Our Blog

Jason Innerfield, CPA •

On June 10, 2026, Governor Kelly Ayotte signed House Bill 155 into law, making two significant changes to the New Hampshire Business Enterprise Tax (BET):

Alyssa Specht, MSA •

For many people living in Massachusetts, sales tax is a familiar part of everyday purchases. But did you know there’s a Massachusetts Sales Tax Holiday coming up?
 
This year’s sales tax holiday runs from August 8th through August 9th. The holiday only applies to individuals buying items for personal use, including eligible online purchases. It does not apply to purchases by businesses or items purchased for business use. Additionally, not every purchase qualifies during this holiday. Some common items that are not eligible include meals, gas, and alcoholic beverages. During the holiday, eligible retail items costing $2,500 or less that are purchased for personal use are exempt from Massachusetts sales tax. As long as each eligible individual items costs $2,500 or less, it should qualify for the exemption, even if the total purchase exceeds $2,500.

The IRS has increased the mileage rate mid-year to keep up with increasing gas prices. Effective July 1, 2026 both the business and the medical/moving mileage rates are increasing.

The IRS created a new CP53E notice ahead of the most recent tax filing season as part of their transition from paper checks to electronic payments and deposits. These notices ask taxpayers to add or update bank account information ahead of receiving refunds, however, confusion has arisen where taxpayers who were not due a refund were also sent notices.
The AICPA has sent a letter to the IRS requesting that the IRS provide additional guidance and clarity in their letters.
To learn more, take a look at the following article from the Journal of Accountancy, AICPA recommends improvements to CP53E notice process.
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