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Guidance on SBA Disaster Loans, AAFCPAs’ CARES Act Task Force Mobilized to Assist

AAFCPAs would like to make clients aware that the Coronavirus Aid, Relief and Economic Stimulus (CARES) Act legislation, signed by President Trump on Friday, March 27th, 2020, creates two Small Business Administration (SBA) loan programs available to businesses to prevent devastation caused by the coronavirus pandemic, including: The Economic Injury Disaster Loans (EIDL), funded earlier […]

Key steps for businesses to survive the coronavirus crisis

Key steps for businesses to survive the coronavirus crisis

As the COVID-19 pandemic wears on and Central Massachusetts business owners adjust to a shifting economic and regulatory environment, area experts are cautioning company heads to stay abreast of ever-changing tides – and to make sure emergency plans are in place to protect work and cash flow.

Massachusetts Extends State Income Tax Filing Deadline to July 15

AAFCPAs would like to make clients aware that Massachusetts announced today an agreement to extend the 2019 state individual income tax filing and payment deadline from April 15 to July 15, consistent with the federal government, due to the ongoing COVID-19 outbreak. This income tax relief is automatic and taxpayers do not need to file […]

Cyberattacks, Foreign Disinformation Campaigns Leverage Coronavirus Theme

AAFCPAs would like to remind clients that cyber criminals and other bad actors are often poised to capitalize on a crisis. In this case, cyber criminals and foreign governments are using the Coronavirus (COVID-19) pandemic as a theme to lure individuals into making harmful clicks or actions. AAFCPAs reminds clients and their employees to be […]

Tax Relief and Incentives for Affected Cannabis Businesses

The quickly spreading coronavirus, and the subsequent response from states to close all “non-essential” businesses, is causing much confusion for the Cannabis industry. The decision about whether cannabis operators can keep doing business has occurred state by state, and in some cases, city by city. The majority of US states that have closed non-essential businesses […]

COVID-19 Guidance from the U.S. Department of Labor

The Wage and Hour Division provides information on common issues employers and employees face when responding to COVID-19, and its effects on wages and hours worked under the Fair Labor Standards Act (FLSA), job-protected leave under the Family and Medical Leave Act (FMLA), and paid sick leave and expanded family and medical leave under the […]

IRS Issues Additional Clarity on Tax Deadlines

AAFCPAs has received many e-mails and phone calls in response to the recent announcements from the IRS related to the federal tax filing and payment deadline extensions. As a reminder, Treasury Secretary Steven Mnuchin announced last week that the IRS will move the national income tax filing and payment day ahead to July 15th. This […]

How to Transfer Tax Documents to AAFCPAs

Due to the current status of the Coronavirus and the potential for mail service delays & travel restrictions, AAFCPAs encourages clients to transfer tax documents electronically. We offer the following 3 options for secure, electronic transfer: TaxCaddy: TaxCaddy is a secure application that will allow you to easily collect, store, and transfer your tax documents. […]

Federal Tax Filing Deadline Extended to July 15th

As the Coronavirus (COVID-19) pandemic continues to unfold, AAFCPAs has received many e-mails and phone calls. Treasury Secretary Steven Mnuchin announced today, March 20th, 2020 that the IRS will move the national income tax filing day ahead to July 15th, three months after the normal deadline for Americans to send in their returns. The filing […]