DCG Logo DCG Logo
  • About Us

    Where there's unique perspective, there's DGC. 
    Learn more

    • Service Philosophy
    • Team
    • News & Events
    • Community Involvement
    • Moore Global Network
  • Services
    • Private Client
    • Business Tax
    Assurance & Accounting
    • Accounting & Business Advisory Services
    • Audit, Review & Compilation
    • Employee Benefit Plan Audit
    • Overhead Rate Audit
    Business Advisory
    • Alternative Dispute Resolution
    • Bankruptcy & Restructuring
    • Forensic Accounting
    • Human Capital Consulting
    • IT Risk Assurance & Advisory
    • Litigation Support
    • Succession Planning
    • Technical Accounting Advisory
    • Transaction Advisory
    • Valuation
  • Industries

    Architecture & Engineering

    Healthcare

    Manufacturing & Distribution

    Not-for-Profit

    Professional Services

    Restaurant & Hospitality

    Real Estate

    Retail & Consumer

    Technology

  • Perspectives

    Articles & Podcasts

    Case Studies

    Newsletters

  • Careers

    DGC is looking for talented professionals to join our team.
    Learn more 

    Working Environment

    Life @ DGC

    Benefits

    Professional Development

    Student Resources

    View Open Positions

  • Contact Us

    Send a Message

    Office Locations & Directions

  • Client Portal
  • LinkedIn
  • Twitter
  • Facebook
  • About Us

    Where there's unique perspective, there's DGC. 
    Learn more

    • Service Philosophy
    • Team
    • News & Events
    • Community Involvement
    • Moore Global Network
  • Services
    • Private Client
    • Business Tax
    Assurance & Accounting
    • Accounting & Business Advisory Services
    • Audit, Review & Compilation
    • Employee Benefit Plan Audit
    • Overhead Rate Audit
    Business Advisory
    • Alternative Dispute Resolution
    • Bankruptcy & Restructuring
    • Forensic Accounting
    • Human Capital Consulting
    • IT Risk Assurance & Advisory
    • Litigation Support
    • Succession Planning
    • Technical Accounting Advisory
    • Transaction Advisory
    • Valuation
  • Industries

    Architecture & Engineering

    Healthcare

    Manufacturing & Distribution

    Not-for-Profit

    Professional Services

    Restaurant & Hospitality

    Real Estate

    Retail & Consumer

    Technology

  • Perspectives

    Articles & Podcasts

    Case Studies

    Newsletters

  • Careers

    DGC is looking for talented professionals to join our team.
    Learn more 

    Working Environment

    Life @ DGC

    Benefits

    Professional Development

    Student Resources

    View Open Positions

  • Contact Us

    Send a Message

    Office Locations & Directions

  • Client Portal
  • LinkedIn
  • Twitter
  • Facebook
COVID-19 Resources for Businesses and Individuals

DGC provides you with critical updates and PPP Loan resources to guide you during this challenging time. Click here to visit our dedicated COVID-19 page.

Perspectives

Categories

  • All
  • Articles & Podcasts
  • Case Studies
  • Newsletters
Popular Tags
  • COVID-1985,
  • Coronavirus81,
  • Tax Reform40,
  • Cybersecurity38,
  • Paycheck Protection Program28,
  • PPP Loans28,
  • Podcasts26,
  • Private Client22,
  • Webinars22,
  • IT Risk Assurance & Advisory20,

Tax Legislation Updates – February 2021

2/17/2021 Articles & Podcasts

SALT Cap Workaround

Governor Charlie Baker’s FY22 budget recommendation contains a SALT cap workaround effective until the expiration of the SALT cap. The new provisions adopt an entity level tax similar to the Connecticut provisions which have already been blessed by the IRS in Notice 2020-75.

Personal Income Tax Conformity to Federal Income Tax Loan Forgiveness for PPP

Based on recent discussions with the Ways & Means Deputy General Counsel and the Budget Director, it appears that there is hope for changes to Massachusetts law that will permit PPP loan forgiveness without the recognition of Massachusetts taxable income for personal income tax purposes. The cost of this provision could be as high as $.5 billion which may derail this measure. We should hear more in the near future.

A New Focus of MA Auditors

Massachusetts tax attorneys have reported an increasing audit focus on Brownfields credits. For those unfamiliar with these credits, this tax credit program offers eligible businesses and nonprofits a tax credit for the costs incurred in a Brownfields remediation project. The Massachusetts Department of Revenue has begun to question which costs incurred may generate a credit.

Contact your DGC client service team with any questions.

New Hampshire and the Supreme Court

On October 19, 2020, New Hampshire filed a Motion for Leave to File a Bill of Complaint at the U.S. Supreme Court arguing that the Massachusetts "convenience of the employer" regulation violates the Commerce and Due Process Clauses. That regulation sources and imposes a tax on income of nonresidents despite their working from home outside the state. 

This regulation constitutes an extraterritorial reach by Massachusetts and the six other states with similar rules. Massachusetts' response argues a lack of standing and disagrees with New Hampshire on the merits of the constitutional claims. The U.S. Supreme Court has requested a “friend of the court” brief from the Acting Solicitor General of the United States indicating a likelihood that they will hear the case.

If you have questions about any of these topics, please reach out to a member of your DGC client service team or Scott Thomas, JD, LLM at 781-937-5172 / sthomas@dgccpa.com. You can also visit DGC's coronavirus web page at dgccpa.com/coronavirus which is frequently updated with new resources to help you deal with the financial impact of the coronavirus on you and your business.

If you would like to get alerts and insights like this sent directly to your inbox, sign up here.

Articles & Podcasts
    Business Tax, Private Client, Tax Legislation Updates

About the Author

Scott Thomas, JD, LLM
Scott Thomas, JD, LLM Senior Advisor
More Articles by Scott
Author Profile

About the Author

Scott Thomas, JD, LLM
Scott Thomas, JD, LLM Senior Advisor
More Articles by Scott
Author Profile
President Biden’s Tax Proposals – What We Know Now 2/19/2021
Critical COVID-19 Business Provisions – The Employee Retention Credit and Others 1/27/2021
Webinar Recording and Slides: PPP Round Two – Requirements for Eligibility and the Forgiveness Process 1/13/2021
COVID-19 Relief for Businesses – PPP Round Two and Other Provisions 1/8/2021
  • Home
  • About Us
  • Contact Us
  • Careers
  • Privacy
  • Disclaimer
  • Newsletter
DCG Logo
  • LinkedIn
  • Twitter
  • Facebook
An independent firm associated with Moore Global Network Limited. Moore Logo
© 2021 DiCicco, Gulman & Company LLP.
All Rights Reserved.

Get alerts and insights
sent directly to your inbox.