@gmail.com

  • 14 Apr 2020 3:11 PM | MaSEA Staff (Administrator)

    It's been a challenge to stay current with the radically different procedures for this one federal and state income tax season. MA DOR has published a one-stop comprehensive webpage of all the latest relevant changes. Imbedded in this information are links to pertinent federal sources. Consider bookmarking this important DOR COVID Update page as your primary online reference tool toward a successful, and extended, filing season.

    Additionally, MA DOR takes email requests. Send your questions and issues that need clarification to TaxProFeedback@DOR.State.MA.US

  • 9 Apr 2020 9:51 AM | MaSEA Staff (Administrator)

    The Governor announced Geoffrey Snyder as MA DOR Commissioner, succeeding Chris Harding. Snyder was appointed as a DOR Deputy Commissioner for a brief time by former DOR Commissioner and current Secretary of Administration and Finance, Mike Heffernan. Snyder most recently was employed as a business consultant. He has extensive experience with equity sales in the banking industry.

  • 9 Apr 2020 9:49 AM | MaSEA Staff (Administrator)

    Considering the COVID situation, also consider that working at home requires cyber security vigilance. John Torvi of Landy Insurance can be followed on twitter @landyinsurance and contacted by email johnt@landy.com. John reminds EA's that virtually all network breaches result from someone opening an infected email, link or attachment. He offers further preventative information, tips, webinars and a newsletter. Being cyber informed is one of those ingredients that make up that ounce of data protection.

  • 8 Apr 2020 10:51 AM | MaSEA Staff (Administrator)

    Taxpayers who filed a balance due tax return and scheduled a direct debit payment for Wednesday, 4/15/20 have until 11:59pm on Monday, April 13th to defer the payment. Odette Turenne, IRS Senior Stakeholder Liaison, reminds practitioners that if a fund withdrawal payment was scheduled, the payment may be cancelled by contacting the U.S. Treasury, 888-353-4537. The cancellation request must be at least two business days before the scheduled payment date.

  • 8 Apr 2020 10:50 AM | MaSEA Staff (Administrator)

    The Baker administration released guidance on Friday about the tax extensions that were issued in response to the coronavirus pandemic. Click here for a quick breakdown of that information.

  • 2 Apr 2020 11:35 AM | MaSEA Staff (Administrator)

    As trusted financial professionals, you are among the people that your clients should look to for guidance. None of us has a crystal ball or can promise an outcome, but comforting words, support, and suggestions are helpful. 

    Here are some things you can do:

    1. For clients that have lost their jobs or their business is shut down, offer to defer their payment to you. Not every tax preparer can afford this, but many can. Many of us get most of our income for the year right now, so spreading it out isn't that big of a deal. 
    2. Send emails to your clients with helpful information like:
      1. RMD's are waived for 2020.
      2. Tax returns and payments are now due on July 15th instead of April 15th, but you probably want your refund! You can file now and still delay payment until July. 
      3. June 15th estimated taxes are still due on June 15th.
      4. When the IRS releases information about providing bank accounts for stimulus checks, share with your clients.
    3. Help your small business clients that need loans by providing documentation and support. Delay billing them for a while. 
    4. Support your local businesses. 
    5. Shut down any conversations from high income people looking for ways to "manipulate" the system and get the stimulus money. 
    6. Contact friends and clients that you know live alone or are likely to be struggling financially or mentally. Just a hello and some kind words go a long way. Also, make sure they aren't in need of food or medicine. 

    Those who shine during hard times are remembered. We are professionals and one great way to show why we are better than DIY tax software is to be a provider of information and support. 

    Be Safe, Be Healthy, and Be Kind!

    Beth Logan

    MaSEA President

  • 2 Apr 2020 11:34 AM | MaSEA Staff (Administrator)

    The Governor's advisory that non-essential companies shut down is an advisory. The Legal and Financial professions are generally considered essential. As a tax preparer, you can expedite a refund to the unemployed or working with reduced pay. EAs are allowed to give tax advice and assist taxpayers about the timing of filing. Does delaying a 2019 filing increase or reduce the stimulus pay-out. EAs are allowed to represent taxpayers who get DOR Refund Verification Review letters, need research of payment amounts, get letters of proposed changes or assessments. Perhaps IRS collections, lien and levy enforcements have been suspended until July 15th, but EA's are still generally considered essential.

    You personal well being is most essential. In all cases, consider your health and personal safety first.

  • 30 Mar 2020 12:54 PM | MaSEA Staff (Administrator)

    Just recently, Last week NH announced a tax extension. NY State published Notice N20-2 that supersedes Notice 20-1 that was published just a few days before. NYS maintains a website FAQ page. Some tax jurisdictions have closed walk-in centers and due to staffing reductions even shutdown call centers. When preparing state, county or city income return, a practitioner's best resource is likely that tax jurisdiction's website. The rules are changing as we play the game.

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